Kroger (NYSE:KR – Get Rating) updated its FY 2022 earnings guidance on Friday. The company provided earnings per share guidance of $3.95-$4.05 for the period, compared to the consensus earnings per share estimate of $3.96. The company issued revenue guidance of -. Kroger also updated its FY23 guidance to $3.95-4.05 EPS.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Kroger from $38.00 to $41.00 and gave the stock an underweight rating in a report on Friday, June 17th. Credit Suisse Group reduced their price target on Kroger from $60.00 to $55.00 and set a neutral rating for the company in a research report on Thursday. Guggenheim reissued a buy rating and issued a $57.00 price objective on shares of Kroger in a research report on Friday, June 17th. Oppenheimer reduced their price target on shares of Kroger to $51.00 in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Kroger from $50.00 to $53.00 in a research note on Friday, June 17th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $52.22.
Kroger Stock Performance
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NYSE KR traded up $0.82 on Friday, reaching $49.18. The stock had a trading volume of 159,185 shares, compared to its average volume of 4,925,120. The firm has a fifty day moving average of $47.76 and a two-hundred day moving average of $51.49. Kroger has a 1-year low of $38.22 and a 1-year high of $62.78. The company has a market cap of $35.19 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.12 and a beta of 0.47. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.76 and a quick ratio of 0.30.
Kroger (NYSE:KR – Get Rating) last posted its earnings results on Thursday, June 16th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.28 by $0.17. The firm had revenue of $44.60 billion during the quarter, compared to the consensus estimate of $44.23 billion. Kroger had a return on equity of 31.50% and a net margin of 1.54%. During the same period last year, the company earned $1.19 earnings per share. On average, equities research analysts anticipate that Kroger will post 3.95 EPS for the current year.
Kroger Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, August 12th. This is a boost from Kroger’s previous quarterly dividend of $0.21. Kroger’s payout ratio is 35.86%.
Institutional Trading of Kroger
Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Kroger in the 1st quarter worth about $71,410,000. Eaton Vance Management raised its position in Kroger by 175.8% in the 1st quarter. Eaton Vance Management now owns 1,306,295 shares of the company’s stock worth $74,943,000 after purchasing an additional 832,615 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Kroger by 323.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 869,153 shares of the company’s stock worth $49,863,000 after buying an additional 663,901 shares during the period. Cibc World Markets Corp boosted its holdings in Kroger by 1,097.0% during the 1st quarter. Cibc World Markets Corp now owns 288,748 shares of the company’s stock valued at $16,565,000 after acquiring an additional 264,626 shares during the period. Finally, Federated Hermes Inc. grew its position in Kroger by 83.0% during the 1st quarter. Federated Hermes Inc. now owns 523,068 shares of the company’s stock worth $30,009,000 after acquiring an additional 237,265 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.
Kroger Company Profile
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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