Kroger (NYSE:KR) Sets New 1-Year High After Analyst Upgrade

Shares of The Kroger Co. (NYSE:KR) hit a new 52-week high during mid-day trading on Thursday after Telsey Advisory Group raised their price target on the stock from $60.00 to $62.00. Telsey Advisory Group currently has an outperform rating on the stock. Kroger traded as high as $57.36 and last traded at $57.19, with a volume of 512590 shares trading hands. The stock had previously closed at $56.90.

Several other brokerages have also issued reports on KR. Guggenheim raised their target price on Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Wells Fargo & Company raised Kroger from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $42.00 to $50.00 in a research report on Tuesday, February 27th. Stephens lowered their price objective on Kroger from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, December 1st. Evercore ISI lifted their price objective on Kroger from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price objective on Kroger from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, December 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.64.

Institutional Investors Weigh In On Kroger

A number of hedge funds have recently modified their holdings of the stock. HighPoint Advisor Group LLC bought a new stake in Kroger during the 4th quarter valued at $627,000. Grayhawk Investment Strategies Inc. bought a new stake in Kroger during the 4th quarter valued at $682,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Kroger during the 4th quarter valued at $4,022,000. ICA Group Wealth Management LLC purchased a new position in shares of Kroger during the 4th quarter valued at $86,000. Finally, Fisher Asset Management LLC grew its position in shares of Kroger by 38.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,785 shares of the company’s stock valued at $584,000 after purchasing an additional 3,545 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Kroger Price Performance

The business’s 50-day moving average price is $49.53 and its 200 day moving average price is $46.48. The stock has a market capitalization of $41.11 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.63 and a beta of 0.46. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.36 and a current ratio of 0.81.

Kroger (NYSE:KR) last announced its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.21. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The company had revenue of $37.06 billion during the quarter, compared to analyst estimates of $37.07 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Tuesday, May 14th. Kroger’s dividend payout ratio (DPR) is 39.19%.

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.