Kroger (NYSE:KR – Get Free Report) has been given a $76.00 target price by analysts at Morgan Stanley in a report released on Monday, Marketbeat Ratings reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 5.25% from the stock’s current price.
Several other equities research analysts have also issued reports on the company. Citigroup lifted their price objective on Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Melius Research raised Kroger from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 20th. Roth Capital set a $58.00 price target on Kroger in a research report on Thursday, March 6th. Telsey Advisory Group restated an “outperform” rating and issued a $82.00 price objective (up from $73.00) on shares of Kroger in a research report on Friday, June 20th. Finally, UBS Group raised their target price on shares of Kroger from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.00.
Check Out Our Latest Analysis on Kroger
Kroger Price Performance
Kroger (NYSE:KR – Get Free Report) last posted its earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The business had revenue of $45.12 billion for the quarter, compared to analysts’ expectations of $45.35 billion. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. As a group, sell-side analysts predict that Kroger will post 4.44 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Christine S. Wheatley sold 30,000 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $69.44, for a total transaction of $2,083,200.00. Following the completion of the sale, the executive vice president now owns 127,737 shares of the company’s stock, valued at approximately $8,870,057.28. This represents a 19.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yael Cosset sold 71,224 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $73.49, for a total transaction of $5,234,251.76. Following the completion of the transaction, the executive vice president now owns 139,124 shares in the company, valued at $10,224,222.76. This represents a 33.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,793 shares of company stock valued at $14,938,358 over the last three months. Insiders own 0.44% of the company’s stock.
Institutional Investors Weigh In On Kroger
Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Kroger by 27.3% in the fourth quarter. Brighton Jones LLC now owns 15,733 shares of the company’s stock worth $962,000 after purchasing an additional 3,373 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in Kroger by 1.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 18,691 shares of the company’s stock valued at $1,143,000 after purchasing an additional 257 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Kroger by 13.1% in the 4th quarter. Private Advisor Group LLC now owns 20,296 shares of the company’s stock worth $1,241,000 after buying an additional 2,345 shares during the period. Ieq Capital LLC grew its position in shares of Kroger by 6.0% in the 4th quarter. Ieq Capital LLC now owns 32,431 shares of the company’s stock worth $1,983,000 after buying an additional 1,843 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Kroger by 5.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 10,287 shares of the company’s stock valued at $629,000 after buying an additional 505 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.
About Kroger
The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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