Kroger (NYSE:KR) Hits New 12-Month High Following Analyst Upgrade

The Kroger Co. (NYSE:KR) reached a new 52-week high during trading on Thursday after Telsey Advisory Group raised their price target on the stock from $60.00 to $62.00. Telsey Advisory Group currently has an outperform rating on the stock. Kroger traded as high as $57.36 and last traded at $57.19, with a volume of 512590 shares changing hands. The stock had previously closed at $56.90.

A number of other research analysts also recently commented on the stock. Morgan Stanley cut their target price on shares of Kroger from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, December 1st. Guggenheim lifted their price objective on shares of Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Stephens cut their price objective on shares of Kroger from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, December 1st. Wells Fargo & Company raised shares of Kroger from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $42.00 to $50.00 in a research report on Tuesday, February 27th. Finally, Evercore ISI lifted their price objective on shares of Kroger from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.64.

Institutional Trading of Kroger

A number of institutional investors have recently bought and sold shares of KR. Synovus Financial Corp lifted its stake in Kroger by 6.3% during the 1st quarter. Synovus Financial Corp now owns 12,869 shares of the company’s stock valued at $739,000 after acquiring an additional 764 shares during the period. Cibc World Market Inc. lifted its stake in Kroger by 30.2% during the 1st quarter. Cibc World Market Inc. now owns 29,150 shares of the company’s stock valued at $1,672,000 after acquiring an additional 6,764 shares during the period. Blair William & Co. IL lifted its stake in Kroger by 7.1% during the 1st quarter. Blair William & Co. IL now owns 14,673 shares of the company’s stock valued at $842,000 after acquiring an additional 974 shares during the period. Prudential PLC acquired a new position in shares of Kroger in the 1st quarter valued at $1,443,000. Finally, Moors & Cabot Inc. lifted its stake in shares of Kroger by 3.6% in the 1st quarter. Moors & Cabot Inc. now owns 7,703 shares of the company’s stock valued at $442,000 after purchasing an additional 269 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Kroger Stock Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.36 and a current ratio of 0.81. The firm’s 50 day moving average is $49.74 and its 200-day moving average is $46.55. The stock has a market capitalization of $41.09 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.63 and a beta of 0.46.

Kroger (NYSE:KR) last posted its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.21. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The firm had revenue of $37.06 billion during the quarter, compared to analysts’ expectations of $37.07 billion. During the same period in the previous year, the business posted $0.99 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. Analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.03%. The ex-dividend date is Tuesday, May 14th. Kroger’s payout ratio is presently 39.19%.

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.