Stephens & Co. Maintains Equal-Weight Rating for Kroger: Here's What You Need To Know

Stephens & Co. has decided to maintain its Equal-Weight rating of Kroger KR and lower its price target from $52.00 to $50.00.

Shares of Kroger are trading down 0.15% over the last 24 hours, at $44.20 per share.

A move to $50.00 would account for a 13.11% increase from the current share price.

About Kroger

Kroger is the leading American grocer, with 2,719 supermarkets operating under several banners throughout the country at the end of fiscal 2022. Around 83% of stores have pharmacies, while nearly 60% also sell fuel. The company also operates roughly 120 fine jewelry stores. Kroger features a leading private-label offering and manufactures around 30% of its own-brand units (and more than 40% of its grocery own-label assortment) itself in 33 food production plants nationwide. Kroger is a top-two grocer in most of its major markets (as of early 2021, according to company data). Virtually all of Kroger's sales come from the United States. Kroger has offered to acquire no-moat Albertsons in a $25 billion deal; if the transaction is approved by regulators, it should close in 2024.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.