Kroger (NYSE:KR) Price Target Raised to $63.00

Kroger (NYSE:KR) had its price objective hoisted by investment analysts at Guggenheim from $61.00 to $63.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target would suggest a potential upside of 3.98% from the company’s previous close.

KR has been the topic of a number of other research reports. Morgan Stanley raised their price objective on Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Telsey Advisory Group restated an “outperform” rating and set a $62.00 target price on shares of Kroger in a report on Wednesday, October 9th. BNP Paribas initiated coverage on Kroger in a research report on Friday, October 18th. They set a “neutral” rating and a $56.00 price objective on the stock. Evercore ISI lifted their target price on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Finally, Melius Research started coverage on shares of Kroger in a research note on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target for the company. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and an average target price of $60.27.

Kroger Price Performance

Kroger stock opened at $60.59 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87. The company’s fifty day moving average price is $57.07 and its 200 day moving average price is $54.29. The stock has a market capitalization of $43.84 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.92 and a beta of 0.48. Kroger has a 1 year low of $42.97 and a 1 year high of $60.70.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The firm had revenue of $33.91 billion during the quarter, compared to the consensus estimate of $34.09 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Kroger will post 4.46 earnings per share for the current fiscal year.

Insider Activity at Kroger

In related news, VP Brian W. Nichols sold 6,922 shares of Kroger stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. The trade was a 32.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Carin L. Fike sold 3,010 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now owns 47,593 shares in the company, valued at approximately $2,644,743.01. This trade represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,932 shares of company stock worth $721,243. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in shares of Kroger during the second quarter worth about $28,000. Northwest Investment Counselors LLC acquired a new position in Kroger during the 3rd quarter worth approximately $34,000. Newbridge Financial Services Group Inc. increased its position in shares of Kroger by 218.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after purchasing an additional 490 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Kroger during the 3rd quarter worth $40,000. Finally, ORG Partners LLC acquired a new position in shares of Kroger during the second quarter worth $42,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.