BNP Paribas Begins Coverage on Kroger (NYSE:KR)

BNP Paribas started coverage on shares of Kroger (NYSE:KR) in a research report report published on Friday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $56.00 target price on the stock.

A number of other brokerages have also commented on KR. Argus boosted their price objective on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wolfe Research raised shares of Kroger to a “strong-buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. lifted their target price on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Melius Research began coverage on Kroger in a research report on Monday, September 23rd. They set a “hold” rating and a $55.00 price target for the company. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price target on shares of Kroger in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.09.

Kroger Stock Down 0.0 %

Shares of KR stock opened at $56.53 on Friday. Kroger has a 12-month low of $42.10 and a 12-month high of $58.34. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The firm has a fifty day moving average of $54.44 and a 200-day moving average of $53.85. The company has a market capitalization of $40.80 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 0.87 and a beta of 0.47.

Kroger (NYSE:KR) last released 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 the consensus estimate of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. As a group, equities research analysts predict that Kroger will post 4.46 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.32 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.26%. Kroger’s dividend payout ratio is currently 43.69%.

Insider Transactions at Kroger

In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the transaction, the vice president now directly owns 14,063 shares of the company’s stock, valued at $784,715.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kroger news, SVP Valerie L. Jabbar sold 3,000 shares of Kroger stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the completion of the sale, the senior vice president now owns 74,084 shares in the company, valued at $4,142,036.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the transaction, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,932 shares of company stock worth $721,243. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Kroger

A number of hedge funds have recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC raised its position in Kroger by 255.6% during the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after purchasing an additional 322 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Kroger by 101.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after buying an additional 250 shares during the last quarter. Palisade Asset Management LLC bought a new position in Kroger in the first quarter valued at about $29,000. Altshuler Shaham Ltd bought a new position in shares of Kroger in the second quarter worth about $28,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Kroger during the 1st quarter valued at approximately $34,000. Institutional investors own 80.93% of the company’s stock.

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.