Kroger Company (The) (NYSE:KR) Stock Rating Upgraded by Vetr Inc.

Kroger Company (The) (NYSE:KR) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Friday. The brokerage presently has a $26.26 target price on the stock. Vetr‘s price target would indicate a potential upside of 14.82% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Loop Capital assumed coverage on shares of Kroger Company (The) in a research report on Monday, May 15th. They set a “hold” rating and a $32.00 price objective for the company. TheStreet cut shares of Kroger Company (The) from a “b” rating to a “c+” rating in a research report on Thursday, June 15th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Kroger Company (The) in a research report on Sunday, July 2nd. BMO Capital Markets set a $32.00 price objective on shares of Kroger Company (The) and gave the stock a “hold” rating in a research report on Saturday, June 10th. Finally, J P Morgan Chase & Co cut shares of Kroger Company (The) from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $24.00 in a research report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Kroger Company (The) currently has a consensus rating of “Hold” and a consensus price target of $30.51.

Shares of Kroger Company (NYSE:KR) opened at 22.87 on Friday. Kroger Company has a 12-month low of $20.46 and a 12-month high of $37.26. The company has a market capitalization of $20.52 billion, a P/E ratio of 13.77 and a beta of 0.76. The company’s 50 day moving average is $27.53 and its 200 day moving average is $30.69.

Kroger Company (The) (NYSE:KR) last issued its earnings results on Thursday, June 15th. The company reported $0.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.58. The business had revenue of $36.29 billion for the quarter, compared to the consensus estimate of $35.69 billion. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. Analysts expect that Kroger Company will post $1.98 earnings per share for the current fiscal year.

Kroger Company (The) announced that its board has authorized a stock buyback program on Thursday, June 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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In other Kroger Company (The) news, insider Michael Joseph Donnelly sold 22,400 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $30.00, for a total transaction of $672,000.00. Following the completion of the transaction, the insider now owns 254,008 shares of the company’s stock, valued at $7,620,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan M. Phillips sold 6,200 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $21.17, for a total value of $131,254.00. Following the transaction, the director now directly 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. Insiders have sold 66,339 shares of company stock valued at $1,935,920 in the last ninety days. 0.87% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Nova Scotia increased its position in shares of Kroger Company (The) by 906.4% in the first quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock valued at $6,247,000 after buying an additional 190,790 shares during the last quarter. Selway Asset Management acquired a new position in shares of Kroger Company (The) during the first quarter valued at approximately $492,000. Holderness Investments Co. acquired a new position in shares of Kroger Company (The) during the first quarter valued at approximately $277,000. Hosking Partners LLP increased its position in shares of Kroger Company (The) by 10.2% in the first quarter. Hosking Partners LLP now owns 528,328 shares of the company’s stock valued at $15,580,000 after buying an additional 48,785 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its position in shares of Kroger Company (The) by 0.3% in the fourth quarter. Vident Investment Advisory LLC now owns 42,464 shares of the company’s stock valued at $1,465,000 after buying an additional 113 shares during the last quarter. 77.84% of the stock is owned by hedge funds and other institutional investors.

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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