Kroger Company, the Consumer Defensive sector company, was revisited by a Wall Street analyst yesterday. Analyst Robert Ohmes from Bank of America Securities maintained a Buy rating on the stock and has a $85.00 price target.
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Robert Ohmes has given his Buy rating due to a combination of factors that highlight Kroger Company’s strategic advancements and growth potential. Kroger’s implementation of RFID technology in bakery sections nationwide has significantly reduced display counting and refresh times, enhancing efficiency and reducing waste by allowing for more effective inventory management. This technological adoption is a promising sign of Kroger’s commitment to innovation and operational improvement.
Additionally, Kroger’s focus on customer loyalty through fresh produce and pharmacy services, alongside the expansion of its private label brand Simple Truth, positions the company well for sustained growth. The company’s ecommerce operations, particularly curbside pickup and delivery, have shown marked improvements, contributing positively to profitability. These initiatives, combined with the company’s strategic cost-saving measures and growth in alternative profit streams, support the long-term outlook and justify the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also upgraded the stock to a Buy with a $75.00 price target.
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KR in relation to earlier this year.