Zacks: Analysts Anticipate Kroger Co (NYSE:KR) Will Announce Quarterly Sales of $28.76 Billion

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Wall Street analysts expect that Kroger Co (NYSE:KR) will report sales of $28.76 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Kroger’s earnings, with the lowest sales estimate coming in at $28.20 billion and the highest estimate coming in at $29.15 billion. Kroger posted sales of $28.09 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The company is expected to announce its next quarterly earnings report on Thursday, March 5th.

On average, analysts expect that Kroger will report full year sales of $122.22 billion for the current fiscal year, with estimates ranging from $121.59 billion to $122.54 billion. For the next year, analysts anticipate that the company will post sales of $125.16 billion, with estimates ranging from $123.94 billion to $126.07 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Kroger.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.01). Kroger had a return on equity of 20.32% and a net margin of 1.31%. The firm had revenue of $27.97 billion for the quarter, compared to analysts’ expectations of $28.18 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. Kroger’s revenue was up .5% on a year-over-year basis.

A number of research firms recently weighed in on KR. Wells Fargo & Co lifted their target price on Kroger from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Bank of America set a $28.00 price objective on Kroger and gave the company a “buy” rating in a report on Friday, September 13th. Pivotal Research reiterated a “buy” rating and issued a $30.00 target price (up previously from $26.00) on shares of Kroger in a research note on Wednesday, September 11th. Credit Suisse Group reiterated a “buy” rating and issued a $30.00 target price on shares of Kroger in a research note on Monday, December 9th. Finally, ValuEngine upgraded shares of Kroger from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.68.

NYSE KR traded down $0.11 during trading on Monday, hitting $28.09. 6,650,935 shares of the company traded hands, compared to its average volume of 6,444,118. The company has a current ratio of 0.78, a quick ratio of 0.26 and a debt-to-equity ratio of 2.14. The business has a fifty day simple moving average of $26.69 and a 200 day simple moving average of $24.26. The company has a market capitalization of $22.46 billion, a P/E ratio of 13.31, a PEG ratio of 2.06 and a beta of 0.58. Kroger has a 12 month low of $20.70 and a 12 month high of $30.40.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, November 14th. Kroger’s dividend payout ratio is currently 30.33%.

In other news, SVP Mary Ellen Adcock sold 15,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.00, for a total value of $431,200.00. Following the sale, the senior vice president now owns 121,085 shares of the company’s stock, valued at $3,390,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Michael Joseph Donnelly sold 40,510 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.28, for a total transaction of $1,064,602.80. Following the completion of the sale, the chief operating officer now directly owns 350,145 shares in the company, valued at approximately $9,201,810.60. The disclosure for this sale can be found here. Insiders have sold 59,910 shares of company stock valued at $1,600,563 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in KR. Millennium Management LLC raised its holdings in Kroger by 91,031.4% in the 3rd quarter. Millennium Management LLC now owns 3,005,513 shares of the company’s stock worth $77,482,000 after purchasing an additional 3,002,215 shares in the last quarter. Man Group plc increased its stake in Kroger by 586.0% during the 3rd quarter. Man Group plc now owns 1,045,499 shares of the company’s stock valued at $26,954,000 after purchasing an additional 893,093 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Kroger during the 3rd quarter valued at about $342,000. National Pension Service increased its stake in Kroger by 5.2% during the 3rd quarter. National Pension Service now owns 1,084,663 shares of the company’s stock valued at $27,963,000 after purchasing an additional 53,795 shares in the last quarter. Finally, Cutler Investment Counsel LLC boosted its holdings in shares of Kroger by 0.3% during the 3rd quarter. Cutler Investment Counsel LLC now owns 232,498 shares of the company’s stock valued at $5,994,000 after acquiring an additional 583 shares during the last quarter. 79.11% of the stock is owned by institutional investors and hedge funds.

Kroger Company Profile

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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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Earnings History and Estimates for Kroger (NYSE:KR)

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