Kroger (NYSE:KR) Price Target Cut to $62.00

Kroger (NYSE:KR) had its price target cut by Evercore ISI from $63.00 to $62.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 12.20% from the company’s current price.

Other analysts have also issued research reports about the company. Telsey Advisory Group increased their price objective on Kroger from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Wells Fargo & Company upgraded Kroger from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $58.00 to $65.00 in a report on Tuesday. Guggenheim increased their price objective on Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, BNP Paribas reiterated an “underperform” rating and set a $48.00 price objective on shares of Kroger in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.17.

Kroger Stock Down 0.0 %

Kroger stock opened at $55.26 on Tuesday. The business has a fifty day moving average of $52.84 and a two-hundred day moving average of $47.69. The company has a quick ratio of 0.36, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $39.88 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.58 and a beta of 0.48. Kroger has a twelve month low of $42.10 and a twelve month high of $58.34.

Kroger (NYSE:KR) last posted its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.21. The company had revenue of $37.06 billion during the quarter, compared to analyst estimates of $37.07 billion. Kroger had a return on equity of 31.44% and a net margin of 1.44%. Kroger’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, analysts forecast that Kroger will post 4.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kroger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in Kroger during the 3rd quarter worth about $25,000. Creekmur Asset Management LLC acquired a new stake in Kroger during the 4th quarter worth about $26,000. Dagco Inc. acquired a new stake in Kroger during the 4th quarter worth about $26,000. SouthState Corp grew its position 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 period. Finally, VisionPoint Advisory Group LLC grew its position in Kroger by 370.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares during the period. 80.93% of the stock is 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.