Telsey Advisory Group Issues Positive Forecast for Kroger (NYSE:KR) Stock Price

Kroger (NYSE:KR) had its price target increased by Telsey Advisory Group from $62.00 to $65.00 in a research report released on Wednesday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Several other analysts have also recently issued reports on KR. Guggenheim upped their price objective on Kroger from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Monday. BNP Paribas assumed coverage on Kroger in a report on Friday, October 18th. They set a “neutral” rating and a $56.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Melius Research initiated coverage on Kroger in a report on Monday, September 23rd. They set a “hold” rating and a $55.00 price target on the stock. Finally, Evercore ISI increased their price target on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kroger presently has a consensus rating of “Moderate Buy” and an average price target of $60.55.

Kroger Stock Down 0.1 %

NYSE KR opened at $60.52 on Wednesday. The stock’s 50 day moving average is $57.19 and its 200 day moving average is $54.33. The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96. Kroger has a 12 month low of $42.97 and a 12 month high of $61.18. The stock has a market cap of $43.79 billion, a PE ratio of 15.84, a P/E/G ratio of 0.93 and a beta of 0.48.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The company had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same period in the previous year, the firm earned $0.96 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Research analysts predict that Kroger will post 4.46 EPS for the current fiscal year.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.12%. Kroger’s payout ratio is 33.51%.

Insiders Place Their Bets

In other news, 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 transaction of $167,265.70. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian W. Nichols sold 6,922 shares of the firm’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 transaction, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This represents a 32.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,932 shares of company stock worth $721,243 over the last quarter. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

Several institutional investors have recently made changes to their positions in KR. Altshuler Shaham Ltd purchased a new position in Kroger in the second quarter valued at about $28,000. Northwest Investment Counselors LLC purchased a new position in Kroger in the third quarter valued at about $34,000. Harbor Capital Advisors Inc. purchased a new position in Kroger in the third quarter valued at about $40,000. Newbridge Financial Services Group Inc. grew its stake in Kroger by 218.8% in the second 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. Finally, Capital Performance Advisors LLP purchased a new position in Kroger in the third quarter valued at about $43,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.