FY2023 EPS Estimates for The Kroger Co. Lifted by Analyst (NYSE:KR)

Financial News Live · Dec 7, 2022 16:20

The Kroger Co. (NYSE:KR – Get Rating) – Equities research analysts at Oppenheimer boosted their FY2023 earnings per share (EPS) estimates for Kroger in a report released on Thursday, December 1st. Oppenheimer analyst R. Parikh now expects that the company will post earnings per share of $4.10 for the year, up from their previous forecast of $4.05. The consensus estimate for Kroger's current full-year earnings is $4.12 per share. Oppenheimer also issued estimates for Kroger's Q4 2023 earnings at $0.86 EPS, Q1 2024 earnings at $1.42 EPS, Q2 2024 earnings at $0.95 EPS, Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $1.03 EPS and FY2025 earnings at $4.25 EPS.

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A number of other research firms have also commented on KR. Jefferies Financial Group raised their price target on Kroger from $45.00 to $50.00 in a research report on Monday. BNP Paribas raised Kroger from a "neutral" rating to an "outperform" rating and set a $51.00 price target on the stock in a research report on Monday, October 10th. Morgan Stanley lifted their target price on Kroger from $43.00 to $44.00 and gave the company an "underweight" rating in a research report on Monday. Credit Suisse Group dropped their target price on Kroger from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, September 8th. Finally, Sanford C. Bernstein initiated coverage on Kroger in a research report on Tuesday. They issued an "outperform" rating and a $58.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $53.39.

Kroger Price Performance

Shares of KR opened at $46.33 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.27 and a debt-to-equity ratio of 1.25. Kroger has a 1 year low of $41.81 and a 1 year high of $62.78. The stock has a market cap of $33.16 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 0.99 and a beta of 0.49. The stock's 50-day moving average price is $46.08 and its two-hundred day moving average price is $47.66.

Kroger (NYSE:KR – Get Rating) last issued its earnings results on Thursday, December 1st. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.07. Kroger had a return on equity of 31.92% and a net margin of 1.61%. The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.92 billion. During the same quarter last year, the business earned $0.78 earnings per share. The company's revenue was up 7.3% compared to the same quarter last year.

Kroger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Tuesday, November 15th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, November 14th. Kroger's dividend payout ratio (DPR) is currently 32.50%.

Insider Buying and Selling

In other news, VP Carin L. Fike sold 5,779 shares of the stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $47.72, for a total value of $275,773.88. Following the completion of the sale, the vice president now directly owns 5,320 shares of the company's stock, valued at $253,870.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kroger

Several institutional investors and hedge funds have recently bought and sold shares of KR. McClarren Financial Advisors Inc. bought a new position in Kroger during the third quarter valued at $27,000. Core Alternative Capital boosted its holdings in shares of Kroger by 176.2% in the second quarter. Core Alternative Capital now owns 660 shares of the company's stock worth $31,000 after acquiring an additional 421 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Kroger by 42.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 730 shares of the company's stock worth $35,000 after acquiring an additional 219 shares during the period. Key Financial Inc boosted its holdings in shares of Kroger by 66.3% in the second quarter. Key Financial Inc now owns 740 shares of the company's stock worth $36,000 after acquiring an additional 295 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of Kroger in the first quarter worth $38,000. 79.05% of the stock is owned by institutional investors.

About Kroger

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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.