Monthly Stock Report: Kroger Company (KR)
Publication Date: September 22, 2024
Company Overview
Kroger Company (KR), headquartered in Cincinnati, Ohio, is a leading grocery and drug retailer that has been serving customers since 1883. The company operates a diverse array of store formats, including food and drug combinations, multi-department locations, marketplace outlets, and price impact warehouses. Kroger is known for its extensive selection of products, including natural and organic foods, general merchandise, and fresh produce, as well as its in-house food manufacturing. As a vital entity within the Consumer Defensive sector, Kroger provides a dependable source for everyday essentials.
Stock Performance and Market Outlook
With a current stock price of $55.39, Kroger’s shares are positioned for potential growth. Analysts have set a target high price of $70.00, suggesting significant upside opportunity. The target mean price is established at $58.81, reflecting an optimistic outlook for the stock’s performance. The broad grocery store industry’s total revenue reached approximately $150.2 billion, underscoring strong market demand and a solid foundation for investment.
Kroger has 723 million shares outstanding, with about 14.07 million shares shorted, indicating a short interest of approximately 2.22% of the company’s float of 741.12 million shares. This relatively low short interest hints at investor confidence despite some skepticism. The consensus from analysts is robust, with a mean rating of 2.3 from 17 reviews, reinforcing a buy recommendation. The asset’s current market position is favorable, constrained between a fifty-two week high of $58.34 and a low of $42.10, alongside a fifty-day moving average of $53.644. This technical positioning may signify healthy momentum and investor interest.
Financial Insights
Despite Kroger’s strong revenue report of approximately $150.2 billion, the lack of disclosed EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) presents a gap in assessing operational efficiency and profitability. Nevertheless, the overall financial indicators paint a positive picture for potential investors. The company’s recent performance metrics underline resilience within the marketplace, and the positive analyst sentiment positions Kroger as a compelling option in the retail grocery sector.
In summary, with favorable stock performance and a strong market outlook, Kroger Company represents a promising investment opportunity in the Consumer Defensive sector, fostering optimism among financial analysts and investors alike.
| Metric | Value |
|---|---|
| Market Cap | $40.1b |
| Total Debt | $21.2b |
| Total Cash | $2.3b |
| Shares Outstanding | 723.0m |
| Float Shares | 741.1m |
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