Kroger (NYSE:KR) Price Target Raised to $63.00 at Evercore ISI

Kroger (NYSE:KR) had its target price raised by Evercore ISI from $62.00 to $63.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently commented on the stock. Wolfe Research upgraded shares of Kroger to a strong-buy rating in a research report on Friday, June 21st. Argus raised their price target on Kroger from $70.00 to $72.00 and gave the company a buy rating in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Kroger from $60.00 to $58.00 and set an overweight rating for the company in a report on Friday, June 21st. StockNews.com upgraded shares of Kroger from a buy rating to a strong-buy rating in a research report on Thursday, July 18th. Finally, Morgan Stanley boosted their price target on shares of Kroger from $57.00 to $58.00 and gave the stock an equal weight rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Kroger has an average rating of Moderate Buy and an average price target of $59.09.

Kroger Stock Up 1.3 %

Shares of NYSE:KR opened at $55.91 on Friday. The firm has a market cap of $40.36 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 0.80 and a beta of 0.47. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97. Kroger has a 12-month low of $42.10 and a 12-month high of $58.34. The company has a fifty day simple moving average of $53.38 and a 200 day simple moving average of $53.62.

Kroger (NYSE:KR) last announced 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 firm had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. On average, equities research analysts anticipate that Kroger will post 4.45 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.32 dividend. This is a boost from Kroger’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.29%. Kroger’s payout ratio is presently 43.69%.

Insider Transactions at Kroger

In related news, VP Brian W. Nichols sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $54.53, for a total value of $109,060.00. Following the transaction, the vice president now directly owns 18,063 shares of the company’s stock, valued at approximately $984,975.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kroger

Several large investors have recently bought and sold shares of the stock. Sanders Capital LLC grew its holdings in shares of Kroger by 5.0% during the 4th quarter. Sanders Capital LLC now owns 23,786,389 shares of the company’s stock worth $1,087,276,000 after purchasing an additional 1,123,427 shares in the last quarter. Capital World Investors boosted its stake in Kroger by 1.5% during the fourth quarter. Capital World Investors now owns 14,453,142 shares of the company’s stock worth $660,653,000 after buying an additional 214,852 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Kroger by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,591,402 shares of the company’s stock valued at $678,562,000 after buying an additional 723,771 shares during the period. Legal & General Group Plc raised its stake in shares of Kroger by 13.4% in the 2nd quarter. Legal & General Group Plc now owns 7,759,992 shares of the company’s stock valued at $387,456,000 after buying an additional 917,923 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Kroger by 96.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock worth $268,689,000 after acquiring an additional 2,643,811 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.