Kroger (NYSE:KR) Price Target Raised to $69.00

Kroger (NYSE:KR) had its target price lifted by JPMorgan Chase & Co. from $59.00 to $69.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

KR has been the topic of a number of other research reports. Guggenheim increased their price target on Kroger from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI upped their target price on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. BNP Paribas started coverage on Kroger in a research report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price target on the stock. BMO Capital Markets downgraded Kroger from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group upgraded shares of Kroger from a “hold” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $73.00 in a research note on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Kroger Stock Performance

NYSE:KR opened at $59.23 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $57.81 and a 200 day simple moving average of $54.62. Kroger has a 1-year low of $43.51 and a 1-year high of $61.37. The stock has a market cap of $42.85 billion, a P/E ratio of 15.67, a PEG ratio of 0.93 and a beta of 0.48.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The business had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same period in the prior year, the company posted $0.95 earnings per share. Kroger’s revenue was down 1.0% compared to the same quarter last year. Research analysts anticipate that Kroger will post 4.45 earnings per share for the current year.

Kroger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.16%. Kroger’s payout ratio is presently 33.86%.

Insider Transactions at Kroger

In related news, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction 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 sale, the vice president now owns 14,063 shares of the company’s stock, valued at $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 available through the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total value of $167,265.70. Following the transaction, the vice president now directly owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,932 shares of company stock worth $721,243. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kroger

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mendel Capital Management LLC lifted its holdings in Kroger by 0.6% in the third quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock valued at $1,808,000 after buying an additional 181 shares during the period. Jaffetilchin Investment Partners LLC grew its holdings in Kroger by 1.1% in the second quarter. Jaffetilchin Investment Partners LLC now owns 16,551 shares of the company’s stock worth $826,000 after purchasing an additional 187 shares during the period. SignalPoint Asset Management LLC raised its holdings in shares of Kroger by 3.2% during the third quarter. SignalPoint Asset Management LLC now owns 6,500 shares of the company’s stock valued at $367,000 after purchasing an additional 200 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Kroger by 1.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 11,726 shares of the company’s stock worth $672,000 after purchasing an additional 215 shares in the last quarter. Finally, M3 Advisory Group LLC grew its stake in shares of Kroger by 5.6% in the 3rd quarter. M3 Advisory Group LLC now owns 4,285 shares of the company’s stock valued at $246,000 after buying an additional 226 shares during the period. 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.