Kroger (NYSE:KR) Rating Increased to Buy at Wall Street Zen

Kroger (NYSE:KR) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities research analysts also recently weighed in on KR. Guggenheim raised their target price on Kroger from $71.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, April 3rd. Roth Capital set a $58.00 price objective on Kroger in a report on Thursday, March 6th. Morgan Stanley raised their price objective on Kroger from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Melius Research raised Kroger from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 20th. Finally, Melius raised Kroger from a “sell” rating to a “hold” rating and set a $70.00 price objective on the stock in a report on Tuesday, May 20th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.11.

Kroger Trading Up 9.7%

Shares of KR stock opened at $71.85 on Friday. The stock’s fifty day moving average price is $68.89 and its two-hundred day moving average price is $65.20. The company has a market cap of $47.48 billion, a PE ratio of 19.58, a P/E/G ratio of 1.96 and a beta of 0.58. Kroger has a fifty-two week low of $49.04 and a fifty-two week high of $73.63. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.52 and a current ratio of 0.96.

Kroger (NYSE:KR) last issued its earnings results on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $45.12 billion for the quarter, compared to the consensus estimate of $45.35 billion. Kroger had a return on equity of 28.17% and a net margin of 1.81%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. Equities analysts predict that Kroger will post 4.44 EPS for the current fiscal year.

Insider Buying and Selling at Kroger

In other news, SVP Valerie L. Jabbar sold 31,271 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $69.08, for a total value of $2,160,200.68. Following the transaction, the senior vice president now owns 82,684 shares in the company, valued at $5,711,810.72. The trade was a 27.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Carin L. Fike sold 5,541 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $70.79, for a total value of $392,247.39. Following the completion of the transaction, the vice president now owns 3,480 shares in the company, valued at $246,349.20. The trade was a 61.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,679 shares of company stock valued at $7,865,706. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Kroger

A number of hedge funds and other institutional investors have recently modified their holdings of KR. Brighton Jones LLC boosted its stake in shares of Kroger by 27.3% in the 4th quarter. Brighton Jones LLC now owns 15,733 shares of the company’s stock worth $962,000 after buying an additional 3,373 shares during the last quarter. Principal Securities Inc. lifted its stake in Kroger by 20.9% in the fourth quarter. Principal Securities Inc. now owns 7,415 shares of the company’s stock valued at $453,000 after purchasing an additional 1,280 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Kroger by 1.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 18,691 shares of the company’s stock valued at $1,143,000 after purchasing an additional 257 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Kroger in the fourth quarter valued at approximately $44,000. Finally, Private Advisor Group LLC lifted its stake in Kroger by 13.1% in the fourth quarter. Private Advisor Group LLC now owns 20,296 shares of the company’s stock valued at $1,241,000 after purchasing an additional 2,345 shares during the last quarter. 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.