Kroger (NYSE:KR) had its target price lowered by Bank of America from $33.00 to $28.00 in a research note issued to investors on Friday morning. Bank of America currently has a neutral rating on the stock.
Other research analysts also recently issued reports about the stock. Royal Bank of Canada set a $36.00 price objective on shares of Kroger and gave the stock a buy rating in a research report on Friday. Morgan Stanley reissued an equal weight rating and set a $26.50 price objective (down from $29.00) on shares of Kroger in a research report on Friday. Stephens set a $22.00 price objective on shares of Kroger and gave the stock a hold rating in a research report on Friday. Sanford C. Bernstein assumed coverage on shares of Kroger in a research report on Friday. They set a market perform rating and a $27.00 price objective on the stock. Finally, Telsey Advisory Group lowered their price objective on shares of Kroger from $32.00 to $27.00 and set a market perform rating on the stock in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Kroger currently has a consensus rating of Hold and a consensus target price of $27.52.
Kroger (KR) traded up $1.10 during midday trading on Friday, hitting $24.08. 22,786,571 shares of the company were exchanged, compared to its average volume of 11,790,000. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.78 and a quick ratio of 0.31. The stock has a market cap of $22,240.00, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 3.69 and a beta of 1.04. Kroger has a 1 year low of $19.69 and a 1 year high of $31.45.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, February 14th. Kroger’s payout ratio is 29.76%.
In other news, insider Christopher T. Hjelm sold 16,530 shares of Kroger stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $27.00, for a total value of $446,310.00. Following the sale, the insider now owns 243,784 shares of the company’s stock, valued at $6,582,168. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd A. Foley sold 3,800 shares of Kroger stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $24.43, for a total transaction of $92,834.00. Following the completion of the sale, the vice president now directly owns 31,273 shares in the company, valued at approximately $763,999.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,130 shares of company stock worth $3,187,062. Insiders own 0.85% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management lifted its stake in shares of Kroger by 11.5% in the fourth quarter. LSV Asset Management now owns 14,112,947 shares of the company’s stock valued at $387,400,000 after purchasing an additional 1,459,907 shares during the period. Franklin Resources Inc. lifted its stake in shares of Kroger by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 11,973,513 shares of the company’s stock valued at $328,675,000 after purchasing an additional 51,780 shares during the period. Sanders Capital LLC acquired a new stake in shares of Kroger in the fourth quarter valued at about $293,538,000. Aristotle Capital Management LLC lifted its stake in shares of Kroger by 1.4% in the fourth quarter. Aristotle Capital Management LLC now owns 9,671,874 shares of the company’s stock valued at $265,493,000 after purchasing an additional 135,460 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Kroger by 12.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 8,532,598 shares of the company’s stock valued at $234,220,000 after purchasing an additional 958,722 shares during the period. Hedge funds and other institutional investors own 74.75% of the company’s stock.
WARNING: “Kroger (KR) PT Lowered to $28.00 at Bank of America” was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3253416/kroger-kr-pt-lowered-to-28-00-at-bank-of-america.html.
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.
Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.