BMO Capital Markets set a $27.00 price objective on Kroger (NYSE:KR) in a research report sent to investors on Monday, March 12th, Marketbeat reports. The brokerage currently has a hold rating on the stock.
Several other research analysts have also recently issued reports on KR. Pivotal Research set a $30.00 target price on shares of Kroger and gave the stock a buy rating in a report on Saturday, December 2nd. Stephens set a $22.00 price objective on shares of Kroger and gave the company a hold rating in a report on Friday, March 9th. Telsey Advisory Group boosted their price objective on shares of Kroger from $24.00 to $28.00 and gave the company a market perform rating in a report on Friday, December 1st. Royal Bank of Canada reissued an outperform rating and set a $38.00 price objective on shares of Kroger in a report on Wednesday, February 28th. Finally, Morgan Stanley boosted their price objective on shares of Kroger from $28.00 to $29.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Seventeen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Kroger has a consensus rating of Hold and an average price target of $27.14.
Kroger stock traded down $0.04 during trading hours on Monday, hitting $23.77. The stock had a trading volume of 8,797,066 shares, compared to its average volume of 11,000,372. 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 $21,223.19, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. Kroger has a 12-month low of $19.69 and a 12-month high of $31.45.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.50 annualized dividend and a yield of 2.10%. Kroger’s dividend payout ratio (DPR) is 24.51%.
Kroger announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other Kroger news, insider Robert W. Clark sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $29.57, for a total value of $325,270.00. Following the completion of the transaction, the insider now directly owns 130,780 shares in the company, valued at $3,867,164.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher T. Hjelm sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $30.64, for a total transaction of $245,120.00. Following the completion of the transaction, the insider now owns 251,784 shares of the company’s stock, valued at $7,714,661.76. The disclosure for this sale can be found here. Insiders have sold 62,800 shares of company stock valued at $1,888,824 over the last 90 days. 0.85% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the business. LSV Asset Management boosted its position in shares of Kroger by 11.5% in the fourth quarter. LSV Asset Management now owns 14,112,947 shares of the company’s stock worth $387,400,000 after purchasing an additional 1,459,907 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Kroger by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 11,973,513 shares of the company’s stock worth $328,675,000 after buying an additional 51,780 shares in the last quarter. Sanders Capital LLC purchased a new position in shares of Kroger in the fourth quarter worth $293,538,000. Aristotle Capital Management LLC lifted its holdings in shares of Kroger by 1.4% in the fourth quarter. Aristotle Capital Management LLC now owns 9,671,874 shares of the company’s stock worth $265,493,000 after buying an additional 135,460 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Kroger by 12.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 8,532,598 shares of the company’s stock worth $234,220,000 after buying an additional 958,722 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.
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The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food for sale in its supermarkets. The company operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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