Kroger (NYSE:KR) Price Target Raised to $59.00

Kroger (NYSE:KR) had its price target lifted by JPMorgan Chase & Co. from $58.00 to $59.00 in a report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

KR has been the topic of a number of other research reports. Evercore ISI boosted their price target on Kroger from $62.00 to $63.00 and gave the stock an outperform rating in a research note on Friday. Argus raised their price target on shares of Kroger from $70.00 to $72.00 and gave the stock a buy rating in a report on Monday, July 22nd. Wolfe Research raised shares of Kroger to a strong-buy rating in a report on Friday, June 21st. Telsey Advisory Group restated an outperform rating and issued a $62.00 target price on shares of Kroger in a research note on Monday, September 9th. Finally, StockNews.com upgraded Kroger from a buy rating to a strong-buy rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Kroger presently has an average rating of Moderate Buy and an average target price of $59.09.

Kroger Stock Performance

KR stock opened at $55.91 on Friday. The firm has a 50-day simple moving average of $53.38 and a two-hundred day simple moving average of $53.69. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.45 and a current ratio of 0.86. Kroger has a one year low of $42.10 and a one year high of $58.34. The firm has a market cap of $40.36 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.80 and a beta of 0.47.

Kroger (NYSE:KR) last announced its earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The company had revenue of $33.91 billion during the quarter, compared to the consensus estimate of $34.09 billion. During the same period last year, the firm earned $0.96 earnings per share. Kroger’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Kroger will post 4.45 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.32 dividend. This is a boost from Kroger’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 15th. Kroger’s payout ratio is currently 43.69%.

Insider Activity at Kroger

In other Kroger news, VP Brian W. Nichols sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $54.53, for a total value of $109,060.00. Following the sale, the vice president now directly owns 18,063 shares of the company’s stock, valued at $984,975.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in Kroger by 7.4% during the 4th quarter. International Assets Investment Management LLC now owns 12,422 shares of the company’s stock worth $568,000 after purchasing an additional 859 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Kroger in the fourth quarter worth about $183,000. Jump Financial LLC boosted its position in Kroger by 23.2% during the fourth quarter. Jump Financial LLC now owns 10,432 shares of the company’s stock worth $477,000 after acquiring an additional 1,966 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Kroger by 0.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 160,779 shares of the company’s stock valued at $7,349,000 after acquiring an additional 706 shares during the last quarter. Finally, Foundations Investment Advisors LLC acquired a new stake in Kroger in the 4th quarter valued at about $232,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.