Why Kroger Stock Is Trading Lower Today

The Kroger Co KR shares are trading lower after Goldman Sachs downgraded the stock from Neutral to Sell and lowered its price target from $37 to $31.

Kroger is the leading American grocer, with 2,742 supermarkets operating under several banners throughout the country as of the end of fiscal 2020. Around 82% of stores have pharmacies, while over half also sell fuel.

The stock was trading 4% lower at $35.88 per share at the time of writing. The stock has a 52-week high of $42.99 and a 52-week low of $30.35.