Kroger (NYSE:KR) Sets New 52-Week High on Analyst Upgrade

Shares of The Kroger Co. (NYSE:KR) hit a new 52-week high during mid-day trading on Monday after Guggenheim raised their price target on the stock from $61.00 to $63.00. Guggenheim currently has a buy rating on the stock. Kroger traded as high as $60.41 and last traded at $60.37, with a volume of 1503183 shares. The stock had previously closed at $59.22.

A number of other analysts have also weighed in on KR. Evercore ISI increased their price objective on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. BNP Paribas initiated coverage on Kroger in a research note on Friday, October 18th. They set a “neutral” rating and a $56.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, September 13th. StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Morgan Stanley boosted their target price on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.27.

Insiders Place Their Bets

In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the transaction, the vice president now owns 14,063 shares of the company’s stock, valued at approximately $784,715.40. The trade was a 32.99 % 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, VP Carin L. Fike sold 3,010 shares of Kroger stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the transaction, the vice president now directly owns 47,593 shares in the company, valued at $2,644,743.01. This trade represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,932 shares of company stock worth $721,243. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kroger

A number of institutional investors and hedge funds have recently made changes to their positions in KR. Wellington Management Group LLP boosted its stake in shares of Kroger by 11,570.7% in the third quarter. Wellington Management Group LLP now owns 2,729,788 shares of the company’s stock valued at $156,417,000 after purchasing an additional 2,706,398 shares during the period. Point72 Asset Management L.P. boosted its position in Kroger by 96.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock valued at $268,689,000 after buying an additional 2,643,811 shares during the period. State Street Corp grew its stake in shares of Kroger by 6.8% in the third quarter. State Street Corp now owns 33,057,629 shares of the company’s stock worth $1,894,202,000 after acquiring an additional 2,110,681 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Kroger by 110.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,574,651 shares of the company’s stock worth $204,828,000 after acquiring an additional 1,876,397 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Kroger by 698.8% in the second 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 in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Stock Performance

The stock has a fifty day moving average of $56.89 and a 200-day moving average of $54.22. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $43.68 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.92 and a beta of 0.48.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $33.91 billion during the quarter, compared to analysts’ expectations of $34.09 billion. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 EPS. Equities analysts anticipate that The Kroger Co. will post 4.46 earnings per share for the current fiscal year.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.12%. Kroger’s dividend payout ratio is presently 33.51%.

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.