Kroger (NYSE:KR) Sets New 1-Year High After Strong Earnings

The Kroger Co. (NYSE:KRGet Free Report)’s stock price reached a new 52-week high during trading on Monday following a stronger than expected earnings report. The company traded as high as $74.11 and last traded at $73.72, with a volume of 2446107 shares. The stock had previously closed at $71.97.

The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. Kroger had a return on equity of 30.01% and a net margin of 1.76%. The business had revenue of $45.12 billion during the quarter, compared to analyst estimates of $45.35 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen upgraded Kroger from a “hold” rating to a “buy” rating in a research report on Saturday. Evercore ISI dropped their target price on Kroger from $76.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Kroger from $57.00 to $67.00 and gave the company a “hold” rating in a report on Monday. Melius upgraded Kroger from a “sell” rating to a “hold” rating and set a $70.00 price target for the company in a report on Tuesday, May 20th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $82.00 price target (up previously from $73.00) on shares of Kroger in a report on Friday, June 20th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.47.

Read Our Latest Research Report on KR

Insider Activity

In other Kroger news, VP Brian W. Nichols sold 1,000 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $72.03, for a total transaction of $72,030.00. Following the sale, the vice president now directly owns 10,473 shares of the company’s stock, valued at approximately $754,370.19. This trade represents a 8.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Carin L. Fike sold 5,541 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $70.79, for a total value of $392,247.39. Following the sale, the vice president now directly owns 3,480 shares in the company, valued at $246,349.20. This represents a 61.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,793 shares of company stock worth $14,938,358. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Kroger

A number of institutional investors have recently modified their holdings of the business. Voya Investment Management LLC grew its position in shares of Kroger by 1.3% during the 1st quarter. Voya Investment Management LLC now owns 208,073 shares of the company’s stock valued at $14,084,000 after acquiring an additional 2,586 shares during the period. 1248 Management LLC acquired a new stake in Kroger in the 1st quarter worth about $631,000. First Hawaiian Bank acquired a new stake in Kroger in the 1st quarter worth about $383,000. Modern Wealth Management LLC acquired a new stake in Kroger in the 1st quarter worth about $654,000. Finally, Strs Ohio acquired a new stake in Kroger in the 1st quarter worth about $62,730,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Kroger Trading Down 1.0%

The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $48.44 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.21 and a beta of 0.58. The company has a fifty day moving average of $69.09 and a 200-day moving average of $65.43.

Kroger Company Profile

(Get Free Report)

The Kroger Co operates as a food and drug 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.

Further Reading

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