Sanford C. Bernstein assumed coverage on shares of Kroger (NYSE:KR) in a research note released on Friday morning, Marketbeat.com reports. The firm issued a market perform rating and a $27.00 target price on the stock.
Several other brokerages have also issued reports on KR. BMO Capital Markets set a $31.00 price target on Kroger and gave the company a hold rating in a research note on Friday, March 2nd. Oppenheimer reiterated a hold rating and issued a $26.00 price objective on shares of Kroger in a research note on Monday, December 4th. Citigroup upped their price objective on Kroger from $30.00 to $33.00 and gave the company a buy rating in a research note on Tuesday, December 26th. Zacks Investment Research lowered Kroger from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Finally, TheStreet lowered Kroger from a b rating to a c+ rating in a research note on Monday, March 5th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $27.36.
Kroger (NYSE KR) opened at $23.99 on Friday. Kroger has a 12 month low of $19.69 and a 12 month high of $31.45. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.32 and a current ratio of 0.78. The stock has a market capitalization of $21,140.00, a PE ratio of 14.28, a P/E/G ratio of 3.90 and a beta of 1.04.
The firm 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 was Wednesday, February 14th. Kroger’s payout ratio is currently 29.76%.
In other Kroger news, VP Todd A. Foley sold 3,800 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $24.43, for a total transaction of $92,834.00. Following the transaction, the vice president now owns 31,273 shares of the company’s stock, valued at approximately $763,999.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher T. Hjelm sold 16,530 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $27.00, for a total value of $446,310.00. Following the transaction, the insider now directly owns 243,784 shares in the company, valued at approximately $6,582,168. The disclosure for this sale can be found here. Insiders sold a total of 110,130 shares of company stock worth $3,187,062 over the last three months. 0.87% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Kroger by 22.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,618 shares of the company’s stock valued at $264,000 after purchasing an additional 1,748 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Kroger by 41.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 6,121 shares of the company’s stock valued at $168,000 after purchasing an additional 1,780 shares during the period. Dowling & Yahnke LLC lifted its stake in shares of Kroger by 5.8% in the 4th quarter. Dowling & Yahnke LLC now owns 33,174 shares of the company’s stock valued at $911,000 after purchasing an additional 1,805 shares during the period. Benedict Financial Advisors Inc. lifted its stake in shares of Kroger by 9.4% in the 4th quarter. Benedict Financial Advisors Inc. now owns 21,501 shares of the company’s stock valued at $590,000 after purchasing an additional 1,845 shares during the period. Finally, Baker Ellis Asset Management LLC lifted its stake in shares of Kroger by 0.7% in the 4th quarter. Baker Ellis Asset Management LLC now owns 252,161 shares of the company’s stock valued at $6,922,000 after purchasing an additional 1,875 shares during the period. 75.78% of the stock is currently owned by hedge funds and other institutional investors.
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Kroger 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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