Analysts Set The Kroger Co. (NYSE:KR) Price Target at $65.80

Shares of The Kroger Co. (NYSE:KR - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $65.80.

Several research firms have issued reports on KR. Wells Fargo & Company upped their price target on shares of Kroger from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. Roth Mkm increased their target price on Kroger from $52.00 to $56.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Jefferies Financial Group upgraded Kroger from a "hold" rating to a "buy" rating and raised their price target for the stock from $54.00 to $73.00 in a research report on Tuesday, December 3rd. Bank of America boosted their price objective on Kroger from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Finally, StockNews.com cut shares of Kroger from a "strong-buy" rating to a "buy" rating in a report on Tuesday, January 14th.

Insider Transactions at Kroger

In other Kroger news, SVP Yael Cosset sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $58.39, for a total transaction of $1,167,800.00. Following the completion of the transaction, the senior vice president now owns 144,620 shares of the company's stock, valued at approximately $8,444,361.80. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stuart Aitken sold 132,627 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $63.18, for a total value of $8,379,373.86. Following the completion of the sale, the senior vice president now directly owns 217,523 shares in the company, valued at approximately $13,743,103.14. This represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,448 shares of company stock valued at $12,143,923. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Kroger

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Sector Pension Investment Board raised its holdings in Kroger by 95.2% in the second quarter. Public Sector Pension Investment Board now owns 23,567 shares of the company's stock worth $1,177,000 after buying an additional 11,491 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Kroger by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 401,174 shares of the company's stock worth $20,031,000 after acquiring an additional 6,585 shares during the last quarter. Quarry LP lifted its position in Kroger by 92.0% in the 2nd quarter. Quarry LP now owns 2,267 shares of the company's stock valued at $113,000 after acquiring an additional 1,086 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Kroger by 8.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 12,305 shares of the company's stock valued at $614,000 after purchasing an additional 941 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Kroger by 2.0% in the 2nd quarter. Cetera Investment Advisers now owns 125,766 shares of the company's stock worth $6,279,000 after purchasing an additional 2,469 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Kroger Price Performance

Shares of NYSE KR traded down $0.03 during trading hours on Thursday, reaching $61.03. 3,699,256 shares of the stock traded hands, compared to its average volume of 5,192,652. The company's 50-day simple moving average is $60.33 and its two-hundred day simple moving average is $56.99. The company has a market capitalization of $44.16 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 2.76 and a beta of 0.48. Kroger has a 52-week low of $44.48 and a 52-week high of $63.59. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The firm had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same period last year, the firm posted $0.95 earnings per share. The business's revenue was down 1.0% compared to the same quarter last year. Equities research analysts forecast that Kroger will post 4.44 EPS for the current year.

Kroger declared that its board has authorized a share repurchase program on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 16.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

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.