Kroger (NYSE:KR) Upgraded at StockNews.com

StockNews.com upgraded shares of Kroger (NYSE:KR) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

A number of other analysts have also issued reports on KR. Evercore ISI lowered their price target on Kroger from $61.00 to $60.00 and set an outperform rating for the company in a report on Thursday, June 20th. BMO Capital Markets raised shares of Kroger from a market perform rating to an outperform rating and boosted their price objective for the stock from $58.00 to $60.00 in a research note on Tuesday, June 18th. Wolfe Research raised shares of Kroger to a strong-buy rating in a research note on Friday, June 21st. BNP Paribas reissued an underperform rating and issued a $48.00 price objective on shares of Kroger in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised shares of Kroger from an equal weight rating to an overweight rating and boosted their price objective for the stock from $58.00 to $65.00 in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kroger presently has a consensus rating of Moderate Buy and a consensus price target of $57.30.

Kroger Stock Up 2.1 %

Shares of NYSE:KR opened at $51.84 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.45. The firm has a market capitalization of $37.42 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.79 and a beta of 0.45. The business has a 50 day simple moving average of $52.62 and a two-hundred day simple moving average of $51.06. Kroger has a 1 year low of $42.10 and a 1 year high of $58.34.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, June 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $45.27 billion during the quarter, compared to analyst estimates of $44.86 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. Kroger’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 earnings per share. On average, equities analysts predict that Kroger will post 4.45 EPS for the current year.

Kroger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a dividend of $1.28 per share. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from Kroger’s previous quarterly dividend of $0.29. This represents a $5.12 dividend on an annualized basis and a dividend yield of 9.88%. Kroger’s dividend payout ratio is presently 39.59%.

Insider Activity

In other news, VP Carin L. Fike sold 3,929 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total transaction of $224,070.87. Following the sale, the vice president now directly owns 3,768 shares of the company’s stock, valued at $214,889.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Kroger news, SVP Kenneth C. Kimball sold 30,251 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $55.98, for a total value of $1,693,450.98. Following the sale, the senior vice president now directly owns 105,298 shares of the company’s stock, valued at $5,894,582.04. The transaction was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $57.03, for a total transaction of $224,070.87. Following the completion of the sale, the vice president now directly owns 3,768 shares in the company, valued at $214,889.04. The disclosure for this sale can be found here. Insiders have sold 55,796 shares of company stock valued at $3,118,767 over the last ninety days. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kroger

Several hedge funds have recently added to or reduced their stakes in KR. Ameriprise Financial Inc. boosted its holdings in Kroger by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 2,619,742 shares of the company’s stock valued at $117,246,000 after purchasing an additional 50,177 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Kroger by 10.1% during the 3rd quarter. Alps Advisors Inc. now owns 7,423 shares of the company’s stock worth $332,000 after acquiring an additional 678 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Kroger during the 3rd quarter worth about $42,220,000. Jackson Wealth Management LLC boosted its stake in shares of Kroger by 4.2% during the 3rd quarter. Jackson Wealth Management LLC now owns 32,258 shares of the company’s stock worth $1,444,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Kroger by 10.9% during the 3rd quarter. Sei Investments Co. now owns 585,483 shares of the company’s stock worth $26,201,000 after acquiring an additional 57,595 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other 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.