Kroger (NYSE:KR) Upgraded to “Overweight” at Wells Fargo & Company

Kroger (NYSE:KR) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, Briefing.com reports. The firm presently has a $65.00 price target on the stock, up from their previous price target of $58.00. Wells Fargo & Company‘s target price would suggest a potential upside of 17.45% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Guggenheim increased their price target on shares of Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Evercore ISI increased their price target on shares of Kroger from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. BNP Paribas reissued an “underperform” rating and set a $48.00 price target on shares of Kroger in a research report on Monday, April 8th. Finally, Telsey Advisory Group upped their target price on shares of Kroger from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.33.

Kroger Price Performance

Kroger stock opened at $55.35 on Tuesday. The company has a fifty day simple moving average of $52.43 and a 200-day simple moving average of $47.56. The company has a quick ratio of 0.36, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $39.94 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.57 and a beta of 0.48. Kroger has a 52-week low of $42.10 and a 52-week high of $58.34.

Kroger (NYSE:KR) last posted its earnings results on Thursday, March 7th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $37.07 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. Kroger’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Kroger will post 4.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Kroger

Institutional investors have recently modified their holdings of the business. OFI Invest Asset Management purchased a new position in Kroger in the 3rd quarter valued at $25,000. Creekmur Asset Management LLC purchased a new position in Kroger in the 4th quarter valued at $26,000. Dagco Inc. purchased a new position in Kroger in the 4th quarter valued at $26,000. SouthState Corp boosted its position in shares of Kroger by 334.3% during the 4th quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after purchasing an additional 458 shares in the last quarter. Finally, VisionPoint Advisory Group LLC boosted its position in shares of Kroger by 370.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.