Jefferies Financial Group Analysts Lower Earnings Estimates for The Kroger Co. (NYSE:KR)

Defense World · Dec 8, 2022 14:41

The Kroger Co. (NYSE:KR – Get Rating) – Research analysts at Jefferies Financial Group dropped their Q4 2023 earnings per share estimates for Kroger in a report issued on Monday, December 5th. Jefferies Financial Group analyst R. Dickerson now anticipates that the company will post earnings per share of $0.87 for the quarter, down from their prior estimate of $0.89. The consensus estimate for Kroger's current full-year earnings is $4.12 per share. Jefferies Financial Group also issued estimates for Kroger's FY2025 earnings at $4.24 EPS.

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

KR has been the subject of several other reports. MKM Partners cut their price objective on shares of Kroger from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Monday. Northcoast Research downgraded shares of Kroger from a "buy" rating to a "neutral" rating in a research report on Monday, October 17th. Guggenheim dropped their price target on shares of Kroger to $50.00 in a research report on Thursday, October 20th. Credit Suisse Group dropped their price target on shares of Kroger from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Thursday, September 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kroger from $54.00 to $56.00 and gave the company a "hold" rating in a research report on Tuesday, November 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Kroger presently has an average rating of "Hold" and a consensus target price of $53.39.

Kroger Trading Up 1.3 %

Shares of KR stock opened at $46.94 on Wednesday. The firm has a 50 day moving average price of $46.16 and a two-hundred day moving average price of $47.64. The company has a quick ratio of 0.27, a current ratio of 0.76 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $33.60 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. Kroger has a 12-month low of $41.81 and a 12-month high of $62.78.

Institutional Trading of Kroger

A number of hedge funds and other institutional investors have recently modified their holdings of KR. Kentucky Retirement Systems grew its stake in shares of Kroger by 3.4% during the first quarter. Kentucky Retirement Systems now owns 42,648 shares of the company's stock worth $2,447,000 after buying an additional 1,386 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Kroger by 9.3% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 19,749 shares of the company's stock worth $1,133,000 after purchasing an additional 1,680 shares during the last quarter. Ingalls & Snyder LLC bought a new stake in shares of Kroger in the first quarter worth $246,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Kroger by 144.2% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,859 shares of the company's stock worth $221,000 after purchasing an additional 2,279 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Kroger by 13.4% in the first quarter. Swiss National Bank now owns 3,059,790 shares of the company's stock worth $175,540,000 after purchasing an additional 361,600 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Insider Activity at Kroger

In related news, VP Carin L. Fike sold 5,779 shares of Kroger stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $47.72, for a total value of $275,773.88. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.35% of the stock is currently owned by insiders.

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Tuesday, November 15th were paid a $0.26 dividend. The ex-dividend date was Monday, November 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.22%. Kroger's dividend payout ratio (DPR) is 32.50%.

Kroger Company Profile

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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.