Kroger (NYSE:KR) Posts Earnings Results, Beats Estimates By $0.03 EPS

Kroger (NYSE:KR) released its quarterly earnings results on Thursday. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03, Briefing.com reports. Kroger had a return on equity of 21.79% and a net margin of 1.54%. The business had revenue of $28.17 billion during the quarter, compared to analysts’ expectations of $28.34 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Kroger updated its FY20 guidance to $2.15-2.25 EPS and its FY 2019 guidance to $2.30-2.40 EPS.

Shares of Kroger stock traded down $0.40 during trading on Thursday, hitting $25.17. 15,781,914 shares of the company were exchanged, compared to its average volume of 8,719,336. The firm has a market capitalization of $20.63 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.78 and a beta of 0.56. Kroger has a 1-year low of $20.70 and a 1-year high of $31.98. The firm’s fifty day moving average price is $23.07 and its 200 day moving average price is $23.97. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.75 and a quick ratio of 0.25.

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.16 per share. This is a positive change from Kroger’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, August 14th. Kroger’s payout ratio is presently 30.33%.

In other news, EVP J Michael Schlotman sold 15,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.01, for a total transaction of $330,150.00. Following the completion of the transaction, the executive vice president now directly owns 270,655 shares in the company, valued at approximately $5,957,116.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen M. Mckinney sold 15,600 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.05, for a total value of $343,980.00. Following the transaction, the insider now owns 168,070 shares of the company’s stock, valued at $3,705,943.50. The disclosure for this sale can be found here. Insiders have sold a total of 43,600 shares of company stock valued at $955,450 over the last 90 days. Corporate insiders own 1.34% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. LSV Asset Management grew its position in shares of Kroger by 1.8% in the 1st quarter. LSV Asset Management now owns 20,412,468 shares of the company’s stock valued at $502,146,000 after purchasing an additional 361,800 shares during the period. Geode Capital Management LLC grew its position in shares of Kroger by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 12,008,444 shares of the company’s stock valued at $329,733,000 after purchasing an additional 874,376 shares during the period. Northern Trust Corp grew its position in shares of Kroger by 1.1% in the 2nd quarter. Northern Trust Corp now owns 10,715,151 shares of the company’s stock valued at $232,626,000 after purchasing an additional 114,919 shares during the period. Victory Capital Management Inc. grew its position in shares of Kroger by 30.2% in the 2nd quarter. Victory Capital Management Inc. now owns 10,689,834 shares of the company’s stock valued at $232,077,000 after purchasing an additional 2,477,585 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of Kroger by 0.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,935,089 shares of the company’s stock valued at $150,561,000 after purchasing an additional 50,031 shares during the period. Institutional investors own 80.64% of the company’s stock.

A number of research analysts recently issued reports on KR shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $26.00 price target (up from $24.00) on shares of Kroger in a report on Wednesday, September 4th. Sanford C. Bernstein raised Kroger from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a report on Monday, May 20th. Telsey Advisory Group reissued a “market perform” rating and set a $27.00 price objective (down from $29.00) on shares of Kroger in a report on Friday, June 21st. ValuEngine raised Kroger from a “strong sell” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Pivotal Research reissued a “buy” rating and set a $26.00 price objective on shares of Kroger in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $28.29.

About Kroger

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.

Further Reading: Mutual Funds

Earnings History for Kroger (NYSE:KR)

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