Kroger Company (The) (NYSE:KR) has been assigned an average rating of “Hold” from the thirty brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nineteen have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $27.95.
A number of brokerages have recently commented on KR. UBS AG reiterated a “neutral” rating and issued a $27.00 price target (down from $32.00) on shares of Kroger Company (The) in a research note on Friday, June 16th. Jefferies Group LLC dropped their price objective on shares of Kroger Company (The) from $24.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, September 11th. Bank of America Corporation downgraded shares of Kroger Company (The) from a “buy” rating to a “neutral” rating in a report on Thursday, June 15th. BMO Capital Markets set a $27.00 price objective on shares of Kroger Company (The) and gave the stock a “hold” rating in a report on Friday, June 16th. Finally, Morgan Stanley downgraded shares of Kroger Company (The) from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $40.00 to $30.00 in a report on Monday, June 19th.
Kroger Company (KR) traded down 1.65% on Wednesday, reaching $20.29. 16,871,470 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $21.35 and its 200 day moving average price is $25.51. The company has a market cap of $18.05 billion, a PE ratio of 12.27 and a beta of 0.76. Kroger Company has a 52-week low of $19.69 and a 52-week high of $36.44.
Kroger Company (The) (NYSE:KR) last announced its quarterly earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. Kroger Company (The) had a net margin of 1.32% and a return on equity of 28.04%. The firm had revenue of $27.60 billion during the quarter, compared to analyst estimates of $27.48 billion. During the same period in the previous year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts expect that Kroger Company will post $1.97 earnings per share for the current year.
Kroger Company (The) declared that its board has approved a stock repurchase program on Thursday, June 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, November 14th. Kroger Company (The)’s dividend payout ratio (DPR) is presently 30.30%.
Hedge funds have recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its position in Kroger Company (The) by 906.4% in the first quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock worth $6,247,000 after purchasing an additional 190,790 shares during the last quarter. Cardinal Capital Management Inc. bought a new stake in Kroger Company (The) in the second quarter worth $455,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Kroger Company (The) by 497.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,273 shares of the company’s stock worth $129,000 after purchasing an additional 4,390 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Kroger Company (The) by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,254,556 shares of the company’s stock worth $95,977,000 after purchasing an additional 105,068 shares during the last quarter. Finally, AMG National Trust Bank increased its position in Kroger Company (The) by 107.3% in the second quarter. AMG National Trust Bank now owns 69,867 shares of the company’s stock worth $1,629,000 after purchasing an additional 36,164 shares during the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.
Kroger Company (The) Company Profile
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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