Kroger Co (NYSE:KR) – Jefferies Group increased their Q1 2019 earnings per share estimates for Kroger in a report released on Monday. Jefferies Group analyst C. Mandeville now anticipates that the company will post earnings per share of $0.57 for the quarter, up from their prior estimate of $0.54. Jefferies Group currently has a “Buy” rating and a $31.00 target price on the stock. Jefferies Group also issued estimates for Kroger’s Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.60 EPS, FY2019 earnings at $2.09 EPS and FY2020 earnings at $2.29 EPS.
Other equities research analysts have also issued reports about the company. Stephens set a $22.00 price target on Kroger and gave the stock a “hold” rating in a research report on Friday, March 9th. Pivotal Research restated a “buy” rating and set a $28.00 price target (down from $32.00) on shares of Kroger in a research report on Monday. BMO Capital Markets set a $27.00 price target on Kroger and gave the stock a “hold” rating in a research report on Monday. Goldman Sachs Group restated a “neutral” rating and set a $22.00 price target on shares of Kroger in a research report on Tuesday, November 14th. Finally, Oppenheimer restated a “hold” rating and set a $26.00 price target on shares of Kroger in a research report on Monday, December 4th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.27.
Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, March 8th. The company reported $0.63 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.63. The business had revenue of $31.03 billion for the quarter, compared to analyst estimates of $30.81 billion. Kroger had a return on equity of 29.27% and a net margin of 1.55%. Kroger’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS.
A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Kroger by 22.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,618 shares of the company’s stock worth $264,000 after buying an additional 1,748 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in Kroger by 41.0% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 6,121 shares of the company’s stock worth $168,000 after buying an additional 1,780 shares during the period. Dowling & Yahnke LLC raised its stake in Kroger by 5.8% during the 4th quarter. Dowling & Yahnke LLC now owns 33,174 shares of the company’s stock worth $911,000 after buying an additional 1,805 shares during the period. Benedict Financial Advisors Inc. raised its stake in Kroger by 9.4% during the 4th quarter. Benedict Financial Advisors Inc. now owns 21,501 shares of the company’s stock worth $590,000 after buying an additional 1,845 shares during the period. Finally, Baker Ellis Asset Management LLC raised its stake in Kroger by 0.7% during the 4th quarter. Baker Ellis Asset Management LLC now owns 252,161 shares of the company’s stock worth $6,922,000 after buying an additional 1,875 shares during the period. 75.78% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Michael Joseph Donnelly sold 40,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $30.64, for a total value of $1,225,600.00. Following the transaction, the vice president now owns 319,124 shares of the company’s stock, valued at approximately $9,777,959.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Todd A. Foley sold 3,800 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $24.43, for a total value of $92,834.00. Following the completion of the transaction, the vice president now directly owns 31,273 shares in the company, valued at approximately $763,999.39. The disclosure for this sale can be found here. In the last three months, insiders sold 110,130 shares of company stock worth $3,187,062. 0.87% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Wednesday, February 14th. Kroger’s dividend payout ratio (DPR) is currently 29.76%.
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The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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