Kroger (NYSE:KR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Kroger (NYSE:KR) had its price target boosted by JPMorgan Chase & Co. from $59.00 to $69.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also weighed in on KR. Melius Research initiated coverage on shares of Kroger in a report on Monday, September 23rd. They set a “hold” rating and a $55.00 price objective on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price target on shares of Kroger in a research note on Thursday. Guggenheim increased their target price on Kroger from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI boosted their price target on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Finally, BMO Capital Markets downgraded Kroger from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a report on Tuesday. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and an average target price of $63.33.

Kroger Trading Down 2.4 %

Kroger stock opened at $59.24 on Friday. The stock has a 50-day moving average price of $57.75 and a 200 day moving average price of $54.57. Kroger has a 52 week low of $43.51 and a 52 week high of $61.37. The stock has a market cap of $42.86 billion, a PE ratio of 15.67, a P/E/G ratio of 0.93 and a beta of 0.48. The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $33.63 billion for the quarter, compared to analysts’ expectations of $34.19 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. Equities research analysts predict that Kroger will post 4.45 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.16%. Kroger’s payout ratio is 33.86%.

Insider Activity at Kroger

In other news, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total transaction of $386,247.60. Following the completion of the transaction, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This represents a 32.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $55.91, for a total value of $167,730.00. Following the completion of the transaction, the senior vice president now directly owns 74,084 shares of the company’s stock, valued at $4,142,036.44. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,932 shares of company stock valued at $721,243 over the last three months. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Kroger

Several institutional investors have recently bought and sold shares of KR. Cetera Advisors LLC raised its holdings in Kroger by 31.7% during the first quarter. Cetera Advisors LLC now owns 22,146 shares of the company’s stock worth $1,265,000 after purchasing an additional 5,330 shares in the last quarter. CWM LLC boosted its holdings in Kroger by 24.0% during the second quarter. CWM LLC now owns 32,764 shares of the company’s stock worth $1,636,000 after buying an additional 6,338 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Kroger by 14.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 16,048 shares of the company’s stock worth $801,000 after acquiring an additional 2,058 shares during the last quarter. JGP Wealth Management LLC acquired a new position in shares of Kroger in the 2nd quarter valued at $204,000. Finally, Czech National Bank increased its stake in Kroger by 9.5% in the 2nd quarter. Czech National Bank now owns 127,558 shares of the company’s stock worth $6,369,000 after purchasing an additional 11,102 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Kroger

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.