Kroger (NYSE:KR) Price Target Raised to $59.00 at JPMorgan Chase & Co.

Kroger (NYSE:KR) had its target price raised by JPMorgan Chase & Co. from $58.00 to $59.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also issued reports on KR. StockNews.com raised shares of Kroger from a buy rating to a strong-buy rating in a research report on Thursday, July 18th. Telsey Advisory Group restated an outperform rating and issued a $62.00 price objective on shares of Kroger in a report on Monday, September 9th. Morgan Stanley lifted their target price on shares of Kroger from $57.00 to $58.00 and gave the company an equal weight rating in a report on Friday. Evercore ISI upped their price target on Kroger from $62.00 to $63.00 and gave the stock an outperform rating in a research note on Friday. Finally, BMO Capital Markets raised Kroger from a market perform rating to an outperform rating and lifted their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kroger currently has an average rating of Moderate Buy and an average price target of $59.09.

Kroger Stock Performance

NYSE:KR opened at $55.91 on Friday. The company’s 50-day moving average is $53.38 and its two-hundred day moving average is $53.69. Kroger has a 1-year low of $42.10 and a 1-year high of $58.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.45. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.80 and a beta of 0.47.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, September 12th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. Analysts forecast that Kroger will post 4.45 EPS for the current year.

Kroger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Kroger’s previous quarterly dividend of $0.29. Kroger’s dividend payout ratio (DPR) is presently 43.69%.

Insider Transactions at Kroger

In related news, VP Brian W. Nichols sold 2,000 shares of Kroger stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $54.53, for a total value of $109,060.00. Following the completion of the transaction, the vice president now owns 18,063 shares in the company, valued at $984,975.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kroger

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sanders Capital LLC lifted its holdings in shares of Kroger by 5.0% in the 4th quarter. Sanders Capital LLC now owns 23,786,389 shares of the company’s stock valued at $1,087,276,000 after purchasing an additional 1,123,427 shares during the last quarter. Capital World Investors increased its position in Kroger by 1.5% during the fourth quarter. Capital World Investors now owns 14,453,142 shares of the company’s stock worth $660,653,000 after buying an additional 214,852 shares during the period. Dimensional Fund Advisors LP lifted its stake in Kroger by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 13,591,402 shares of the company’s stock valued at $678,562,000 after buying an additional 723,771 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Kroger by 13.4% in the second quarter. Legal & General Group Plc now owns 7,759,992 shares of the company’s stock valued at $387,456,000 after acquiring an additional 917,923 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Kroger by 96.6% during the second quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock worth $268,689,000 after acquiring an additional 2,643,811 shares during 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.