The Kroger Co. (NYSE: KR – Get Rating) – Research analysts at Jefferies Financial Group lowered their Q2 2023 EPS estimates for Kroger in a report released on Wednesday, May 11th. Jefferies Financial Group analyst M. Fishbein now expects that the company will earn $ 0.76 per share for the quarter, down from their prior forecast of $ 0.77. Jefferies Financial Group also issued estimates for Kroger’s Q3 2023 earnings at $ 0.81 EPS and FY2024 earnings at $ 3.79 EPS.
A number of other brokerages have also recently issued reports on KR. Bank of America raised shares of Kroger from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $ 61.00 to $ 75.00 in a research note on Friday, April 8th. Telsey Advisory Group upped their price objective on shares of Kroger from $ 62.00 to $ 64.00 and gave the stock an “outperform” rating in a research report on Thursday, April 7th. Evercore ISI upped their price target on shares of Kroger from $ 49.00 to $ 50.00 and gave the company an “inline” rating in a research note on Tuesday, March 1st. StockNews.com initiated coverage on shares of Kroger in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Finally, Wells Fargo & Company lowered shares of Kroger from an “equal weight” rating to an “underweight” rating and set a $ 42.00 target price on the stock. in a report on Tuesday, January 25th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $ 50.95.
Shares of KR stock traded down $ 0.10 during trading hours on Friday, reaching $ 54.12. The company had a trading volume of 19,412 shares, compared to its average volume of 5,749,028. The company has a 50 day moving average of $ 56.58 and a 200 day moving average of $ 48.87. The firm has a market cap of $ 39.02 billion, a price-to-earnings ratio of 24.87, a P / E / G ratio of 1.49 and a beta of 0.49. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.33. Kroger has a 1-year low of $ 35.91 and a 1-year high of $ 62.78. Kroger (NYSE: KR – Get Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported $ 0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $ 0.74 by $ 0.17. Kroger had a return on equity of 29.97% and a net margin of 1.20%. The business had revenue of $ 33.05 billion for the quarter, compared to the consensus estimate of $ 32.66 billion. During the same quarter in the previous year, the company posted $ 0.81 earnings per share. Kroger’s revenue for the quarter was up 7.5% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC raised its holdings in Kroger by 17.8% during the first quarter. Fieldpoint Private Securities LLC now owns 1,126 shares of the company’s stock worth $ 65,000 after purchasing an additional 170 shares in the last quarter. Pinnacle Financial Partners Inc. increased its stake in shares of Kroger by 4.2% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 4,772 shares of the company’s stock valued at $ 274,000 after acquiring an additional 194 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Kroger by 1.3% during the 1st quarter. Brighton Jones LLC now owns 15,717 shares of the company’s stock worth $ 902,000 after purchasing an additional 197 shares during the period. City Holding Co. grew its holdings in shares of Kroger by 19.7% during the 4th quarter. City Holding Co. now owns 1,215 shares of the company’s stock worth $ 57,000 after purchasing an additional 200 shares during the period. Finally, Diversified Trust Co boosted its holdings in Kroger by 2.9% in the 1st quarter. Diversified Trust Co now owns 7,151 shares of the company’s stock worth $ 410,000 after acquiring an additional 200 shares during the period. Institutional investors own 81.52% of the company’s stock.
In other news, CFO Gary Millerchip sold 44,976 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $ 56.28, for a total transaction of $ 2,531,249.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark C. Tuffin sold 77,544 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $ 61.84, for a total value of $ 4,795,320.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 432,968 shares of company stock worth $ 24,877,771. Corporate insiders own 1.35% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be given a $ 0.21 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $ 0.84 annualized dividend and a dividend yield of 1.55%. Kroger’s dividend payout ratio is currently 38.53%.
About Kroger (Get Rating)
The Kroger Co operates as a retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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