Kroger (KR) Price Target Raised to $28.00

Kroger (NYSE:KR) had its target price boosted by Telsey Advisory Group from $24.00 to $28.00 in a research report report published on Friday morning, Marketbeat Ratings reports. Telsey Advisory Group currently has a market perform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Jefferies Group lowered their price target on shares of Kroger from $24.00 to $19.00 and set a hold rating on the stock in a report on Monday, September 11th. Vetr raised shares of Kroger from a buy rating to a strong-buy rating and set a $27.01 price target on the stock in a report on Wednesday, August 9th. UBS cut shares of Kroger from an outperform rating to a market perform rating in a report on Friday, September 8th. Hilliard Lyons reaffirmed a buy rating and issued a $30.00 price target on shares of Kroger in a report on Tuesday, September 12th. Finally, BidaskClub cut shares of Kroger from a buy rating to a hold rating in a report on Thursday, August 17th. Eighteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $28.98.

Kroger (KR) opened at $25.67 on Friday. Kroger has a 1 year low of $19.69 and a 1 year high of $36.44. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.31 and a current ratio of 0.85. The company has a market cap of $22,834.03, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 3.39 and a beta of 0.92.

Kroger (NYSE:KR) last posted its earnings results on Thursday, November 30th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. Kroger had a net margin of 1.31% and a return on equity of 28.60%. The firm had revenue of $27.75 billion for the quarter, compared to analysts’ expectations of $27.48 billion. During the same quarter last year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. sell-side analysts forecast that Kroger will post 2.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.125 per share. The ex-dividend date was Tuesday, November 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.95%. Kroger’s payout ratio is 29.76%.

A number of hedge funds have recently modified their holdings of KR. Janus Henderson Group PLC grew its position in shares of Kroger by 6,611.2% during the 2nd quarter. Janus Henderson Group PLC now owns 8,260,260 shares of the company’s stock valued at $192,630,000 after purchasing an additional 8,137,179 shares in the last quarter. FMR LLC grew its position in shares of Kroger by 17.7% during the 2nd quarter. FMR LLC now owns 49,409,616 shares of the company’s stock valued at $1,152,232,000 after purchasing an additional 7,446,349 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Kroger during the 3rd quarter valued at $119,454,000. Principal Financial Group Inc. grew its position in shares of Kroger by 255.5% during the 2nd quarter. Principal Financial Group Inc. now owns 6,596,264 shares of the company’s stock valued at $153,825,000 after purchasing an additional 4,740,751 shares in the last quarter. Finally, Equity Investment Corp Acquisition Inc purchased a new position in shares of Kroger during the 2nd quarter valued at $71,486,000. 79.10% of the stock is currently owned by institutional investors and hedge funds.

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About Kroger

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

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