Kroger Co. (NYSE:KR) – Jefferies Group dropped their Q3 2017 earnings per share (EPS) estimates for Kroger in a note issued to investors on Friday. Jefferies Group analyst C. Mandeville now forecasts that the brokerage will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.42. Jefferies Group has a “Hold” rating and a $32.00 price objective on the stock. Jefferies Group also issued estimates for Kroger’s FY2017 earnings at $2.15 EPS, Q1 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $2.40 EPS, FY2019 earnings at $2.42 EPS and FY2020 earnings at $2.64 EPS.
Several other research analysts also recently issued reports on the stock. BMO Capital Markets downgraded shares of Kroger from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $34.01 to $35.00 in a research report on Tuesday, August 2nd. Royal Bank Of Canada cut their target price on shares of Kroger from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 7th. Zacks Investment Research downgraded shares of Kroger from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Citigroup Inc. cut their target price on shares of Kroger from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 29th. Finally, Piper Jaffray Cos. restated an “underweight” rating and set a $29.00 target price on shares of Kroger in a research report on Friday, June 17th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $38.92.
Kroger (NYSE:KR) last posted its earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The firm had revenue of $26.60 billion for the quarter. During the same quarter last year, the business earned $0.44 earnings per share. Kroger’s revenue was up 4.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s dividend payout ratio is currently 22.86%.
In other news, VP Oflen Mary Elizabeth Van sold 12,000 shares of Kroger stock in a transaction on Friday, July 8th. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the completion of the sale, the vice president now owns 82,349 shares of the company’s stock, valued at $3,116,909.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin M. Dougherty sold 31,000 shares of Kroger stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the sale, the insider now directly owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.
Several large investors have recently bought and sold shares of KR. Physicians Financial Services Inc. increased its stake in Kroger by 7,500.0% in the second quarter. Physicians Financial Services Inc. now owns 3,040 shares of the company’s stock worth $112,000 after buying an additional 3,000 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Kroger by 32.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,246 shares of the company’s stock worth $119,000 after buying an additional 800 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Kroger by 2.8% in the second quarter. Integrated Investment Consultants LLC now owns 3,722 shares of the company’s stock worth $137,000 after buying an additional 100 shares in the last quarter. Barnett & Company Inc. purchased a new stake in Kroger during the first quarter worth $145,000. Finally, Ledyard National Bank increased its stake in Kroger by 16.2% in the second quarter. Ledyard National Bank now owns 4,300 shares of the company’s stock worth $158,000 after buying an additional 600 shares in the last quarter. 80.17% of the stock is owned by institutional investors.
Kroger Company Profile
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
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