Kroger (NYSE:KR) Price Target Raised to $71.00 at Guggenheim

Kroger (NYSE:KR) had its price objective raised by Guggenheim from $68.00 to $71.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 8.92% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. BNP Paribas initiated coverage on Kroger in a research note on Friday, October 18th. They issued a “neutral” rating and a $56.00 price objective for the company. Evercore ISI raised their price objective on shares of Kroger from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on Kroger from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup reiterated a “neutral” rating and issued a $61.00 price objective on shares of Kroger in a research report on Friday, January 24th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price target on shares of Kroger in a research note on Monday, December 23rd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Kroger Stock Up 0.4 %

Shares of KR traded up $0.28 during mid-day trading on Friday, reaching $65.19. The company’s stock had a trading volume of 933,801 shares, compared to its average volume of 5,257,415. The company’s 50 day moving average is $60.75 and its 200 day moving average is $57.36. The stock has a market cap of $47.17 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 2.90 and a beta of 0.47. Kroger has a 12-month low of $44.49 and a 12-month high of $65.75. 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 (NYSE:KR) last issued its earnings results on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The business had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts anticipate that Kroger will post 4.44 EPS for the current fiscal year.

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

Insider Activity at Kroger

In related news, SVP Yael Cosset sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $58.39, for a total transaction of $1,167,800.00. Following the sale, the senior vice president now directly owns 144,620 shares in the company, valued at approximately $8,444,361.80. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stuart Aitken sold 132,627 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 217,523 shares of the company’s stock, valued at approximately $13,743,103.14. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,448 shares of company stock worth $12,143,923. 1.40% of the stock is owned by insiders.

Institutional Trading of Kroger

Hedge funds and other institutional investors have recently modified their holdings of the business. Whipplewood Advisors LLC purchased a new stake in Kroger during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of Kroger in the fourth quarter worth $32,000. Northwest Investment Counselors LLC bought a new position in Kroger during the 3rd quarter valued at $34,000. Adirondack Trust Co. grew its holdings in Kroger by 1,628.1% during the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after acquiring an additional 521 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Kroger in the 4th quarter valued at about $39,000. 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.