Kroger (NYSE:KR) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Kroger (NYSE:KRFree Report) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

KR has been the subject of several other research reports. Telsey Advisory Group reissued an outperform rating and issued a $62.00 price target on shares of Kroger in a report on Tuesday, April 23rd. Guggenheim boosted their price target on shares of Kroger from $60.00 to $61.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Evercore ISI cut their price target on shares of Kroger from $63.00 to $62.00 and set an outperform rating for the company in a report on Tuesday, April 16th. BNP Paribas reaffirmed an underperform rating and set a $48.00 target price on shares of Kroger in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised shares of Kroger from an equal weight rating to an overweight rating and lifted their target price for the stock from $58.00 to $65.00 in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $55.17.

Get Our Latest Report on KR

Kroger Price Performance

NYSE:KR opened at $51.95 on Tuesday. 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 firm has a market cap of $37.49 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.96 and a beta of 0.43. The company has a 50 day moving average price of $54.88 and a 200-day moving average price of $50.16. Kroger has a 1-year low of $42.10 and a 1-year high of $58.34.

Kroger (NYSE:KRGet Free Report) last posted its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.21. The firm had revenue of $37.06 billion during the quarter, compared to analyst estimates of $37.07 billion. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. Equities research analysts forecast that Kroger will post 4.43 EPS for the current year.

Kroger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were given a dividend of $0.29 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.23%. Kroger’s payout ratio is 39.19%.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.52, for a total transaction of $832,800.00. Following the transaction, the senior vice president now owns 77,696 shares of the company’s stock, valued at approximately $4,313,681.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Carin L. Fike sold 3,929 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total value of $224,070.87. Following the sale, the vice president now directly owns 3,768 shares in the company, valued at approximately $214,889.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Valerie L. Jabbar sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.52, for a total transaction of $832,800.00. Following the completion of the sale, the senior vice president now owns 77,696 shares in the company, valued at $4,313,681.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,796 shares of company stock valued at $3,118,767. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Kroger

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creekmur Asset Management LLC purchased a new stake in Kroger during the fourth quarter worth about $26,000. Valued Wealth Advisors LLC increased its stake in Kroger by 255.6% during the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock worth $26,000 after purchasing an additional 322 shares during the period. SouthState Corp increased its stake in Kroger by 334.3% during the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after purchasing an additional 458 shares during the period. VisionPoint Advisory Group LLC increased its stake in Kroger by 370.1% during the third quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in Kroger during the fourth quarter worth about $28,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

About Kroger

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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.

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