Fintel reports that on September 11, 2023, Telsey Advisory Group reiterated coverage of Kroger (NYSE:KR) with a Outperform recommendation.
Analyst Price Forecast Suggests 9.95% Upside
As of August 31, 2023, the average one-year price target for Kroger is 51.61. The forecasts range from a low of 36.36 to a high of $68.25. The average price target represents an increase of 9.95% from its latest reported closing price of 46.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kroger is 156,318MM, an increase of 5.59%. The projected annual non-GAAP EPS is 4.35.
Kroger Declares $0.29 Dividend
On June 22, 2023 the company declared a regular quarterly dividend of $0.29 per share ($1.16 annualized). Shareholders of record as of August 15, 2023 received the payment on September 1, 2023. Previously, the company paid $0.26 per share.
At the current share price of $46.94 / share, the stock's dividend yield is 2.47%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.11%, the lowest has been 1.38%, and the highest has been 3.07%. The standard deviation of yields is 0.28 (n=235).
The current dividend yield is 1.29 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.51. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.61%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1918 funds or institutions reporting positions in Kroger. This is a decrease of 57 owner(s) or 2.89% in the last quarter. Average portfolio weight of all funds dedicated to KR is 0.30%, a decrease of 2.38%. Total shares owned by institutions increased in the last three months by 1.23% to 616,618K shares. 
The put/call ratio of KR is 0.81, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 50,000K shares representing 6.97% ownership of the company. No change in the last quarter.
Sanders Capital holds 22,164K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 12,608K shares, representing an increase of 43.11%. The firm increased its portfolio allocation in KR by 47.57% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 20,096K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 19,937K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in KR by 11.47% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 14,967K shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 15,047K shares, representing a decrease of 0.54%. The firm decreased its portfolio allocation in KR by 9.10% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 14,549K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 14,200K shares, representing an increase of 2.40%. The firm decreased its portfolio allocation in KR by 11.65% over the last quarter.
Kroger Background Information
(This description is provided by the company.)
The Kroger Co. is Fresh for Everyone™ and dedicated to its Purpose: To Feed the Human Spirit®. it is, across its family of companies, nearly half a million associates who serve over 60 million customers through a seamless shopping experience under a variety of banner names. It is committed to creating #ZeroHungerZeroWaste communities by 2025.
Additional reading:
- Kroger Reports Second Quarter 2023 Results and Reaffirms Guidance
- Kroger Reaches Agreement in Principle for Nationwide Opioid Settlement
- Kroger and Albertsons Companies Announce Comprehensive Divestiture Plan with C&S Wholesale Grocers, LLC in Connection with Proposed Merger Plan Marks Key Step in Merger Process Both the Kroger and Albertsons Cos. Combination and the Divestiture Sale
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
