Kroger Co (KR) Given Hold Rating at Loop Capital
Kroger Co (NYSE:KR)‘s stock had its “hold” rating reiterated by Loop Capital in a note issued to investors on Wednesday. They presently have a $32.00 price objective on the stock. Loop Capital’s target price suggests a potential upside of 9.85% from the stock’s previous close.
KR has been the subject of a number of other reports. Credit Suisse Group AG set a $33.00 target price on Kroger and gave the stock a “hold” rating in a research note on Thursday, March 2nd. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $38.00 target price (up from $36.00) on shares of Kroger in a research note on Wednesday, February 22nd. Royal Bank of Canada raised Kroger from a “sector perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research note on Thursday, March 23rd. Zacks Investment Research raised Kroger from a “sell” rating to a “hold” rating in a research note on Monday, February 20th. Finally, Goldman Sachs Group Inc downgraded Kroger from a “conviction-buy” rating to a “buy” rating in a research note on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Kroger presently has a consensus rating of “Hold” and a consensus price target of $36.05.
Shares of Kroger (NYSE:KR) traded up 0.03% on Wednesday, reaching $29.13. The company had a trading volume of 7,889,832 shares. The company’s 50-day moving average price is $29.53 and its 200 day moving average price is $31.85. Kroger has a 52 week low of $28.29 and a 52 week high of $37.97. The firm has a market capitalization of $26.63 billion, a P/E ratio of 14.21 and a beta of 0.78.
Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $27.61 billion during the quarter, compared to the consensus estimate of $27.31 billion. Kroger had a return on equity of 31.48% and a net margin of 1.77%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. On average, analysts expect that Kroger will post $2.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, May 11th. Kroger’s dividend payout ratio (DPR) is currently 23.08%.
In other Kroger news, Director Ronald Sargent sold 4,465 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $29.35, for a total value of $131,047.75. Following the transaction, the director now directly owns 81,240 shares of the company’s stock, valued at $2,384,394. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Oflen Mary Elizabeth Van sold 8,000 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $30.04, for a total value of $240,320.00. Following the completion of the transaction, the vice president now directly owns 65,564 shares in the company, valued at $1,969,542.56. The disclosure for this sale can be found here. Insiders sold a total of 85,604 shares of company stock worth $2,559,544 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Achmea Investment Management B.V. acquired a new stake in shares of Kroger during the first quarter worth about $638,000. Community Trust & Investment Co. increased its position in Kroger by 1.3% in the first quarter. Community Trust & Investment Co. now owns 405,312 shares of the company’s stock worth $11,953,000 after buying an additional 5,186 shares during the period. Bank of Nova Scotia increased its position in Kroger by 906.4% in the first quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock worth $6,247,000 after buying an additional 190,790 shares during the period. Aristotle Capital Management LLC increased its position in Kroger by 10.6% in the first quarter. Aristotle Capital Management LLC now owns 940,000 shares of the company’s stock worth $27,721,000 after buying an additional 90,000 shares during the period. Finally, Salem Investment Counselors Inc. increased its position in Kroger by 160.7% in the first quarter. Salem Investment Counselors Inc. now owns 9,175 shares of the company’s stock worth $269,000 after buying an additional 5,656 shares during the period. 77.10% of the stock is currently owned by institutional investors and hedge funds.
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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