Kroger Company (The) (KR) Lowered to “Buy” at Vetr Inc.
Kroger Company (The) (NYSE:KR) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, July 25th. They presently have a $26.26 price objective on the stock. Vetr‘s price objective indicates a potential upside of 7.10% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Loop Capital initiated coverage on shares of Kroger Company (The) in a research note on Monday, May 15th. They issued a “hold” rating and a $32.00 price target on the stock. TheStreet downgraded shares of Kroger Company (The) from a “b” rating to a “c+” rating in a research note on Thursday, June 15th. Wells Fargo & Company reissued an “outperform” rating and issued a $28.00 price target on shares of Kroger Company (The) in a research note on Sunday, July 2nd. BMO Capital Markets set a $32.00 price target on shares of Kroger Company (The) and gave the stock a “hold” rating in a research note on Saturday, June 10th. Finally, J P Morgan Chase & Co downgraded shares of Kroger Company (The) from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $24.00 in a research note on Friday, June 16th. Nineteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.51.
Shares of Kroger Company (NYSE KR) traded down 0.469% on Tuesday, hitting $24.405. 3,975,431 shares of the stock traded hands. The company has a market cap of $21.90 billion, a PE ratio of 14.693 and a beta of 0.76. Kroger Company has a one year low of $20.46 and a one year high of $36.44. The stock has a 50 day moving average of $23.73 and a 200 day moving average of $28.96. Kroger Company (The) also was the recipient of unusually large options trading activity on Monday. Investors purchased 9,005 put options on the company. This is an increase of 204% compared to the average volume of 2,965 put options.
Kroger Company (The) (NYSE:KR) last posted its quarterly earnings data on Thursday, June 15th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $36.29 billion for the quarter, compared to the consensus estimate of $35.69 billion. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. Equities analysts anticipate that Kroger Company will post $1.98 earnings per share for the current year.
Kroger Company (The) announced that its Board of Directors has initiated a stock buyback plan on Thursday, June 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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In other Kroger Company (The) news, insider J Michael Schlotman bought 2,000 shares of Kroger Company (The) stock in a transaction dated Monday, June 26th. The stock was bought at an average cost of $22.73 per share, for a total transaction of $45,460.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Joseph Donnelly sold 17,600 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $30.01, for a total value of $528,176.00. Following the transaction, the insider now owns 249,208 shares of the company’s stock, valued at $7,478,732.08. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia boosted its position in shares of Kroger Company (The) by 906.4% in the first quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock valued at $6,247,000 after buying an additional 190,790 shares during the period. Selway Asset Management purchased a new position in shares of Kroger Company (The) during the first quarter valued at about $492,000. Holderness Investments Co. purchased a new position in shares of Kroger Company (The) during the first quarter valued at about $277,000. Hosking Partners LLP boosted its position in shares of Kroger Company (The) by 10.2% in the first quarter. Hosking Partners LLP now owns 528,328 shares of the company’s stock valued at $15,580,000 after buying an additional 48,785 shares during the period. Finally, Whittier Trust Co. boosted its position in shares of Kroger Company (The) by 11.4% in the first quarter. Whittier Trust Co. now owns 94,145 shares of the company’s stock valued at $2,775,000 after buying an additional 9,646 shares during the period. Institutional investors own 77.42% of the company’s stock.
About Kroger Company (The)
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
To view Vetr’s full report, visit Vetr’s official website.
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