Bank of America Reiterates Buy Rating for Kroger (KR)

Kroger (NYSE:KR)‘s stock had its “buy” rating restated by equities researchers at Bank of America in a note issued to investors on Friday, Marketbeat.com reports. They presently have a $37.00 price target on the stock, up from their previous price target of $35.00. Bank of America’s price objective would suggest a potential upside of 26.84% from the stock’s previous close.

Several other research analysts also recently weighed in on KR. Zacks Investment Research upgraded shares of Kroger from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, August 21st. Jefferies Financial Group upped their price target on shares of Kroger from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Credit Suisse Group set a $32.00 price target on shares of Kroger and gave the stock a “buy” rating in a research report on Friday, October 5th. Morgan Stanley reduced their price target on shares of Kroger from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, September 27th. Finally, Stephens set a $29.00 price target on shares of Kroger and gave the stock a “hold” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $31.67.

Shares of Kroger stock opened at $29.17 on Friday. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.08 and a beta of 0.79. Kroger has a fifty-two week low of $22.85 and a fifty-two week high of $32.74. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.73 and a quick ratio of 0.26.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, December 6th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $27.67 billion during the quarter, compared to the consensus estimate of $27.64 billion. Kroger had a net margin of 2.99% and a return on equity of 26.64%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, sell-side analysts predict that Kroger will post 2.11 earnings per share for the current year.

In other Kroger news, insider Erin S. Sharp sold 25,314 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $29.00, for a total value of $734,106.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mary Ellen Adcock sold 1,850 shares of the stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $31.21, for a total transaction of $57,738.50. Following the completion of the sale, the insider now owns 97,119 shares of the company’s stock, valued at approximately $3,031,083.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,425 shares of company stock valued at $1,480,298. 1.07% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Great Lakes Advisors LLC grew its stake in shares of Kroger by 0.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 102,351 shares of the company’s stock valued at $2,979,000 after buying an additional 629 shares during the period. First Mercantile Trust Co. grew its stake in shares of Kroger by 50.6% in the 3rd quarter. First Mercantile Trust Co. now owns 4,925 shares of the company’s stock valued at $143,000 after buying an additional 1,655 shares during the period. Madison Investment Holdings Inc. grew its stake in shares of Kroger by 6.3% in the 2nd quarter. Madison Investment Holdings Inc. now owns 29,726 shares of the company’s stock valued at $846,000 after buying an additional 1,758 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Kroger by 4.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 40,952 shares of the company’s stock valued at $1,165,000 after buying an additional 1,800 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Kroger by 2.0% in the 2nd quarter. CIBC Asset Management Inc now owns 94,607 shares of the company’s stock valued at $2,692,000 after buying an additional 1,837 shares during the period. 79.94% of the stock is owned by institutional investors and hedge funds.

About Kroger

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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Analyst Recommendations for Kroger (NYSE:KR)

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