Wells Fargo & Company Issues Positive Forecast for Kroger (NYSE:KR) Stock Price

Kroger (NYSE:KR) had its target price boosted by Wells Fargo & Company from $70.00 to $73.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. BNP Paribas started coverage on Kroger in a report on Friday, October 18th. They set a “neutral” rating and a $56.00 price target on the stock. Melius Research assumed coverage on Kroger in a research note on Monday, September 23rd. They set a “hold” rating and a $55.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $65.00 target price on shares of Kroger in a research note on Wednesday. Finally, Evercore ISI boosted their target price on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.31.

Kroger Stock Performance

NYSE KR opened at $62.06 on Thursday. The company has a fifty day moving average of $58.28 and a two-hundred day moving average of $54.89. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. Kroger has a 1 year low of $43.51 and a 1 year high of $63.59. The company has a market capitalization of $44.90 billion, a PE ratio of 16.42, a P/E/G ratio of 0.96 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 (EPS) for the quarter, topping 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 firm 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 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts expect that Kroger will post 4.44 earnings per share for the current year.

Kroger announced that its board has approved a share buyback program on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 16.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Friday, November 15th. Kroger’s dividend payout ratio is currently 33.86%.

Insider Activity

In other Kroger news, SVP Timothy A. Massa sold 25,889 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $60.12, for a total transaction of $1,556,446.68. Following the sale, the senior vice president now directly owns 115,861 shares of the company’s stock, valued at $6,965,563.32. This trade represents a 18.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Carin L. Fike sold 3,010 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now owns 47,593 shares in the company, valued at approximately $2,644,743.01. This trade represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,821 shares of company stock worth $3,445,490 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kroger

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co purchased a new stake in Kroger in the 2nd quarter valued at about $315,000. Wealth Enhancement Advisory Services LLC grew its holdings in Kroger by 36.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 138,978 shares of the company’s stock valued at $6,939,000 after purchasing an additional 36,903 shares during the period. ORG Partners LLC acquired a new position in Kroger during the second quarter worth approximately $42,000. Swedbank AB raised its stake in Kroger by 9.3% during the second quarter. Swedbank AB now owns 342,312 shares of the company’s stock worth $17,092,000 after purchasing an additional 28,992 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Kroger by 17.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 121,295 shares of the company’s stock valued at $6,056,000 after purchasing an additional 18,356 shares during the last quarter. Hedge funds and other institutional investors 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.