Jefferies Group Weighs in on Kroger Co.’s Q3 2017 Earnings (KR)
Kroger Co. (NYSE:KR) – Equities researchers at Jefferies Group dropped their Q3 2017 earnings estimates for Kroger in a note issued to investors on Friday. Jefferies Group analyst C. Mandeville now anticipates that the brokerage will post earnings of $0.41 per share for the quarter, down from their previous forecast of $0.42. Jefferies Group currently has a “Hold” rating and a $32.00 target price on the stock. Jefferies Group also issued estimates for Kroger’s FY2017 earnings at $2.15 EPS, Q1 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $2.40 EPS, FY2019 earnings at $2.42 EPS and FY2020 earnings at $2.64 EPS.
Several other research analysts have also recently weighed in on the stock. BMO Capital Markets cut shares of Kroger from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $34.01 to $35.00 in a research report on Tuesday, August 2nd. Royal Bank Of Canada dropped their price objective on shares of Kroger from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 7th. Zacks Investment Research cut shares of Kroger from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Citigroup Inc. dropped their target price on shares of Kroger from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 29th. Finally, Piper Jaffray Cos. reiterated an “underweight” rating and set a $29.00 target price on shares of Kroger in a research report on Friday, June 17th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.92.
Shares of Kroger (NYSE:KR) opened at 29.28 on Monday. The stock’s 50 day moving average price is $31.43 and its 200 day moving average price is $34.81. Kroger has a 1-year low of $29.25 and a 1-year high of $42.75. The company has a market capitalization of $27.65 billion, a price-to-earnings ratio of 13.88 and a beta of 0.70.
Kroger (NYSE:KR) last issued its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm earned $26.60 billion during the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 annualized dividend and a yield of 1.64%. Kroger’s dividend payout ratio is currently 22.86%.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total transaction of $962,550.00. Following the transaction, the insider now owns 130,857 shares in the company, valued at approximately $4,063,109.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Oflen Mary Elizabeth Van sold 12,000 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the transaction, the vice president now owns 82,349 shares in the company, valued at approximately $3,116,909.65. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in KR. Bank of Montreal Can acquired a new position in shares of Kroger during the second quarter worth about $235,225,000. Capital Research Global Investors raised its stake in Kroger by 9.7% in the second quarter. Capital Research Global Investors now owns 64,888,884 shares of the company’s stock valued at $2,387,262,000 after buying an additional 5,748,043 shares in the last quarter. Nordea Investment Management AB raised its stake in Kroger by 365.3% in the second quarter. Nordea Investment Management AB now owns 6,121,963 shares of the company’s stock valued at $225,227,000 after buying an additional 4,806,246 shares in the last quarter. Janus Capital Management LLC raised its stake in Kroger by 14.8% in the second quarter. Janus Capital Management LLC now owns 35,280,006 shares of the company’s stock valued at $1,297,932,000 after buying an additional 4,550,220 shares in the last quarter. Finally, WestEnd Advisors LLC purchased a new stake in Kroger during the second quarter valued at about $95,812,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
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