Kroger Company (The) (KR) Issues Quarterly Earnings Results, Hits Expectations
Kroger Company (The) (NYSE:KR) posted its earnings results on Friday. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39, Briefing.com reports. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The firm had revenue of $27.60 billion for the quarter, compared to analysts’ expectations of $27.48 billion. During the same period last year, the firm earned $0.47 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. Kroger Company (The) updated its FY18 guidance to $2.00-2.05 EPS.
Kroger Company (NYSE:KR) opened at 22.77 on Friday. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 13.71 and a beta of 0.79. Kroger Company has a 12 month low of $20.46 and a 12 month high of $36.44. The firm’s 50 day moving average is $23.18 and its 200-day moving average is $26.95. Kroger Company (The) also saw some unusual options trading activity on Thursday. Traders purchased 31,730 put options on the stock. This is an increase of approximately 607% compared to the typical daily volume of 4,485 put options.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, August 11th. This is a positive change from Kroger Company (The)’s previous quarterly dividend of $0.12. Kroger Company (The)’s dividend payout ratio is presently 30.12%.
In other news, Director Susan M. Phillips sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the sale, the director now owns 124,105 shares of the company’s stock, valued at $2,627,302.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider J Michael Schlotman purchased 2,000 shares of the stock in a transaction dated Monday, June 26th. The stock was acquired at an average cost of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. Insiders own 0.85% of the company’s stock.
Kroger Company (The) declared that its Board of Directors has initiated a share buyback program on Thursday, June 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Several analysts recently commented on the company. BMO Capital Markets set a $32.00 target price on Kroger Company (The) and gave the company a “hold” rating in a research report on Saturday, June 10th. Deutsche Bank AG restated a “buy” rating on shares of Kroger Company (The) in a research report on Friday, May 12th. Bank of America Corporation cut Kroger Company (The) from a “buy” rating to a “neutral” rating in a research report on Thursday, June 15th. ValuEngine cut Kroger Company (The) from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $34.00 target price on shares of Kroger Company (The) in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Kroger Company (The) currently has a consensus rating of “Hold” and an average target price of $29.91.
About Kroger Company (The)
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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