Kroger (NYSE:KR) Given New $71.00 Price Target at JPMorgan Chase & Co.

Kroger (NYSE:KR) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $73.00 to $71.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.31% from the company’s current price.

Several other brokerages also recently issued reports on KR. Evercore ISI set a $77.00 price target on shares of Kroger in a report on Friday. Wall Street Zen cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 26th. Telsey Advisory Group restated an “outperform” rating and set a $80.00 price target (down from $82.00) on shares of Kroger in a research report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kroger in a report on Monday. Finally, Argus set a $85.00 price objective on Kroger in a research note on Thursday, September 18th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.61.

Kroger Price Performance

NYSE:KR traded up $0.65 during trading hours on Friday, reaching $63.79. The company had a trading volume of 2,106,852 shares, compared to its average volume of 7,063,548. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average of $66.48 and a two-hundred day moving average of $68.25. Kroger has a one year low of $57.69 and a one year high of $74.90. The firm has a market capitalization of $42.27 billion, a PE ratio of 16.18, a PEG ratio of 1.93 and a beta of 0.58.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, December 4th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Kroger had a return on equity of 32.62% and a net margin of 1.86%.The company had revenue of $33.86 billion during the quarter, compared to analysts’ expectations of $34.27 billion. During the same period last year, the business earned $0.98 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Kroger has set its FY 2025 guidance at 4.750-4.800 EPS. Analysts forecast that Kroger will post 4.44 earnings per share for the current year.

Institutional Investors Weigh In On Kroger

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SOA Wealth Advisors LLC. increased its stake in Kroger by 6,840.0% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company’s stock valued at $25,000 after buying an additional 342 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Kroger in the second quarter worth about $28,000. Rossby Financial LCC bought a new stake in shares of Kroger during the 2nd quarter worth about $29,000. Whipplewood Advisors LLC increased its holdings in shares of Kroger by 10,425.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 421 shares of the company’s stock valued at $30,000 after acquiring an additional 417 shares during the last quarter. Finally, Avalon Trust Co bought a new position in shares of Kroger in the 3rd quarter valued at approximately $29,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.