Kroger (NYSE:KR) has been assigned a $30.00 price objective by analysts at Credit Suisse Group in a report released on Thursday. The firm presently has a “buy” rating on the stock. Credit Suisse Group’s price objective indicates a potential upside of 20.10% from the stock’s previous close.
Several other research firms have also recently commented on KR. BMO Capital Markets set a $31.00 price objective on shares of Kroger and gave the company a “hold” rating in a research report on Friday, March 2nd. Moffett Nathanson cut shares of Kroger from a “buy” rating to a “neutral” rating in a research report on Friday, May 11th. Morgan Stanley set a $27.00 price objective on shares of Kroger and gave the company a “hold” rating in a research report on Monday, March 12th. TheStreet cut shares of Kroger from a “b” rating to a “c+” rating in a research report on Monday, March 5th. Finally, ValuEngine cut shares of Kroger from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.48.
Shares of Kroger traded down $0.32, hitting $24.98, on Thursday, MarketBeat Ratings reports. The stock had a trading volume of 14,360 shares, compared to its average volume of 10,228,522. Kroger has a twelve month low of $24.71 and a twelve month high of $25.03. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The company has a quick ratio of 0.32, a current ratio of 0.78 and a debt-to-equity ratio of 1.74.
Kroger declared that its Board of Directors has initiated a share buyback program on Thursday, March 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other Kroger news, VP Todd A. Foley sold 3,800 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $24.43, for a total transaction of $92,834.00. Following the transaction, the vice president now owns 31,273 shares in the company, valued at approximately $763,999.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.85% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Gables Capital Management Inc. bought a new position in Kroger in the 1st quarter valued at approximately $197,000. Foundry Partners LLC bought a new position in Kroger in the 1st quarter valued at approximately $9,215,000. Canyon Capital Advisors LLC lifted its stake in Kroger by 29.3% in the 1st quarter. Canyon Capital Advisors LLC now owns 2,888,900 shares of the company’s stock valued at $69,160,000 after purchasing an additional 655,419 shares during the last quarter. First Commonwealth Financial Corp PA lifted its stake in Kroger by 42.0% in the 1st quarter. First Commonwealth Financial Corp PA now owns 35,710 shares of the company’s stock valued at $855,000 after purchasing an additional 10,568 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Kroger by 5.4% in the 1st quarter. Guggenheim Capital LLC now owns 2,746,473 shares of the company’s stock valued at $65,749,000 after purchasing an additional 141,087 shares during the last quarter. 79.47% of the stock is owned by institutional investors.
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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