JPMorgan Chase & Co. Raises Kroger (NYSE:KR) Price Target to $69.00

Kroger (NYSE:KR) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $59.00 to $69.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 16.50% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Evercore ISI boosted their price target on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Guggenheim boosted their target price on Kroger from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Melius Research began coverage on Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target for the company. BMO Capital Markets lowered Kroger from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, December 3rd. Finally, StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Kroger Price Performance

Shares of Kroger stock opened at $59.23 on Friday. The stock has a market capitalization of $42.85 billion, a P/E ratio of 15.67, a PEG ratio of 0.93 and a beta of 0.48. The business has a 50 day simple moving average of $57.81 and a two-hundred day simple moving average of $54.61. Kroger has a 12 month low of $43.51 and a 12 month high of $61.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.87 and a quick ratio of 0.46.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The firm had revenue of $33.63 billion during the quarter, compared to the consensus estimate of $34.19 billion. During the same period in the prior year, the company earned $0.95 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, analysts predict that Kroger will post 4.45 EPS for the current fiscal year.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the sale, the senior vice president now owns 74,084 shares of the company’s stock, valued at approximately $4,142,036.44. This represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now directly owns 47,593 shares in the company, valued at approximately $2,644,743.01. The trade was a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,932 shares of company stock valued at $721,243. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Kroger in the second quarter valued at $28,000. Northwest Investment Counselors LLC purchased a new stake in Kroger in the third quarter valued at $34,000. Newbridge Financial Services Group Inc. boosted its stake in Kroger by 218.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after acquiring an additional 490 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Kroger during the third quarter worth about $40,000. Finally, ORG Partners LLC acquired a new stake in shares of Kroger during the second quarter worth about $42,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.