The Kroger Co. (NYSE:KR) Receives $66.50 Average Price Target from Analysts

The Kroger Co. (NYSE:KR) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $66.50.

A number of brokerages have weighed in on KR. Evercore ISI boosted their price target on Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Melius cut Kroger from a “hold” rating to a “sell” rating and set a $58.00 price target on the stock. in a research note on Tuesday, April 1st. Morgan Stanley raised their price target on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Bank of America upped their price objective on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Guggenheim increased their price objective on shares of Kroger from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, April 3rd.

Insider Buying and Selling

In other news, SVP Yael Cosset sold 115,149 shares of Kroger stock in a transaction on Monday, March 10th. The stock was sold at an average price of $68.08, for a total value of $7,839,343.92. Following the transaction, the senior vice president now owns 139,338 shares in the company, valued at approximately $9,486,131.04. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Todd A. Foley sold 28,105 shares of Kroger stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $66.62, for a total value of $1,872,355.10. Following the completion of the transaction, the chief financial officer now owns 52,861 shares in the company, valued at approximately $3,521,599.82. This represents a 34.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,056 shares of company stock valued at $19,637,066 over the last quarter. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kroger

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC grew its position in Kroger by 220.9% during the 3rd quarter. McIlrath & Eck LLC now owns 2,888 shares of the company’s stock worth $165,000 after acquiring an additional 1,988 shares during the last quarter. Te Ahumairangi Investment Management Ltd grew its holdings in Kroger by 1.2% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 179,707 shares of the company’s stock worth $10,239,000 after acquiring an additional 2,060 shares during the last quarter. World Investment Advisors LLC acquired a new position in Kroger in the 3rd quarter valued at approximately $566,000. Wilmington Savings Fund Society FSB bought a new position in shares of Kroger during the third quarter valued at $95,000. Finally, Tidal Investments LLC lifted its holdings in shares of Kroger by 1.2% during the third quarter. Tidal Investments LLC now owns 59,176 shares of the company’s stock worth $3,391,000 after purchasing an additional 698 shares during the period. Institutional investors own 80.93% of the company’s stock.

Kroger Price Performance

NYSE:KR opened at $71.30 on Tuesday. The stock has a market capitalization of $47.12 billion, a PE ratio of 18.86, a P/E/G ratio of 2.85 and a beta of 0.60. Kroger has a 1-year low of $49.04 and a 1-year high of $71.93. The firm has a fifty day simple moving average of $66.02 and a 200 day simple moving average of $61.66. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The company had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. On average, research analysts expect that Kroger will post 4.44 EPS for the current fiscal year.

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, May 15th. Kroger’s payout ratio is currently 34.88%.

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.