Kroger (NYSE:KR) Price Target Raised to $76.00

by · The Markets Daily

Kroger (NYSE:KR – Free Report) had its target price hoisted by Morgan Stanley from $71.00 to $76.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

KR has been the topic of a number of other research reports. Roth Capital set a $58.00 price target on shares of Kroger in a research report on Thursday, March 6th. Guggenheim lifted their price objective on Kroger from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup raised their target price on Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Kroger from $57.00 to $67.00 and gave the company a “hold” rating in a research note on Monday. Finally, Melius Research upgraded shares of Kroger from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 20th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Kroger currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.47.

Check Out Our Latest Stock Analysis on Kroger

Kroger Stock Performance

Shares of Kroger stock opened at $72.21 on Monday. The stock has a market cap of $47.72 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.19 and a beta of 0.58. Kroger has a twelve month low of $49.04 and a twelve month high of $74.11. The company’s fifty day moving average is $69.15 and its 200 day moving average is $65.47. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92.

Kroger (NYSE:KR – Get Free Report) last released its quarterly earnings results on Friday, June 20th. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. Kroger had a return on equity of 30.01% and a net margin of 1.76%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 EPS. Sell-side analysts forecast that Kroger will post 4.44 EPS for the current year.

Insiders Place Their Bets

In other Kroger news, EVP Timothy A. Massa sold 8,415 shares of Kroger stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $74.00, for a total transaction of $622,710.00. Following the transaction, the executive vice president now owns 118,761 shares of the company’s stock, valued at $8,788,314. This trade represents a 6.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian W. Nichols sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $72.03, for a total value of $72,030.00. Following the completion of the transaction, the vice president now owns 10,473 shares in the company, valued at $754,370.19. The trade was a 8.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,793 shares of company stock valued at $14,938,358. Corporate insiders own 0.44% of the company’s stock.

Institutional Trading of Kroger

Hedge funds have recently bought and sold shares of the business. IFC Advisors LLC increased its position in shares of Kroger by 1.7% during the 1st quarter. IFC Advisors LLC now owns 8,642 shares of the company’s stock valued at $585,000 after purchasing an additional 142 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Kroger by 0.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 18,045 shares of the company’s stock worth $1,103,000 after acquiring an additional 154 shares during the period. Rothschild Investment LLC grew its position in shares of Kroger by 2.0% during the 1st quarter. Rothschild Investment LLC now owns 8,049 shares of the company’s stock valued at $545,000 after acquiring an additional 155 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Kroger by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,704 shares of the company’s stock worth $410,000 after purchasing an additional 159 shares during the last quarter. Finally, HBK Sorce Advisory LLC raised its holdings in shares of Kroger by 2.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 7,834 shares of the company’s stock worth $479,000 after purchasing an additional 166 shares during the period. 80.93% of the stock is currently owned by institutional investors.

About Kroger

(Get Free Report)

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.

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