Kroger (NYSE:KR) Price Target Raised to $65.00

Kroger (NYSE:KR) had its price target increased by Morgan Stanley from $62.00 to $65.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets raised their price target on shares of Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a report on Thursday, December 12th. StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Melius Research began coverage on Kroger in a research report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price objective on the stock. Roth Mkm upped their target price on Kroger from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, UBS Group lifted their price target on shares of Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.14.

Kroger Price Performance

NYSE:KR opened at $58.54 on Tuesday. Kroger has a 52-week low of $44.48 and a 52-week high of $63.59. The stock has a fifty day moving average of $60.16 and a 200 day moving average of $56.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The firm has a market capitalization of $42.36 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 2.77 and a beta of 0.48.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts expect that Kroger will post 4.44 EPS for the current fiscal year.

Kroger declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 16.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Kroger

In other news, SVP Stuart Aitken sold 132,627 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $63.18, for a total value of $8,379,373.86. Following the sale, the senior vice president now directly owns 217,523 shares in the company, valued at $13,743,103.14. This represents a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd A. Foley sold 16,932 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the completion of the transaction, the chief financial officer now directly owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. This represents a 23.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,448 shares of company stock worth $12,143,923 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Kroger

Several institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new position in Kroger in the third quarter valued at approximately $34,000. Adirondack Trust Co. raised its stake in shares of Kroger by 1,628.1% in the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock valued at $34,000 after acquiring an additional 521 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Kroger by 218.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after acquiring an additional 490 shares in the last quarter. Crews Bank & Trust purchased a new stake in Kroger during the 4th quarter worth $39,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Kroger in the 3rd quarter valued at $40,000. 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.