The Kroger Co. (NYSE:KR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of The Kroger Co. (NYSE:KR) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $58.64.

A number of equities research analysts have weighed in on the stock. Argus lifted their price target on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $62.00 price target on shares of Kroger in a research note on Monday, June 17th. BMO Capital Markets upgraded shares of Kroger from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, June 18th. Finally, Evercore ISI decreased their price target on shares of Kroger from $61.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th.

Kroger Trading Up 0.1 %

Shares of KR stock opened at $52.68 on Thursday. Kroger has a 1 year low of $42.10 and a 1 year high of $58.34. The firm’s fifty day simple moving average is $52.41 and its 200 day simple moving average is $52.68. The firm has a market capitalization of $38.02 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 0.86 and a beta of 0.45. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97.

Kroger (NYSE:KR) last announced its earnings results on Thursday, June 20th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The business had revenue of $45.27 billion for the quarter, compared to analyst estimates of $44.86 billion. During the same quarter in the previous year, the firm posted $1.51 earnings per share. Kroger’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Kroger will post 4.45 EPS for the current year.

Kroger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be issued a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 9.72%. This is a boost from Kroger’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, August 15th. Kroger’s payout ratio is currently 43.69%.

Insider Activity at Kroger

In related news, VP Brian W. Nichols sold 2,000 shares of Kroger stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $54.53, for a total value of $109,060.00. Following the completion of the transaction, the vice president now directly owns 18,063 shares of the company’s stock, valued at $984,975.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Kroger

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd raised its holdings in Kroger by 38.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 61,467 shares of the company’s stock worth $3,069,000 after purchasing an additional 17,034 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Kroger by 96.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock worth $268,689,000 after purchasing an additional 2,643,811 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Kroger by 60.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 131,303 shares of the company’s stock worth $6,556,000 after purchasing an additional 49,704 shares during the last quarter. Distillate Capital Partners LLC bought a new stake in shares of Kroger in the 2nd quarter valued at about $17,396,000. Finally, Marshall Wace LLP increased its stake in shares of Kroger by 698.8% in the 2nd quarter. Marshall Wace LLP now owns 1,878,479 shares of the company’s stock valued at $93,792,000 after acquiring an additional 1,643,307 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

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.