JPMorgan Chase & Co. Issues Positive Forecast for Kroger (NYSE:KR) Stock Price

Kroger (NYSE:KR) had its target price upped by JPMorgan Chase & Co. from $59.00 to $69.00 in a report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and upped their target price for the company from $54.00 to $73.00 in a report on Tuesday. BNP Paribas assumed coverage on shares of Kroger in a research report on Friday, October 18th. They set a “neutral” rating and a $56.00 price target on the stock. StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. Telsey Advisory Group reiterated an “outperform” rating and issued a $65.00 target price on shares of Kroger in a report on Thursday. Finally, Melius Research started coverage on shares of Kroger in a research note on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target for the company. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kroger presently has an average rating of “Moderate Buy” and an average price target of $63.33.

Kroger Price Performance

Kroger stock opened at $59.24 on Friday. The company has a fifty day simple moving average of $57.75 and a 200-day simple moving average of $54.57. 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 market capitalization of $42.86 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.93 and a beta of 0.48. Kroger has a 52-week low of $43.51 and a 52-week high of $61.37.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $33.63 billion during the quarter, compared to the consensus estimate of $34.19 billion. Kroger had a net margin of 1.86% and a return on equity of 28.54%. Kroger’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities analysts anticipate that Kroger will post 4.45 EPS for the current fiscal year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, November 15th. Kroger’s dividend payout ratio (DPR) is 33.86%.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the sale, the senior vice president now owns 74,084 shares of the company’s stock, valued at approximately $4,142,036.44. This trade represents a 3.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now owns 47,593 shares of the company’s stock, valued at $2,644,743.01. This represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kroger

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC raised its position in Kroger by 31.7% in the 1st quarter. Cetera Advisors LLC now owns 22,146 shares of the company’s stock valued at $1,265,000 after purchasing an additional 5,330 shares during the last quarter. CWM LLC raised its position in Kroger by 24.0% in the second quarter. CWM LLC now owns 32,764 shares of the company’s stock worth $1,636,000 after acquiring an additional 6,338 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Kroger by 14.7% in the second quarter. Gateway Investment Advisers LLC now owns 16,048 shares of the company’s stock valued at $801,000 after acquiring an additional 2,058 shares during the period. JGP Wealth Management LLC purchased a new stake in Kroger during the second quarter worth about $204,000. Finally, Czech National Bank boosted its stake in shares of Kroger by 9.5% during the 2nd quarter. Czech National Bank now owns 127,558 shares of the company’s stock worth $6,369,000 after acquiring an additional 11,102 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.