Kroger (NYSE:KR) Price Target Cut to $60.00 by Analysts at Evercore ISI

Kroger (NYSE:KRFree Report) had its price objective trimmed by Evercore ISI from $61.00 to $60.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the company. BNP Paribas reiterated an underperform rating and issued a $48.00 price target on shares of Kroger in a report on Monday, April 8th. Telsey Advisory Group reiterated an outperform rating and issued a $62.00 price target on shares of Kroger in a report on Monday, June 17th. BMO Capital Markets upgraded Kroger from a market perform rating to an outperform rating and raised their price objective for the stock from $58.00 to $60.00 in a report on Tuesday, June 18th. Guggenheim raised their price objective on Kroger from $60.00 to $61.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company upgraded Kroger from an equal weight rating to an overweight rating and raised their price objective for the stock from $58.00 to $65.00 in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $56.20.

Check Out Our Latest Report on KR

Kroger Stock Performance

NYSE KR opened at $50.21 on Thursday. The firm has a market cap of $36.24 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.90 and a beta of 0.43. The company has a quick ratio of 0.36, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $53.65 and a 200-day moving average price of $50.79. Kroger has a twelve month low of $42.10 and a twelve month high of $58.34.

Kroger (NYSE:KRGet Free Report) last announced its quarterly earnings results on Thursday, June 20th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The company had revenue of $45.27 billion during the quarter, compared to analyst estimates of $44.86 billion. During the same period in the prior year, the company earned $1.51 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts predict that Kroger will post 4.43 EPS for the current fiscal year.

Insider Activity at Kroger

In other Kroger news, SVP Valerie L. Jabbar sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.52, for a total transaction of $832,800.00. Following the transaction, the senior vice president now directly owns 77,696 shares in the company, valued at $4,313,681.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kroger news, SVP Valerie L. Jabbar sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.52, for a total transaction of $832,800.00. Following the transaction, the senior vice president now directly owns 77,696 shares in the company, valued at $4,313,681.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 3,929 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the sale, the vice president now directly owns 3,768 shares in the company, valued at approximately $214,889.04. The disclosure for this sale can be found here. Insiders sold a total of 55,796 shares of company stock worth $3,118,767 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

Several large investors have recently bought and sold shares of KR. Creekmur Asset Management LLC acquired a new position in Kroger in the fourth quarter valued at $26,000. Valued Wealth Advisors LLC boosted its stake in Kroger by 255.6% in the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after acquiring an additional 322 shares in the last quarter. SouthState Corp boosted its stake in Kroger by 334.3% in the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock valued at $27,000 after acquiring an additional 458 shares in the last quarter. VisionPoint Advisory Group LLC boosted its stake in shares of Kroger by 370.1% during the third quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after buying an additional 496 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Kroger during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Company Profile

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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.

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