Kroger (NYSE:KR) Hits New 12-Month High at $58.34

The Kroger Co. (NYSE:KRGet Free Report)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $58.34 and last traded at $57.93, with a volume of 330497 shares changing hands. The stock had previously closed at $57.82.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Guggenheim boosted their target price on shares of Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Wells Fargo & Company upgraded shares of Kroger from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $42.00 to $50.00 in a research report on Tuesday, February 27th. Telsey Advisory Group upped their price objective on shares of Kroger from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Evercore ISI upped their price objective 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.64.

View Our Latest Stock Report on Kroger

Kroger Stock Down 0.5 %

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.36 and a current ratio of 0.81. The stock has a market capitalization of $41.38 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.65 and a beta of 0.48. The stock’s fifty day simple moving average is $50.40 and its two-hundred day simple moving average is $46.80.

Kroger (NYSE:KRGet Free Report) last posted its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, topping 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 firm had revenue of $37.06 billion for the quarter, compared to analyst estimates of $37.07 billion. During the same period in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts expect that The Kroger Co. will post 4.44 EPS for the current fiscal 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, May 14th. Kroger’s dividend payout ratio is currently 39.19%.

Institutional Investors Weigh In On Kroger

Institutional investors have recently modified their holdings of the company. Dagco Inc. bought a new stake in shares of Kroger in the 4th quarter valued at $26,000. KB Financial Partners LLC bought a new stake in shares of Kroger in the 1st quarter valued at $28,000. Creekmur Asset Management LLC bought a new position in Kroger during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new position in Kroger during the third quarter worth $25,000. Finally, SouthState Corp boosted its stake in Kroger by 334.3% during the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after acquiring an additional 458 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

About Kroger

(Get Free Report)

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.

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