Q3 2023 EPS Estimates for The Kroger Co. Lowered by Analyst (NYSE:KR)

The Kroger Co. (NYSE:KR) – Equities researchers at Jefferies Financial Group decreased their Q3 2023 earnings per share estimates for shares of The Kroger in a report released on Sunday, September 12th. Jefferies Financial Group analyst M. Fishbein now forecasts that the company will post earnings of $0.59 per share for the quarter, down from their previous forecast of $0.60. Jefferies Financial Group also issued estimates for The Kroger’s FY2023 earnings at $2.99 EPS.

The Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, September 9th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.16. The business had revenue of $31.68 billion for the quarter, compared to analyst estimates of $30.69 billion. The Kroger had a net margin of 0.87% and a return on equity of 28.26%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of The Kroger from $39.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, September 7th. MKM Partners increased their price target on The Kroger from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday. Citigroup upped their price objective on The Kroger from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, June 18th. UBS Group upped their price objective on The Kroger from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, June 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on The Kroger from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, June 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.28.

Shares of KR opened at $41.79 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.82 and a debt-to-equity ratio of 1.41. The company’s fifty day moving average is $42.67 and its 200-day moving average is $39.04. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.54 and a beta of 0.39. The Kroger has a 12 month low of $30.35 and a 12 month high of $47.99.

A number of institutional investors and hedge funds have recently modified their holdings of KR. Stonebridge Capital Advisors LLC purchased a new position in The Kroger in the first quarter valued at about $25,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of The Kroger in the first quarter valued at about $29,000. Grandview Asset Management LLC purchased a new position in shares of The Kroger in the first quarter worth about $29,000. Selective Wealth Management Inc. raised its stake in The Kroger by 62.5% during the second quarter. Selective Wealth Management Inc. now owns 780 shares of the company’s stock worth $30,000 after purchasing an additional 300 shares during the period. Finally, Meridian Wealth Partners LLC purchased a new position in The Kroger during the first quarter worth about $31,000. Institutional investors own 82.42% of the company’s stock.

In other news, VP Carin L. Fike sold 1,145 shares of the stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $38.30, for a total value of $43,853.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Calvin J. Kaufman sold 14,425 shares of the firm’s stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $39.51, for a total value of $569,931.75. Following the transaction, the senior vice president now directly owns 272,963 shares of the company’s stock, valued at approximately $10,784,768.13. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

The Kroger declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were given a dividend of $0.21 per share. This is an increase from The Kroger’s previous quarterly dividend of $0.18. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, August 12th. The Kroger’s dividend payout ratio is currently 24.21%.

About The Kroger

The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out…, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.

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

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