Kroger (NYSE:KR) PT Raised to $72.00 at Argus

Kroger (NYSE:KR) had its target price lifted by Argus from $70.00 to $72.00 in a research note published on Monday morning, MarketBeat.com reports. Argus currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Kroger from $60.00 to $58.00 and set an overweight rating on the stock in a research report on Friday, June 21st. Morgan Stanley dropped their target price on shares of Kroger from $58.00 to $57.00 and set an equal weight rating on the stock in a research report on Monday, June 24th. Evercore ISI dropped their target price on shares of Kroger from $61.00 to $60.00 and set an outperform rating on the stock in a research report on Thursday, June 20th. Telsey Advisory Group reaffirmed an outperform rating and set a $62.00 target price on shares of Kroger in a research report on Monday, June 17th. Finally, StockNews.com raised shares of Kroger from a buy rating to a strong-buy rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $58.64.

Kroger Price Performance

Shares of KR opened at $53.30 on Monday. The firm has a market cap of $38.47 billion, a PE ratio of 18.19, a PEG ratio of 0.84 and a beta of 0.45. The firm’s 50 day moving average price is $52.07 and its 200 day moving average price is $51.87. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.45 and a current ratio of 0.86. Kroger has a twelve month low of $42.10 and a twelve month high of $58.34.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, June 20th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The company had revenue of $45.27 billion for the quarter, compared to analyst estimates of $44.86 billion. During the same quarter last year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that Kroger will post 4.45 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a $1.28 dividend. This represents a $5.12 annualized dividend and a dividend yield of 9.61%. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from Kroger’s previous quarterly dividend of $0.29. Kroger’s payout ratio is currently 39.59%.

Insider Activity

In other news, VP Brian W. Nichols sold 2,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $54.53, for a total value of $109,060.00. Following the sale, the vice president now owns 18,063 shares in the company, valued at approximately $984,975.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KR. Creekmur Asset Management LLC bought a new position in shares of Kroger in the fourth quarter valued at about $26,000. Valued Wealth Advisors LLC raised its holdings in shares of Kroger by 255.6% in the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after buying an additional 322 shares during the last quarter. SouthState Corp raised its holdings in Kroger by 334.3% during the 4th quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after purchasing an additional 458 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Kroger during the 4th quarter worth about $28,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Kroger by 101.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

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.