Kroger (NYSE:KR) Given New $71.00 Price Target at JPMorgan Chase & Co.

Kroger (NYSE:KR) had its price objective increased by research analysts at JPMorgan Chase & Co. from $69.00 to $71.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.52% from the company’s previous close.

Several other analysts have also commented on the stock. Bank of America lifted their price target on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Evercore ISI upped their price target on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Roth Mkm raised their price objective on Kroger from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of Kroger from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Finally, Guggenheim began coverage on shares of Kroger in a research note on Thursday, December 19th. They set a “buy” rating and a $68.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.93.

Kroger Stock Performance

NYSE KR opened at $61.46 on Monday. Kroger has a fifty-two week low of $44.48 and a fifty-two week high of $63.59. The firm has a market capitalization of $44.47 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.97 and a beta of 0.48. The stock’s fifty day moving average is $59.86 and its two-hundred day moving average is $55.97. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The firm had revenue of $33.63 billion during the quarter, compared to analyst estimates of $34.19 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Kroger’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts anticipate that Kroger will post 4.43 earnings per share for the current year.

Kroger announced that its board has authorized a share buyback program on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 16.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Kroger

In related news, SVP Timothy A. Massa sold 25,889 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $60.12, for a total value of $1,556,446.68. Following the transaction, the senior vice president now owns 115,861 shares of the company’s stock, valued at $6,965,563.32. This represents a 18.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $61.44, for a total value of $1,040,302.08. Following the sale, the chief financial officer now directly owns 53,782 shares of the company’s stock, valued at $3,304,366.08. This trade represents a 23.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,448 shares of company stock valued at $12,143,923 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KR. Mendel Capital Management LLC grew its holdings in shares of Kroger by 0.6% during the third quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock worth $1,808,000 after purchasing an additional 181 shares during the last quarter. SignalPoint Asset Management LLC boosted its position in shares of Kroger by 3.2% in the 3rd 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 grew its stake in 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 buying an additional 215 shares during the last quarter. M3 Advisory Group LLC increased its position in Kroger by 5.6% during the third quarter. M3 Advisory Group LLC now owns 4,285 shares of the company’s stock worth $246,000 after buying an additional 226 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Kroger by 2.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 8,720 shares of the company’s stock valued at $500,000 after buying an additional 238 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.