Kroger Company Gets a Hold Rating from Jefferies

By Carrie Williams

Jefferies analyst Christopher Mandeville reiterated a Hold rating on Kroger Company (NYSE: KR) yesterday and set a price target of $24. The company’s shares opened today at $21.87, close to its 52-week high of $36.44.

According to TipRanks.com, Mandeville is a 3-star analyst with an average return of 4.4% and a 52.5% success rate. Mandeville covers the Services sector, focusing on stocks such as Core-Mark Holding Company, Papa John’s International, and Walgreens Boots Alliance.

Currently, the analyst consensus on Kroger Company is Moderate Buy and the average price target is $26, representing a 18.9% upside.

In a report issued on August 15, BMO Capital also reiterated a Hold rating on the stock with a $24 price target.

Based on Kroger Company’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $36.29 billion and quarterly net profit of $301 million. In comparison, last year the company earned revenue of $26.57 billion and had a net profit of $380 million.

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The Kroger Co. engages in the operation of retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. It also manufactures and processes some of the food for sale in its supermarkets. The combination food and drug Stores are the primary food store format.