Kroger (NYSE:KR) Price Target Raised to $62.00 at Telsey Advisory Group

Kroger (NYSE:KR) had its price objective lifted by equities researchers at Telsey Advisory Group from $60.00 to $62.00 in a report issued on Thursday, MarketBeat reports. The firm presently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 8.96% from the company’s previous close.

A number of other research analysts have also weighed in on KR. Wells Fargo & Company raised Kroger from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $42.00 to $50.00 in a report on Tuesday, February 27th. Guggenheim upped their target price on shares of Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Stephens cut their price target on shares of Kroger from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, December 1st. TheStreet raised shares of Kroger from a “c+” rating to a “b” rating in a report on Thursday, November 30th. Finally, Morgan Stanley dropped their price objective on Kroger from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.64.

Kroger Stock Up 0.9 %

Shares of NYSE KR opened at $56.90 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.36. The stock has a market capitalization of $40.93 billion, a PE ratio of 19.22, a P/E/G ratio of 2.63 and a beta of 0.46. Kroger has a one year low of $42.10 and a one year high of $57.26. The business’s fifty day moving average price is $49.53 and its 200-day moving average price is $46.48.

Kroger (NYSE:KR) last posted its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.21. The firm had revenue of $37.06 billion during the quarter, compared to the consensus estimate of $37.07 billion. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. On average, equities research analysts anticipate that Kroger will post 4.44 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Royal London Asset Management Ltd. raised its position in Kroger by 4.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 284,094 shares of the company’s stock valued at $12,715,000 after purchasing an additional 11,707 shares during the last quarter. Czech National Bank boosted its position in shares of Kroger by 49.3% during the third quarter. Czech National Bank now owns 115,411 shares of the company’s stock valued at $5,165,000 after purchasing an additional 38,119 shares in the last quarter. SG Americas Securities LLC raised its holdings in Kroger by 239.9% in the third quarter. SG Americas Securities LLC now owns 168,019 shares of the company’s stock worth $7,519,000 after purchasing an additional 118,581 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Kroger by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 1,647,862 shares of the company’s stock valued at $75,175,000 after buying an additional 115,264 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Kroger by 23.3% in the 3rd quarter. American Century Companies Inc. now owns 2,183,595 shares of the company’s stock worth $97,716,000 after buying an additional 412,372 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Company Profile

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.