JPMorgan Chase & Co. Increases Kroger (NYSE:KR) Price Target to $59.00

Kroger (NYSE:KR) had its price target increased by JPMorgan Chase & Co. from $58.00 to $59.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also weighed in on KR. Telsey Advisory Group restated an outperform rating and issued a $62.00 price objective on shares of Kroger in a report on Monday, September 9th. StockNews.com raised shares of Kroger from a buy rating to a strong-buy rating in a report on Thursday, July 18th. Morgan Stanley raised their target price on shares of Kroger from $57.00 to $58.00 and gave the company an equal weight rating in a research report on Friday. Argus lifted their price objective on Kroger from $70.00 to $72.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Finally, Wolfe Research raised shares of Kroger to a strong-buy rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $59.09.

Kroger Stock Up 0.5 %

KR stock opened at $56.19 on Friday. The firm has a market cap of $40.56 billion, a PE ratio of 19.18, a PEG ratio of 0.80 and a beta of 0.47. Kroger has a 1 year low of $42.10 and a 1 year high of $58.34. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97. The company has a fifty day simple moving average of $53.46 and a 200 day simple moving average of $53.74.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Sell-side analysts anticipate that Kroger will post 4.45 EPS for the current fiscal year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a $0.32 dividend. The ex-dividend date was Thursday, August 15th. This is a positive change from Kroger’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 2.28%. Kroger’s payout ratio is 43.69%.

Insider Buying and Selling at Kroger

In related news, VP Brian W. Nichols sold 2,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $54.53, for a total value of $109,060.00. Following the completion of the transaction, the vice president now directly owns 18,063 shares of the company’s stock, valued at $984,975.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

Institutional investors and hedge funds have recently modified their holdings of the stock. Creekmur Asset Management LLC bought a new position in shares of Kroger in the 4th quarter worth approximately $26,000. Valued Wealth Advisors LLC grew its position in shares of Kroger by 255.6% during the 1st quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock worth $26,000 after buying an additional 322 shares in the last quarter. Scarborough Advisors LLC bought a new position in Kroger in the fourth quarter worth about $28,000. Hexagon Capital Partners LLC boosted its holdings in Kroger by 101.6% in the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in shares of Kroger in the second quarter valued at about $28,000. 80.93% of the stock is currently owned by institutional investors.

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.