Kroger’s (KR) Outperform Rating Reaffirmed at Credit Suisse Group

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Credit Suisse Group reissued their outperform rating on shares of Kroger (NYSE:KR) in a report released on Friday, BenzingaRatingsTable reports. The firm currently has a $29.00 target price on the stock, up from their prior target price of $27.00.

KR has been the topic of a number of other reports. ValuEngine upgraded Kroger from a strong sell rating to a sell rating in a research note on Thursday, August 8th. Sanford C. Bernstein upgraded Kroger from a market perform rating to an outperform rating and set a $33.00 price target on the stock in a research note on Monday, May 20th. BMO Capital Markets restated a market perform rating and set a $26.00 price target (up from $24.00) on shares of Kroger in a research note on Wednesday, September 4th. Zacks Investment Research upgraded Kroger from a sell rating to a hold rating and set a $26.00 price target on the stock in a research note on Friday, May 31st. Finally, Pivotal Research restated a buy rating and set a $30.00 price target (up from $26.00) on shares of Kroger in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Kroger currently has an average rating of Hold and a consensus target price of $28.06.

KR opened at $26.23 on Friday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.25 and a current ratio of 0.76. The business’s 50 day moving average price is $23.17 and its 200 day moving average price is $23.96. Kroger has a one year low of $20.70 and a one year high of $31.98. The stock has a market capitalization of $20.44 billion, a PE ratio of 12.07, a P/E/G ratio of 1.80 and a beta of 0.56.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, September 12th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Kroger had a return on equity of 21.17% and a net margin of 1.36%. The company had revenue of $28.17 billion for the quarter, compared to analysts’ expectations of $28.34 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts forecast that Kroger will post 2.19 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from Kroger’s previous quarterly dividend of $0.14. Kroger’s dividend payout ratio is currently 30.33%.

In other news, EVP J Michael Schlotman sold 15,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.01, for a total transaction of $330,150.00. Following the sale, the executive vice president now owns 270,655 shares of the company’s stock, valued at $5,957,116.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen M. Mckinney sold 15,600 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.05, for a total value of $343,980.00. Following the sale, the insider now directly owns 168,070 shares in the company, valued at approximately $3,705,943.50. The disclosure for this sale can be found here. Insiders have sold 43,600 shares of company stock worth $955,450 in the last ninety days. Corporate insiders own 1.34% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. LSV Asset Management increased its holdings in Kroger by 1.8% in the first quarter. LSV Asset Management now owns 20,412,468 shares of the company’s stock valued at $502,146,000 after buying an additional 361,800 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kroger by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 12,008,444 shares of the company’s stock valued at $329,733,000 after buying an additional 874,376 shares during the last quarter. Northern Trust Corp increased its holdings in Kroger by 1.1% in the second quarter. Northern Trust Corp now owns 10,715,151 shares of the company’s stock valued at $232,626,000 after buying an additional 114,919 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Kroger by 30.2% in the second quarter. Victory Capital Management Inc. now owns 10,689,834 shares of the company’s stock valued at $232,077,000 after buying an additional 2,477,585 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Kroger by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 6,935,089 shares of the company’s stock valued at $150,561,000 after buying an additional 50,031 shares during the last quarter. 80.51% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Company Profile

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.

See Also: Momentum Investing

Analyst Recommendations for Kroger (NYSE:KR)

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