Kroger Company (The) (NYSE:KR) had its price objective reduced by BMO Capital Markets from $24.00 to $20.00 in a research note issued to investors on Monday, September 11th. BMO Capital Markets currently has a market perform rating on the stock.
Several other analysts have also recently weighed in on KR. UBS AG reaffirmed a neutral rating and issued a $27.00 price target (down previously from $32.00) on shares of Kroger Company (The) in a report on Friday, June 16th. BidaskClub raised Kroger Company (The) from a hold rating to a buy rating in a report on Wednesday, August 9th. Stephens began coverage on Kroger Company (The) in a report on Friday, August 11th. They issued an underweight rating and a $20.00 price target on the stock. Goldman Sachs Group, Inc. (The) cut Kroger Company (The) from a buy rating to a neutral rating and lowered their price target for the company from $33.00 to $26.00 in a report on Friday, June 16th. Finally, Vetr upgraded Kroger Company (The) from a buy rating to a strong-buy rating and set a $27.01 price objective on the stock in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $28.58.
Shares of Kroger Company (KR) traded up 0.470% during mid-day trading on Monday, hitting $20.315. 6,866,117 shares of the stock were exchanged. The company has a market capitalization of $18.14 billion, a PE ratio of 12.290 and a beta of 0.79. The firm has a 50-day moving average price of $22.65 and a 200 day moving average price of $26.28. Kroger Company has a 12-month low of $20.04 and a 12-month high of $36.44.
Kroger Company (The) (NYSE:KR) last issued its quarterly earnings data on Friday, September 8th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. The business had revenue of $27.60 billion for the quarter, compared to analysts’ expectations of $27.48 billion. During the same quarter in the prior year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Kroger Company will post $1.97 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, November 14th. Kroger Company (The)’s payout ratio is 30.30%.
Kroger Company (The) declared that its Board of Directors has initiated a share buyback plan on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
In other Kroger Company (The) news, insider J Michael Schlotman purchased 2,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was purchased at an average price of $22.73 per share, for a total transaction of $45,460.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Frontier Investment Mgmt Co. raised its stake in shares of Kroger Company (The) by 107.2% in the second quarter. Frontier Investment Mgmt Co. now owns 50,142 shares of the company’s stock worth $1,169,000 after purchasing an additional 25,940 shares during the last quarter. Intl Fcstone Inc. purchased a new position in shares of Kroger Company (The) in the second quarter worth $645,000. Paradigm Financial Advisors LLC purchased a new position in shares of Kroger Company (The) in the second quarter worth $220,000. Sentry Investment Management LLC raised its stake in shares of Kroger Company (The) by 114.9% in the second quarter. Sentry Investment Management LLC now owns 72,943 shares of the company’s stock worth $1,701,000 after purchasing an additional 39,000 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Kroger Company (The) by 26.9% in the second quarter. Toronto Dominion Bank now owns 315,969 shares of the company’s stock worth $7,368,000 after purchasing an additional 66,919 shares during the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.
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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