JPMorgan Chase & Co. Increases Kroger (NYSE:KR) Price Target to $34.00

Kroger (NYSE:KR) had its price objective raised by JPMorgan Chase & Co. from $33.00 to $34.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.04% from the company’s current price.

Several other research analysts also recently weighed in on KR. ValuEngine downgraded shares of Kroger from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Cfra upped their price objective on shares of Kroger from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Oppenheimer assumed coverage on shares of Kroger in a research note on Thursday, March 5th. They set a “hold” rating and a $34.00 price objective for the company. UBS Group upped their price objective on shares of Kroger from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, March 9th. Finally, Citigroup cut shares of Kroger from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Kroger currently has an average rating of “Hold” and a consensus price target of $32.86.

Shares of Kroger stock traded up $0.25 during trading hours on Thursday, reaching $32.37. The stock had a trading volume of 6,131,932 shares, compared to its average volume of 9,557,584. The stock’s 50 day moving average is $32.26 and its 200 day moving average is $29.50. The firm has a market capitalization of $25.25 billion, a PE ratio of 15.87, a PEG ratio of 2.67 and a beta of 0.37. Kroger has a twelve month low of $20.70 and a twelve month high of $36.84. The company has a current ratio of 0.76, a quick ratio of 0.27 and a debt-to-equity ratio of 2.17.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The business had revenue of $28.89 billion during the quarter, compared to the consensus estimate of $28.88 billion. Kroger had a net margin of 1.36% and a return on equity of 20.72%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, sell-side analysts predict that Kroger will post 2.47 earnings per share for the current year.

In related news, VP Carin L. Fike sold 3,300 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $30.76, for a total transaction of $101,508.00. Following the completion of the transaction, the vice president now owns 33,830 shares of the company’s stock, valued at approximately $1,040,610.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy A. Massa sold 8,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $31.37, for a total transaction of $250,960.00. Following the transaction, the senior vice president now directly owns 152,917 shares of the company’s stock, valued at approximately $4,797,006.29. The disclosure for this sale can be found here. In the last three months, insiders sold 19,100 shares of company stock valued at $615,796. Corporate insiders own 1.34% of the company’s stock.

Large investors have recently bought and sold shares of the stock. First Command Bank purchased a new position in shares of Kroger during the 1st quarter worth approximately $27,000. Synovus Financial Corp lifted its holdings in Kroger by 565.8% during the 1st quarter. Synovus Financial Corp now owns 1,012 shares of the company’s stock worth $30,000 after buying an additional 860 shares in the last quarter. Optimum Investment Advisors acquired a new stake in Kroger during the 1st quarter worth approximately $32,000. Atlas Private Wealth Management lifted its holdings in Kroger by 685.7% during the 1st quarter. Atlas Private Wealth Management now owns 1,100 shares of the company’s stock worth $33,000 after buying an additional 960 shares in the last quarter. Finally, PrairieView Partners LLC acquired a new stake in Kroger during the 1st quarter worth approximately $33,000. 81.19% of the stock is owned by hedge funds and other institutional investors.

Kroger Company Profile

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.

Read More: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Kroger (NYSE:KR)

Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.