Kroger (NYSE:KR) Price Target Raised to $71.00 at Guggenheim

Kroger (NYSE:KR) had its price target raised by Guggenheim from $68.00 to $71.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on KR. Evercore ISI increased their target price on Kroger from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. Roth Mkm lifted their target price on Kroger from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup reaffirmed a “neutral” rating and set a $61.00 price target on shares of Kroger in a research report on Friday, January 24th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Kroger in a research report on Monday, December 23rd. Finally, Morgan Stanley increased their target price on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Kroger Stock Up 0.1 %

NYSE:KR opened at $65.00 on Friday. The stock has a market cap of $47.04 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.85 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74. The stock has a 50-day moving average price of $60.75 and a two-hundred day moving average price of $57.36. Kroger has a 1 year low of $44.49 and a 1 year high of $65.75.

Kroger (NYSE:KR) last posted its earnings results on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same period in the prior year, the business earned $0.95 EPS. Kroger’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts expect that Kroger will post 4.44 earnings per share for the current year.

Kroger announced that its board has authorized a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 16.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, February 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. Kroger’s dividend payout ratio is currently 33.86%.

Insider Buying and Selling at Kroger

In related news, SVP Timothy A. Massa sold 25,889 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $60.12, for a total value of $1,556,446.68. Following the completion of the sale, the senior vice president now directly owns 115,861 shares in the company, valued at $6,965,563.32. The trade was a 18.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stuart Aitken sold 132,627 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $63.18, for a total value of $8,379,373.86. Following the transaction, the senior vice president now owns 217,523 shares in the company, valued at $13,743,103.14. The trade was a 37.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,448 shares of company stock valued at $12,143,923 in the last quarter. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kroger

A number of hedge funds have recently bought and sold shares of the business. Board of the Pension Protection Fund acquired a new position in shares of Kroger during the 4th quarter worth approximately $1,113,000. Nordea Investment Management AB grew its position in Kroger by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 4,052,534 shares of the company’s stock worth $249,717,000 after buying an additional 148,221 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Kroger by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,890,887 shares of the company’s stock worth $280,248,000 after acquiring an additional 53,006 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Kroger by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,176,218 shares of the company’s stock valued at $124,697,000 after acquiring an additional 36,083 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Kroger during the 3rd quarter worth $566,000. 80.93% of the stock is owned by institutional investors.

About Kroger

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.