Kroger (NYSE:KR) Issues Earnings Results

Kroger (NYSE:KR – Get Rating) released its earnings results on Thursday, June 16th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.18, RTT News reports. Kroger had a net margin of 1.54% and a return on equity of 31.50%. During the same quarter in the prior year, the firm posted $1.19 EPS. Kroger updated its FY 2022 guidance to $3.85-$3.95 EPS.

Shares of KR stock opened at $48.45 on Monday. The company has a 50 day moving average of $52.44 and a 200-day moving average of $50.80. The company has a quick ratio of 0.30, a current ratio of 0.76 and a debt-to-equity ratio of 1.39. Kroger has a 12-month low of $37.26 and a 12-month high of $62.78. The firm has a market cap of $34.93 billion, a P/E ratio of 16.71, a PEG ratio of 1.10 and a beta of 0.49.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.15%. This is a boost from Kroger’s previous quarterly dividend of $0.21. Kroger’s dividend payout ratio (DPR) is currently 28.97%.

In other Kroger news, SVP Yael Cosset sold 34,812 shares of the business’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $59.50, for a total value of $2,071,314.00. Following the transaction, the senior vice president now owns 162,207 shares in the company, valued at $9,651,316.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy A. Massa sold 50,283 shares of the company’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $58.03, for a total transaction of $2,917,922.49. Following the completion of the sale, the senior vice president now owns 163,956 shares in the company, valued at approximately $9,514,366.68. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd increased its position in Kroger by 50.4% during the 1st quarter. Covestor Ltd now owns 1,690 shares of the company’s stock valued at $97,000 after purchasing an additional 566 shares during the period. Parkside Financial Bank & Trust lifted its stake in Kroger by 49.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,932 shares of the company’s stock valued at $111,000 after acquiring an additional 643 shares during the period. Evercore Wealth Management LLC acquired a new stake in Kroger during the 1st quarter valued at approximately $207,000. qPULA Trading Management LP acquired a new position in shares of Kroger in the 1st quarter valued at $224,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Kroger by 15,338.5% in the 1st quarter. Penserra Capital Management LLC now owns 4,014 shares of the company’s stock valued at $230,000 after purchasing an additional 3,988 shares during the period. 81.52% of the stock is owned by institutional investors.

A number of analysts recently issued reports on KR shares. MKM Partners increased their target price on Kroger from $48.00 to $55.00 in a research note on Tuesday, June 21st. StockNews.com initiated coverage on Kroger in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Guggenheim restated a “buy” rating and set a $57.00 price objective on shares of Kroger in a report on Friday, June 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Kroger from $50.00 to $53.00 in a research note on Friday, June 17th. Finally, Credit Suisse Group upped their target price on Kroger from $47.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, March 4th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $52.22.

Kroger Company Profile (Get Rating)

The Kroger Co operates as a retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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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