Analysts Anticipate Kroger Company (The) (KR) Will Post Quarterly Sales of $27.19 Billion

Brokerages predict that Kroger Company (The) (NYSE:KR) will announce sales of $27.19 billion for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Kroger Company (The)’s earnings, with estimates ranging from $26.88 billion to $27.37 billion. Kroger Company (The) posted sales of $26.56 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.4%. The firm is expected to report its next quarterly earnings results on Thursday, December 7th.

According to Zacks, analysts expect that Kroger Company (The) will report full-year sales of $27.19 billion for the current financial year, with estimates ranging from $120.23 billion to $122.08 billion. For the next year, analysts anticipate that the business will post sales of $122.77 billion per share, with estimates ranging from $120.99 billion to $124.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Kroger Company (The).

Kroger Company (The) (NYSE:KR) last issued its quarterly earnings data on Friday, September 8th. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $27.60 billion during the quarter, compared to analyst estimates of $27.48 billion. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. Kroger Company (The)’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS.

Several research firms have recently weighed in on KR. UBS AG reiterated a “neutral” rating and issued a $27.00 price objective (down from $32.00) on shares of Kroger Company (The) in a research note on Friday, June 16th. Hilliard Lyons reiterated a “buy” rating and issued a $30.00 price objective on shares of Kroger Company (The) in a research report on Tuesday. Pivotal Research upgraded Kroger Company (The) from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.34 to $25.00 in a research report on Tuesday. BidaskClub upgraded Kroger Company (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, BMO Capital Markets decreased their price objective on Kroger Company (The) from $24.00 to $20.00 and set a “market perform” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Kroger Company (The) currently has an average rating of “Hold” and an average target price of $28.58.

Kroger Company (NYSE KR) opened at 21.58 on Wednesday. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 12.99 and a beta of 0.79. The stock has a 50 day moving average price of $23.07 and a 200 day moving average price of $26.72. Kroger Company has a 12 month low of $20.41 and a 12 month high of $36.44.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.125 per share. The ex-dividend date was Friday, August 11th. This represents a $0.50 annualized dividend and a dividend yield of 2.32%. This is a boost from Kroger Company (The)’s previous quarterly dividend of $0.12. Kroger Company (The)’s dividend payout ratio (DPR) is 30.30%.

Kroger Company (The) announced that its board has authorized a stock buyback plan on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 4.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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In related news, Director Susan M. Phillips sold 6,200 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $21.17, for a total transaction of $131,254.00. Following the transaction, the director now owns 124,105 shares of the company’s stock, valued at approximately $2,627,302.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider J Michael Schlotman purchased 2,000 shares of the business’s stock in a transaction on Monday, June 26th. The stock was purchased at an average cost of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. Company insiders own 0.87% of the company’s stock.

A number of institutional investors have recently made changes to their positions in KR. Bank of Nova Scotia boosted its stake in shares of Kroger Company (The) by 906.4% during the 1st quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock valued at $6,247,000 after purchasing an additional 190,790 shares in the last quarter. Holderness Investments Co. purchased a new position in Kroger Company (The) during the 1st quarter valued at about $277,000. Hosking Partners LLP lifted its position in Kroger Company (The) by 10.2% during the 1st quarter. Hosking Partners LLP now owns 528,328 shares of the company’s stock valued at $15,580,000 after acquiring an additional 48,785 shares during the period. NEXT Financial Group Inc lifted its position in Kroger Company (The) by 10.8% during the 1st quarter. NEXT Financial Group Inc now owns 9,177 shares of the company’s stock valued at $272,000 after acquiring an additional 898 shares during the period. Finally, Cardinal Capital Management Inc. purchased a new position in Kroger Company (The) during the 2nd quarter valued at about $455,000. 74.63% of the stock is currently owned by institutional investors and hedge funds.

About Kroger Company (The)

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

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Earnings History and Estimates for Kroger Company (The) (NYSE:KR)

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