Kroger (NYSE:KR) Reaches New 52-Week High – What’s Next?

The Kroger Co. (NYSE:KR)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $59.60 and last traded at $59.59, with a volume of 210661 shares changing hands. The stock had previously closed at $57.39.

Wall Street Analyst Weigh In

Several research firms have commented on KR. BNP Paribas initiated coverage on Kroger in a research note on Friday, October 18th. They issued a “neutral” rating and a $56.00 target price on the stock. StockNews.com lowered Kroger from a “strong-buy” rating to a “buy” rating in a report on Monday, September 16th. Evercore ISI increased their price target on shares of Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Argus upped their price objective on Kroger from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Morgan Stanley lifted their price target on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.09.

Kroger Stock Up 1.0 %

The stock has a market capitalization of $43.34 billion, a PE ratio of 15.53, a P/E/G ratio of 0.87 and a beta of 0.48. The stock’s fifty day simple moving average is $55.52 and its 200-day simple moving average is $53.94. The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $33.91 billion during the quarter, compared to analyst estimates of $34.09 billion. Kroger had a net margin of 1.86% and a return on equity of 28.54%. Kroger’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. As a group, sell-side analysts forecast that The Kroger Co. will post 4.46 EPS for the current fiscal year.

Kroger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, November 15th. Kroger’s payout ratio is 33.51%.

Insider Buying and Selling

In related news, SVP Valerie L. Jabbar sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the transaction, the senior vice president now directly owns 74,084 shares in the company, valued at approximately $4,142,036.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the transaction, the senior vice president now directly owns 74,084 shares in the company, valued at approximately $4,142,036.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Carin L. Fike sold 3,010 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the sale, the vice president now directly owns 47,593 shares of the company’s stock, valued at $2,644,743.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,932 shares of company stock worth $721,243. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mendel Capital Management LLC grew its stake in Kroger by 0.6% in the third quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock worth $1,808,000 after purchasing an additional 181 shares during the period. Jaffetilchin Investment Partners LLC increased its holdings in shares of Kroger by 1.1% during the second quarter. Jaffetilchin Investment Partners LLC now owns 16,551 shares of the company’s stock valued at $826,000 after acquiring an additional 187 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Kroger by 2.8% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,922 shares of the company’s stock valued at $395,000 after buying an additional 190 shares during the last quarter. Csenge Advisory Group increased its holdings in shares of Kroger by 4.3% in the 1st quarter. Csenge Advisory Group now owns 4,610 shares of the company’s stock worth $263,000 after purchasing an additional 191 shares in the last quarter. Finally, Global Financial Private Client LLC raised its position in Kroger by 1.2% in the 1st quarter. Global Financial Private Client LLC now owns 17,112 shares of the company’s stock worth $975,000 after buying an additional 196 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

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.