Kroger Company (KR) Received its Third Buy in a Row

After Merrill Lynch and Jefferies gave Kroger Company (NYSE: KR) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Edward Kelly maintained a Buy rating on Kroger Company today. The company’s shares closed yesterday at $28.48.

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 6.3% and a 65.4% success rate. Kelly covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Performance Food Group, and United Natural Foods.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kroger Company with a $32.82 average price target.

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Based on Kroger Company’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $27.67 billion and net profit of $313 million. In comparison, last year the company earned revenue of $27.75 billion and had a net profit of $393 million.

Based on the recent corporate insider activity of 115 insiders, corporate insider sentiment is negative on the stock.

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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.