Kroger Company (The) (KR) Given New $20.00 Price Target at BMO Capital Markets

Kroger Company (The) (NYSE:KR) had its target price decreased by BMO Capital Markets from $24.00 to $20.00 in a research note published on Monday morning. BMO Capital Markets currently has a market perform rating on the stock.

KR has been the topic of several other reports. Royal Bank Of Canada set a $34.00 target price on Kroger Company (The) and gave the stock a buy rating in a research report on Monday, August 28th. Zacks Investment Research downgraded Kroger Company (The) from a hold rating to a sell rating in a research report on Tuesday, August 29th. Oppenheimer Holdings, Inc. downgraded Kroger Company (The) to a market perform rating and reduced their target price for the stock from $28.00 to $23.00 in a research report on Friday. Jefferies Group LLC reiterated a hold rating on shares of Kroger Company (The) in a research report on Friday, August 25th. Finally, Deutsche Bank AG set a $26.00 target price on Kroger Company (The) and gave the stock a buy rating in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $28.58.

Shares of Kroger Company (NYSE:KR) traded up 1.41% during mid-day trading on Monday, hitting $21.64. The company had a trading volume of 3,707,294 shares. Kroger Company has a 12 month low of $20.41 and a 12 month high of $36.44. The firm has a 50-day moving average of $23.12 and a 200-day moving average of $26.76. The company has a market cap of $19.42 billion, a PE ratio of 13.03 and a beta of 0.79.

Kroger Company (The) (NYSE:KR) last released its earnings results on Friday, September 8th. The company reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. The firm had revenue of $27.60 billion for the quarter, compared to the consensus estimate of $27.48 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that Kroger Company will post $1.97 EPS for the current year.

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Kroger Company (The) announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, August 11th. This is a positive change from Kroger Company (The)’s previous quarterly dividend of $0.12. Kroger Company (The)’s dividend payout ratio (DPR) is 30.30%.

In other Kroger Company (The) news, insider J Michael Schlotman acquired 2,000 shares of the stock in a transaction on Monday, June 26th. The stock was purchased at an average price of $22.73 per share, for a total transaction of $45,460.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan M. Phillips sold 6,200 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the sale, the director now owns 124,105 shares of the company’s stock, valued at approximately $2,627,302.85. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of KR. Dupont Capital Management Corp acquired a new position in shares of Kroger Company (The) in the 2nd quarter worth approximately $105,000. Advantage Investment Management LLC grew its position in shares of Kroger Company (The) by 15.8% in the 1st quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock worth $109,000 after acquiring an additional 502 shares in the last quarter. Cedar Wealth Management LLC grew its position in shares of Kroger Company (The) by 155.9% in the 2nd quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock worth $116,000 after acquiring an additional 3,040 shares in the last quarter. CWM LLC grew its position in shares of Kroger Company (The) by 1,162.2% in the 2nd quarter. CWM LLC now owns 5,213 shares of the company’s stock worth $122,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of Kroger Company (The) by 9.3% in the 2nd quarter. Grove Bank & Trust now owns 5,287 shares of the company’s stock worth $124,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 74.63% of the company’s stock.

About Kroger Company (The)

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

Analyst Recommendations for Kroger Company (The) (NYSE:KR)




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