Kroger Company (The) (NYSE:KR) had its price objective lowered by research analysts at Scotiabank from $36.00 to $31.00 in a note issued to investors on Friday. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 36.93% from the company’s current price.
KR has been the topic of a number of other research reports. Credit Suisse Group set a $33.00 price target on Kroger Company (The) and gave the company a “hold” rating in a report on Thursday, March 2nd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $38.00 price target (up previously from $36.00) on shares of Kroger Company (The) in a report on Wednesday, February 22nd. Royal Bank Of Canada upgraded Kroger Company (The) from a “sector perform” rating to an “outperform” rating and set a $37.00 price target on the stock in a report on Thursday, March 23rd. Zacks Investment Research upgraded Kroger Company (The) from a “sell” rating to a “hold” rating in a report on Monday, February 20th. Finally, Deutsche Bank AG set a $35.00 price target on Kroger Company (The) and gave the company a “buy” rating in a report on Sunday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.52.
Shares of Kroger Company (KR) opened at 22.64 on Friday. Kroger Company has a 12 month low of $20.46 and a 12 month high of $37.97. The stock has a 50 day moving average price of $29.01 and a 200 day moving average price of $31.29. The stock has a market capitalization of $20.70 billion, a P/E ratio of 11.04 and a beta of 0.73.
Kroger Company (The) (NYSE:KR) last issued its earnings results on Thursday, June 15th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.58. The business had revenue of $36.29 billion for the quarter, compared to analysts’ expectations of $35.69 billion. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. On average, analysts anticipate that Kroger Company will post $1.99 EPS for the current fiscal year.
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In other news, insider Michael Joseph Donnelly sold 22,400 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $30.00, for a total value of $672,000.00. Following the transaction, the insider now directly owns 254,008 shares of the company’s stock, valued at approximately $7,620,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald Sargent sold 4,465 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $29.35, for a total value of $131,047.75. Following the completion of the transaction, the director now directly owns 81,240 shares in the company, valued at $2,384,394. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,604 shares of company stock worth $2,234,714. Corporate insiders own 0.87% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in KR. Selway Asset Management acquired a new position in shares of Kroger Company (The) during the first quarter valued at approximately $492,000. Vident Investment Advisory LLC increased its position in Kroger Company (The) by 0.3% in the fourth quarter. Vident Investment Advisory LLC now owns 42,464 shares of the company’s stock valued at $1,465,000 after buying an additional 113 shares in the last quarter. Whittier Trust Co. increased its position in Kroger Company (The) by 11.4% in the first quarter. Whittier Trust Co. now owns 94,145 shares of the company’s stock valued at $2,775,000 after buying an additional 9,646 shares in the last quarter. Quotient Investors LLC increased its position in Kroger Company (The) by 58.6% in the first quarter. Quotient Investors LLC now owns 67,382 shares of the company’s stock valued at $1,987,000 after buying an additional 24,900 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in Kroger Company (The) by 10.8% in the first quarter. NEXT Financial Group Inc now owns 9,177 shares of the company’s stock valued at $272,000 after buying an additional 898 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.
About Kroger Company (The)
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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