Kroger (NYSE:KR) Price Target Cut to $47.00

Financial News Live · Dec 9, 2022 17:42

Kroger (NYSE:KR – Get Rating) had its price target reduced by MKM Partners from $50.00 to $47.00 in a research note issued to investors on Monday morning, The Fly reports. MKM Partners currently has a neutral rating on the stock.

KR has been the subject of a number of other reports. Evercore ISI upgraded Kroger from an in-line rating to an outperform rating and increased their price target for the stock from $49.00 to $56.00 in a report on Wednesday, November 9th. UBS Group decreased their price target on shares of Kroger from $57.00 to $54.00 and set a neutral rating for the company in a research note on Friday, December 2nd. Credit Suisse Group reduced their price target on shares of Kroger from $60.00 to $55.00 and set a neutral rating for the company in a research report on Thursday, September 8th. Exane BNP Paribas raised shares of Kroger from a neutral rating to an outperform rating in a report on Monday, October 10th. Finally, BNP Paribas raised shares of Kroger from a neutral rating to an outperform rating and set a $51.00 price target for the company in a research note on Monday, October 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $53.39.

Get Kroger alerts:

Kroger Stock Performance

KR stock opened at $47.46 on Monday. The firm has a market cap of $33.97 billion, a PE ratio of 14.83, a P/E/G ratio of 1.83 and a beta of 0.49. The business's 50-day moving average price is $46.21 and its two-hundred day moving average price is $47.64. Kroger has a 1-year low of $41.81 and a 1-year high of $62.78. The company has a current ratio of 0.76, a quick ratio of 0.27 and a debt-to-equity ratio of 1.25.

Kroger (NYSE:KR – Get Rating) last posted its earnings results on Thursday, December 1st. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.92 billion. Kroger had a return on equity of 31.92% and a net margin of 1.61%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. As a group, research analysts forecast that Kroger will post 4.14 earnings per share for the current year.

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.04 annualized dividend and a yield of 2.19%. Kroger's dividend payout ratio (DPR) is 32.50%.

Insider Buying and Selling at Kroger

In other Kroger news, VP Carin L. Fike sold 5,779 shares of the business's stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $47.72, for a total value of $275,773.88. Following the completion of the sale, the vice president now directly owns 5,320 shares of the company's stock, valued at approximately $253,870.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kroger

Hedge funds have recently modified their holdings of the business. McClarren Financial Advisors Inc. purchased a new stake in shares of Kroger in the 3rd quarter worth approximately $27,000. Core Alternative Capital lifted its position in shares of Kroger by 176.2% in the 2nd quarter. Core Alternative Capital now owns 660 shares of the company's stock worth $31,000 after purchasing an additional 421 shares during the period. Newbridge Financial Services Group Inc. raised its stake in shares of Kroger by 42.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 730 shares of the company's stock worth $35,000 after acquiring an additional 219 shares in the last quarter. Key Financial Inc raised its stake in shares of Kroger by 66.3% during the 2nd quarter. Key Financial Inc now owns 740 shares of the company's stock worth $36,000 after acquiring an additional 295 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of Kroger during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Kroger Company Profile

(Get Rating)

The Kroger Co operates as a 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.