Kroger (NYSE:KR) Rating Reiterated by Credit Suisse Group
Credit Suisse Group restated their outperform rating on shares of Kroger (NYSE:KR) in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have a $29.00 price target on the stock, up from their previous price target of $27.00.
A number of other research firms have also commented on KR. Sanford C. Bernstein raised Kroger from a market perform rating to an outperform rating and set a $33.00 price objective on the stock in a research note on Monday, May 20th. TheStreet lowered Kroger from a b- rating to a c+ rating in a research note on Wednesday, June 5th. Bank of America reduced their price objective on Kroger from $37.00 to $30.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Pivotal Research restated a buy rating and set a $30.00 target price (up previously from $26.00) on shares of Kroger in a research report on Wednesday, September 11th. Finally, Zacks Investment Research upgraded Kroger from a sell rating to a hold rating and set a $26.00 target price for the company in a research report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Kroger has a consensus rating of Hold and a consensus price target of $28.06.
Kroger stock opened at $25.98 on Friday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.25 and a current ratio of 0.76. The firm has a market cap of $20.44 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.80 and a beta of 0.56. The business’s fifty day moving average is $23.45 and its two-hundred day moving average is $23.92. Kroger has a 52 week low of $20.70 and a 52 week high of $31.98.
The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Kroger’s previous quarterly dividend of $0.14. Kroger’s payout ratio is presently 30.33%.
In related news, EVP J Michael Schlotman sold 68,187 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $26.02, for a total value of $1,774,225.74. Following the completion of the sale, the executive vice president now owns 295,160 shares in the company, valued at $7,680,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Joseph Donnelly sold 1,574 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $26.46, for a total value of $41,648.04. Following the completion of the sale, the chief operating officer now owns 324,209 shares of the company’s stock, valued at approximately $8,578,570.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,361 shares of company stock valued at $2,771,324. 1.34% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KR. TRUE Private Wealth Advisors bought a new stake in Kroger in the second quarter valued at about $26,000. Sageworth Trust Co bought a new stake in Kroger in the second quarter valued at about $33,000. Capital Investment Advisory Services LLC increased its holdings in Kroger by 57.2% in the second quarter. Capital Investment Advisory Services LLC now owns 1,787 shares of the company’s stock valued at $37,000 after purchasing an additional 650 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Kroger in the first quarter valued at about $38,000. Finally, Enterprise Financial Services Corp increased its holdings in Kroger by 151.6% in the second quarter. Enterprise Financial Services Corp now owns 1,935 shares of the company’s stock valued at $41,000 after purchasing an additional 1,166 shares during the last quarter. Institutional investors and hedge funds own 80.51% of the company’s stock.
Kroger Company Profile
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.
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