Kroger (KR) Upgraded by Jefferies Group to Buy
Jefferies Group upgraded shares of Kroger (NYSE:KR) from a hold rating to a buy rating in a research report report published on Friday. They currently have $33.00 price target on the stock, up from their previous price target of $26.98. Jefferies Group also issued estimates for Kroger’s FY2018 earnings at $2.03 EPS, Q1 2019 earnings at $0.58 EPS, FY2019 earnings at $1.94 EPS and FY2021 earnings at $2.35 EPS.
Other equities analysts have also issued research reports about the company. TheStreet upgraded Kroger from a c+ rating to a b rating in a research note on Wednesday, December 27th. Pivotal Research upgraded Kroger from a hold rating to a buy rating and lifted their target price for the company from $21.34 to $25.00 in a research note on Tuesday, September 12th. Hilliard Lyons reiterated a buy rating and issued a $30.00 target price on shares of Kroger in a research note on Tuesday, September 12th. Northcoast Research upgraded Kroger from a neutral rating to a buy rating in a research note on Monday, November 6th. Finally, Moffett Nathanson started coverage on Kroger in a research note on Monday, December 4th. They issued a buy rating on the stock. Seventeen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Kroger has a consensus rating of Hold and a consensus target price of $29.80.
Kroger (NYSE:KR) traded up $0.34 on Friday, reaching $27.32. The company’s stock had a trading volume of 9,593,780 shares, compared to its average volume of 8,406,070. Kroger has a 52 week low of $19.69 and a 52 week high of $34.99. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.85 and a quick ratio of 0.31. The stock has a market capitalization of $23,779.14, a price-to-earnings ratio of 16.26, a PEG ratio of 3.56 and a beta of 0.91.
Kroger (NYSE:KR) last posted its earnings results on Thursday, November 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. Kroger had a return on equity of 28.60% and a net margin of 1.31%. The company had revenue of $27.75 billion for the quarter, compared to analyst estimates of $27.48 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. research analysts predict that Kroger will post 2.03 earnings per share for the current fiscal year.
In related news, insider Christopher T. Hjelm sold 16,530 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $27.00, for a total value of $446,310.00. Following the sale, the insider now owns 243,784 shares in the company, valued at $6,582,168. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Carin L. Fike sold 1,538 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $25.61, for a total value of $39,388.18. Following the completion of the sale, the vice president now owns 25,956 shares in the company, valued at approximately $664,733.16. The disclosure for this sale can be found here. Insiders have sold 58,868 shares of company stock worth $1,607,426 in the last 90 days. Insiders own 0.85% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Howe & Rusling Inc. acquired a new position in Kroger in the third quarter valued at approximately $103,000. Mountain Capital Investment Advisors Inc acquired a new position in Kroger in the second quarter valued at approximately $128,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Kroger by 85.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,888 shares of the company’s stock valued at $137,000 after acquiring an additional 2,708 shares during the period. Archford Capital Strategies LLC lifted its holdings in Kroger by 38,135.3% in the second quarter. Archford Capital Strategies LLC now owns 13,000 shares of the company’s stock valued at $139,000 after acquiring an additional 12,966 shares during the period. Finally, Citizens Financial Group Inc RI lifted its holdings in Kroger by 4.3% in the second quarter. Citizens Financial Group Inc RI now owns 6,165 shares of the company’s stock valued at $144,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 79.59% of the company’s stock.
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Kroger Company Profile
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.
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