Barclays Boosts The Kroger (NYSE:KR) Price Target to $37.00

The Kroger (NYSE:KR) had its price objective increased by research analysts at Barclays from $35.00 to $37.00 in a research note issued on Monday, The Fly reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 11.46% from the company’s current price.

Several other analysts have also weighed in on KR. Northcoast Research boosted their target price on shares of The Kroger from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, September 7th. MKM Partners boosted their target price on shares of The Kroger from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, June 18th. Credit Suisse Group boosted their target price on shares of The Kroger from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, June 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Kroger from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, June 21st. Finally, UBS Group boosted their target price on shares of The Kroger from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, June 18th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, The Kroger presently has a consensus rating of “Hold” and an average price target of $38.28.

Shares of NYSE:KR opened at $41.79 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.38 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $42.67 and a 200 day simple moving average of $39.04. The firm has a market cap of $31.23 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.54 and a beta of 0.39. The Kroger has a 12-month low of $30.35 and a 12-month high of $47.99.

The Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, September 9th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The business had revenue of $31.68 billion during the quarter, compared to analyst estimates of $30.69 billion. The Kroger had a net margin of 0.87% and a return on equity of 28.26%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. As a group, equities research analysts forecast that The Kroger will post 3.28 EPS for the current fiscal year.

The Kroger announced that its board has authorized a stock repurchase program on Thursday, June 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other The Kroger news, SVP Calvin J. Kaufman sold 14,425 shares of the company’s stock in a transaction dated Wednesday, June 23rd. The shares were sold at an average price of $39.51, for a total value of $569,931.75. Following the completion of the sale, the senior vice president now directly owns 272,963 shares of the company’s stock, valued at approximately $10,784,768.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Carin L. Fike sold 1,145 shares of the company’s stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $38.30, for a total transaction of $43,853.50. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of KR. Stonebridge Capital Advisors LLC acquired a new position in shares of The Kroger in the 1st quarter valued at about $25,000. Grandview Asset Management LLC acquired a new position in The Kroger in the first quarter worth approximately $29,000. Total Clarity Wealth Management Inc. acquired a new position in The Kroger in the first quarter worth approximately $29,000. Selective Wealth Management Inc. increased its holdings in The Kroger by 62.5% in the second quarter. Selective Wealth Management Inc. now owns 780 shares of the company’s stock worth $30,000 after buying an additional 300 shares during the last quarter. Finally, Meridian Wealth Partners LLC acquired a new position in The Kroger in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.

About The Kroger

The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out…, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.

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