Kroger (NYSE:KR)‘s stock had its “buy” rating restated by equities researchers at Pivotal Research in a research note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $30.00 price objective on the stock, up from their previous price objective of $26.00. Pivotal Research’s target price would suggest a potential upside of 16.37% from the stock’s previous close.
The analysts wrote, “We’re in line with consensus for in EPS. Following a tentative deal to avoid a strike in Southern California, Kroger appears to have dodged a major bullet within the past few days. However, the resolution of that contract comes as Kroger is still dealing with ongoing labor issues and the threat of a strike at Southwest Washington. VALUATION – Our price target of $26 PT is unchanged reflects a forward PE multiple of 13x our FY19 EPS estimate which is line with Kroger’s historical average. A target EV/EBITDA level of 6.7x is also in line with historical levels and with Ahold/Delhaize. RISKS – If Kroger needs to respond to incremental competitive threats, industry-wide deflationary (or inflationary) pressures, or if there is a significant contraction in the employment cycle, Kroger’s valuation metrics could be at risk.””
Other analysts have also issued reports about the company. Telsey Advisory Group reissued a “market perform” rating and issued a $27.00 price objective (down from $29.00) on shares of Kroger in a report on Friday, June 21st. Sanford C. Bernstein raised Kroger from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a report on Monday, May 20th. TheStreet lowered Kroger from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th. BMO Capital Markets reissued a “market perform” rating and issued a $26.00 price objective (up from $24.00) on shares of Kroger in a report on Wednesday, September 4th. Finally, Zacks Investment Research raised Kroger from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.94.
Kroger stock traded up $0.19 during midday trading on Wednesday, hitting $25.78. The stock had a trading volume of 80,678 shares, compared to its average volume of 7,947,258. The company has a current ratio of 0.75, a quick ratio of 0.25 and a debt-to-equity ratio of 2.16. The stock has a market cap of $20.62 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.83 and a beta of 0.56. Kroger has a 12 month low of $20.70 and a 12 month high of $31.98. The business has a fifty day moving average price of $23.07 and a 200 day moving average price of $23.97.
Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The firm had revenue of $28.17 billion during the quarter, compared to analyst estimates of $28.34 billion. Kroger had a return on equity of 21.79% and a net margin of 1.54%. Kroger’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that Kroger will post 2.17 EPS for the current fiscal year.
In other news, insider Stephen M. Mckinney sold 15,600 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.05, for a total transaction of $343,980.00. Following the completion of the transaction, the insider now directly owns 168,070 shares of the company’s stock, valued at $3,705,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald Sargent bought 5,000 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were bought at an average cost of $21.49 per share, with a total value of $107,450.00. Following the completion of the acquisition, the director now directly owns 94,660 shares of the company’s stock, valued at approximately $2,034,243.40. The disclosure for this purchase can be found here. Insiders have sold 43,600 shares of company stock valued at $955,450 over the last ninety days. Corporate insiders own 1.34% of the company’s stock.
A number of hedge funds have recently modified their holdings of KR. Geode Capital Management LLC grew its holdings in Kroger by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 12,008,444 shares of the company’s stock worth $329,733,000 after buying an additional 874,376 shares in the last quarter. Hollencrest Capital Management bought a new position in Kroger in the 1st quarter worth approximately $947,000. Janney Montgomery Scott LLC grew its holdings in Kroger by 12.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 68,831 shares of the company’s stock worth $1,693,000 after buying an additional 7,774 shares in the last quarter. Stephens Inc. AR grew its holdings in Kroger by 56.3% in the 1st quarter. Stephens Inc. AR now owns 106,218 shares of the company’s stock worth $2,613,000 after buying an additional 38,281 shares in the last quarter. Finally, First Allied Advisory Services Inc. grew its holdings in Kroger by 5.5% in the 1st quarter. First Allied Advisory Services Inc. now owns 102,421 shares of the company’s stock worth $2,520,000 after buying an additional 5,307 shares in the last quarter. 80.64% of the stock is owned by institutional investors and hedge funds.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.
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