Kroger (NYSE:KR) Given New $72.00 Price Target at JPMorgan Chase & Co.

Kroger (NYSE:KR) had its price objective boosted by JPMorgan Chase & Co. from $71.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts also recently commented on KR. Wells Fargo & Company boosted their target price on Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 price objective on shares of Kroger in a research note on Tuesday, February 4th. Morgan Stanley raised their target price on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. UBS Group lifted their price target on Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Evercore ISI increased their price objective on shares of Kroger from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Kroger Stock Performance

Kroger stock opened at $66.81 on Friday. The firm has a market capitalization of $48.34 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.85 and a beta of 0.51. The stock has a fifty day moving average price of $62.27 and a two-hundred day moving average price of $59.04. Kroger has a 52-week low of $49.04 and a 52-week high of $67.57. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07.

Kroger (NYSE:KR) last announced its earnings results on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The business had revenue of $34.31 billion during the quarter, compared to analysts’ expectations of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. As a group, analysts anticipate that Kroger will post 4.44 EPS for the current fiscal year.

Kroger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were issued a $0.32 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.28 annualized dividend and a yield of 1.92%. Kroger’s dividend payout ratio is currently 33.86%.

Kroger announced that its board has approved a share repurchase program on Wednesday, December 11th that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the company to reacquire up to 16.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Kroger

In related news, SVP Stuart Aitken sold 132,627 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $63.18, for a total transaction of $8,379,373.86. Following the completion of the transaction, the senior vice president now owns 217,523 shares in the company, valued at approximately $13,743,103.14. The trade was a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Yael Cosset sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $58.39, for a total transaction of $1,167,800.00. Following the completion of the sale, the senior vice president now directly owns 144,620 shares of the company’s stock, valued at $8,444,361.80. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,559 shares of company stock worth $10,587,476. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

Several institutional investors and hedge funds have recently made changes to their positions in KR. Brown Brothers Harriman & Co. lifted its holdings in Kroger by 0.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 18,045 shares of the company’s stock worth $1,103,000 after acquiring an additional 154 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Kroger by 2.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,704 shares of the company’s stock worth $410,000 after purchasing an additional 159 shares during the period. HBK Sorce Advisory LLC lifted its holdings in shares of Kroger by 2.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,834 shares of the company’s stock valued at $479,000 after purchasing an additional 166 shares in the last quarter. Keybank National Association OH grew its position in shares of Kroger by 0.7% in the 4th quarter. Keybank National Association OH now owns 23,410 shares of the company’s stock valued at $1,432,000 after purchasing an additional 167 shares during the period. Finally, Valmark Advisers Inc. increased its stake in Kroger by 4.3% during the 4th quarter. Valmark Advisers Inc. now owns 4,260 shares of the company’s stock worth $260,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Company Profile

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.