Kroger Company (The) (KR) Given New $19.00 Price Target at Jefferies Group LLC
Kroger Company (The) (NYSE:KR) had its price objective decreased by Jefferies Group LLC from $24.00 to $19.00 in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the stock. Jefferies Group LLC’s price target would indicate a potential downside of 9.78% from the stock’s previous close.
Several other equities analysts have also commented on KR. Loop Capital initiated coverage on Kroger Company (The) in a research note on Monday, May 15th. They issued a “hold” rating and a $32.00 target price for the company. ValuEngine lowered Kroger Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BMO Capital Markets set a $32.00 price target on Kroger Company (The) and gave the stock a “hold” rating in a research note on Saturday, June 10th. Royal Bank Of Canada restated a “buy” rating and set a $34.00 price target on shares of Kroger Company (The) in a research note on Tuesday, June 13th. Finally, Wells Fargo & Company restated a “buy” rating and set a $28.00 price target (down from $35.00) on shares of Kroger Company (The) in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $29.26.
Shares of Kroger Company (NYSE KR) traded up 0.973% during mid-day trading on Monday, hitting $21.265. The company had a trading volume of 10,472,300 shares. The firm has a 50-day moving average of $23.12 and a 200-day moving average of $26.81. Kroger Company has a 12 month low of $20.41 and a 12 month high of $36.44. The company has a market cap of $19.08 billion, a PE ratio of 12.803 and a beta of 0.79.
Kroger Company (The) (NYSE:KR) last released its earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $27.60 billion during the quarter, compared to analyst estimates of $27.48 billion. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. On average, analysts expect that Kroger Company will post $1.98 EPS for the current year.
Kroger Company (The) announced that its Board of Directors has authorized a share repurchase program on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
In related news, Director Susan M. Phillips sold 6,200 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $21.17, for a total value of $131,254.00. Following the sale, the director now directly owns 124,105 shares in the company, valued at approximately $2,627,302.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider J Michael Schlotman bought 2,000 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was acquired at an average price of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. 0.87% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of KR. Dupont Capital Management Corp acquired a new stake in Kroger Company (The) in the 2nd quarter valued at approximately $105,000. Advantage Investment Management LLC increased its position in Kroger Company (The) by 15.8% in the 1st quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock valued at $109,000 after acquiring an additional 502 shares during the period. Cedar Wealth Management LLC increased its position in Kroger Company (The) by 155.9% in the 2nd quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock valued at $116,000 after acquiring an additional 3,040 shares during the period. CWM LLC increased its position in Kroger Company (The) by 1,162.2% in the 2nd quarter. CWM LLC now owns 5,213 shares of the company’s stock valued at $122,000 after acquiring an additional 4,800 shares during the period. Finally, Grove Bank & Trust increased its position in Kroger Company (The) by 9.3% in the 2nd quarter. Grove Bank & Trust now owns 5,287 shares of the company’s stock valued at $124,000 after acquiring an additional 450 shares during the period. Hedge funds and other institutional investors own 74.63% of the company’s stock.
Kroger Company (The) Company Profile
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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