Guggenheim Boosts Kroger (NYSE:KR) Price Target to $63.00

Kroger (NYSE:KR) had its price objective increased by equities researchers at Guggenheim from $61.00 to $63.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 3.98% from the company’s current price.

Several other equities analysts also recently commented on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Kroger in a research report on Wednesday, October 9th. Evercore ISI boosted their price target on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, September 13th. StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. increased their price target on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, BNP Paribas initiated coverage on shares of Kroger in a research note on Friday, October 18th. They issued a “neutral” rating and a $56.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.27.

Kroger Stock Performance

NYSE KR opened at $60.59 on Monday. The business’s 50 day moving average price is $57.07 and its 200-day moving average price is $54.29. Kroger has a fifty-two week low of $42.97 and a fifty-two week high of $60.70. The company has a market cap of $43.84 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.92 and a beta of 0.48. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The business had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Kroger will post 4.46 earnings per share for the current year.

Insider Activity at Kroger

In other Kroger news, VP Carin L. Fike sold 3,010 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total value of $167,265.70. Following the completion of the transaction, the vice president now owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. This trade represents a 5.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Valerie L. Jabbar sold 3,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the sale, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,932 shares of company stock valued at $721,243 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

A number of institutional investors have recently bought and sold shares of KR. Advisors Asset Management Inc. lifted its position in Kroger by 8.4% during the first quarter. Advisors Asset Management Inc. now owns 23,288 shares of the company’s stock valued at $1,330,000 after purchasing an additional 1,797 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Kroger by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 906,148 shares of the company’s stock worth $51,769,000 after acquiring an additional 20,200 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of Kroger by 51.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,364 shares of the company’s stock valued at $649,000 after purchasing an additional 3,872 shares in the last quarter. LBP AM SA lifted its stake in shares of Kroger by 293.6% in the 1st quarter. LBP AM SA now owns 38,213 shares of the company’s stock valued at $2,183,000 after purchasing an additional 28,504 shares during the period. Finally, Vista Investment Partners LLC grew its position in Kroger by 1.0% during the first quarter. Vista Investment Partners LLC now owns 67,932 shares of the company’s stock valued at $3,881,000 after buying an additional 640 shares during the period. 80.93% of the stock is owned by hedge funds and other 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.