Brokerages Set The Kroger Co. (NYSE:KR) PT at $66.88

Shares of The Kroger Co. (NYSE:KR) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $66.88.

Several research firms have commented on KR. StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 price objective on shares of Kroger in a research note on Tuesday, February 4th. BMO Capital Markets upped their target price on Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, December 12th. Guggenheim lifted their price target on Kroger from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Citigroup upped their price objective on Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, March 7th.

Insider Buying and Selling

In other news, VP Brian W. Nichols sold 1,300 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $66.71, for a total value of $86,723.00. Following the transaction, the vice president now owns 12,090 shares in the company, valued at $806,523.90. This represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Yael Cosset sold 115,149 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $68.08, for a total transaction of $7,839,343.92. Following the sale, the senior vice president now owns 139,338 shares of the company’s stock, valued at approximately $9,486,131.04. This represents a 45.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,244 shares of company stock valued at $14,282,348. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

A number of hedge funds have recently modified their holdings of KR. 111 Capital purchased a new position in Kroger in the fourth quarter valued at about $591,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kroger by 76.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 282,941 shares of the company’s stock valued at $17,302,000 after buying an additional 122,680 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in Kroger by 2.0% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 22,521 shares of the company’s stock worth $1,377,000 after buying an additional 432 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in Kroger during the fourth quarter valued at approximately $62,000. Finally, Comprehensive Money Management Services LLC acquired a new position in Kroger during the fourth quarter worth $320,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Kroger Stock Performance

Shares of NYSE KR opened at $65.38 on Friday. Kroger has a 12-month low of $49.04 and a 12-month high of $68.51. The company has a market cap of $47.31 billion, a PE ratio of 17.30, a P/E/G ratio of 2.85 and a beta of 0.51. The stock has a 50 day simple moving average of $63.37 and a 200-day simple moving average of $59.95. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last announced its quarterly 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 company had revenue of $34.31 billion during the quarter, compared to analyst estimates of $34.96 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. On average, equities research analysts forecast that Kroger will post 4.44 EPS for the current year.

Kroger announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the company to reacquire up to 16.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, May 15th. Kroger’s dividend payout ratio (DPR) is currently 34.88%.

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.