Evercore ISI Cuts Kroger (NYSE:KR) Price Target to $75.00

Kroger (NYSE:KR) had its target price cut by equities research analysts at Evercore ISI from $76.00 to $75.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 13.65% from the company’s previous close.

A number of other research analysts have also issued reports on KR. Citigroup lifted their target price on Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Telsey Advisory Group reissued an “outperform” rating and issued a $73.00 price objective on shares of Kroger in a research report on Friday. Roth Capital set a $58.00 price objective on shares of Kroger in a research report on Thursday, March 6th. Guggenheim increased their target price on Kroger from $71.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, April 3rd. Finally, Morgan Stanley raised their target price on Kroger from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kroger has a consensus rating of “Moderate Buy” and a consensus target price of $68.11.

Kroger Trading Down 0.0%

KR stock traded down $0.02 during mid-day trading on Tuesday, hitting $65.99. 2,779,104 shares of the company were exchanged, compared to its average volume of 5,779,276. The business has a fifty day simple moving average of $68.87 and a 200-day simple moving average of $65.08. The firm has a market capitalization of $43.61 billion, a P/E ratio of 17.47, a PEG ratio of 2.85 and a beta of 0.58. Kroger has a 12-month low of $49.04 and a 12-month high of $73.63. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Insider Transactions at Kroger

In related news, SVP Valerie L. Jabbar sold 31,271 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $69.08, for a total value of $2,160,200.68. Following the sale, the senior vice president now owns 82,684 shares in the company, valued at approximately $5,711,810.72. This represents a 27.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth C. Kimball sold 11,000 shares of Kroger stock in a transaction on Friday, March 21st. The stock was sold at an average price of $65.37, for a total value of $719,070.00. Following the sale, the senior vice president now directly owns 127,106 shares of the company’s stock, valued at $8,308,919.22. This represents a 7.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,638 shares of company stock worth $9,632,165. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Kroger by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 82,223,697 shares of the company’s stock valued at $5,027,979,000 after acquiring an additional 773,182 shares during the last quarter. Geode Capital Management LLC increased its stake in Kroger by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 16,436,688 shares of the company’s stock valued at $1,002,479,000 after purchasing an additional 416,962 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kroger by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 14,299,898 shares of the company’s stock worth $967,863,000 after acquiring an additional 186,302 shares in the last quarter. Norges Bank acquired a new position in Kroger during the fourth quarter worth $598,390,000. Finally, Northern Trust Corp lifted its position in Kroger by 13.3% in the 4th quarter. Northern Trust Corp now owns 7,829,401 shares of the company’s stock valued at $478,768,000 after acquiring an additional 916,230 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.