Kroger (NYSE:KR) Issues Quarterly Earnings Results

Kroger (NYSE:KR) posted its earnings results on Thursday. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.21, Briefing.com reports. The company had revenue of $37.06 billion during the quarter, compared to analysts’ expectations of $37.07 billion. Kroger had a return on equity of 31.44% and a net margin of 1.44%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. Kroger updated its FY25 guidance to $4.30-4.50 EPS and its FY 2024 guidance to 4.300-4.500 EPS.

Kroger Stock Up 0.9 %

NYSE KR traded up $0.49 during trading on Friday, reaching $55.97. 9,642,441 shares of the company’s stock were exchanged, compared to its average volume of 5,683,880. The stock has a market cap of $40.27 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.33 and a current ratio of 0.81. The company has a 50 day moving average price of $47.12 and a two-hundred day moving average price of $45.65. Kroger has a 1 year low of $42.10 and a 1 year high of $56.04.

Kroger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.07%. Kroger’s dividend payout ratio (DPR) is presently 45.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KR shares. Morgan Stanley cut their target price on Kroger from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, December 1st. Stephens lowered their price target on Kroger from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, December 1st. TheStreet upgraded Kroger from a “c+” rating to a “b” rating in a research report on Thursday, November 30th. JPMorgan Chase & Co. lowered their price target on Kroger from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, December 1st. Finally, Wells Fargo & Company upgraded Kroger from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $50.00 in a research report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

Institutional Trading of Kroger

A number of institutional investors have recently bought and sold shares of the business. Dagco Inc. acquired a new stake in shares of Kroger during the fourth quarter worth about $26,000. KB Financial Partners LLC acquired a new position in Kroger in the 1st quarter valued at about $28,000. Resurgent Financial Advisors LLC acquired a new position in Kroger in the 4th quarter valued at about $35,000. Main Street Group LTD acquired a new position in Kroger in the 4th quarter valued at about $38,000. Finally, Hobbs Group Advisors LLC acquired a new position in Kroger in the 4th quarter valued at about $44,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Kroger Company Profile

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.