Kroger (NYSE:KR) Price Target Increased to $63.00 by Analysts at Evercore ISI

Kroger (NYSE:KR) had its target price upped by Evercore ISI from $62.00 to $63.00 in a report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently commented on KR. Argus lifted their target price on Kroger from $70.00 to $72.00 and gave the company a buy rating in a research note on Monday, July 22nd. Morgan Stanley upped their price target on Kroger from $57.00 to $58.00 and gave the company an equal weight rating in a research report on Friday. Telsey Advisory Group restated an outperform rating and set a $62.00 price target on shares of Kroger in a report on Monday, September 9th. Wolfe Research raised Kroger to a strong-buy rating in a research report on Friday, June 21st. Finally, StockNews.com upgraded Kroger from a buy rating to a strong-buy rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $59.09.

Kroger Stock Performance

KR opened at $56.19 on Friday. The stock’s 50 day simple moving average is $53.46 and its 200 day simple moving average is $53.74. The stock has a market cap of $40.56 billion, a P/E ratio of 19.18, a P/E/G ratio of 0.80 and a beta of 0.47. 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.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The company had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same period last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Kroger will post 4.45 EPS for the current fiscal year.

Kroger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.28%. This is a positive change from Kroger’s previous quarterly dividend of $0.29. Kroger’s dividend payout ratio is 43.69%.

Insider Buying and Selling at Kroger

In related news, VP Brian W. Nichols sold 2,000 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was 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 of the company’s stock, valued at $984,975.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

Several large investors have recently bought and sold shares of KR. Creekmur Asset Management LLC bought a new stake in shares of Kroger in the 4th quarter valued at $26,000. Valued Wealth Advisors LLC boosted its position in shares of Kroger by 255.6% during the 1st quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock worth $26,000 after purchasing an additional 322 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Kroger in the 4th quarter valued at about $28,000. Hexagon Capital Partners LLC boosted its holdings in Kroger by 101.6% in the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of Kroger during the second quarter valued at approximately $28,000. 80.93% of the stock is currently owned by institutional investors.

Kroger Company Profile

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.