Jefferies Group Research Analysts Cut Earnings Estimates for Kroger Company (The) (KR)

Kroger Company (The) (NYSE:KR) – Jefferies Group reduced their Q2 2019 earnings per share (EPS) estimates for shares of Kroger Company (The) in a research note issued on Monday. Jefferies Group analyst C. Mandeville now anticipates that the company will earn $0.39 per share for the quarter, down from their prior estimate of $0.42. Jefferies Group has a “Hold” rating and a $19.00 price target on the stock. Jefferies Group also issued estimates for Kroger Company (The)’s Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.57 EPS, FY2019 earnings at $1.96 EPS, FY2020 earnings at $2.04 EPS, FY2021 earnings at $2.22 EPS and FY2022 earnings at $2.44 EPS.

Kroger Company (The) (NYSE:KR) last posted its quarterly earnings data on Friday, September 8th. The company reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The firm had revenue of $27.60 billion during the quarter, compared to analysts’ expectations of $27.48 billion. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. The business’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. ILLEGAL ACTIVITY NOTICE: “Jefferies Group Research Analysts Cut Earnings Estimates for Kroger Company (The) (KR)” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://sportsperspectives.com/2017/09/12/jefferies-group-research-analysts-cut-earnings-estimates-for-kroger-company-the-kr.html.

A number of other equities analysts also recently commented on KR. UBS AG reiterated a “neutral” rating and set a $27.00 target price (down previously from $32.00) on shares of Kroger Company (The) in a research note on Friday, June 16th. Hilliard Lyons reiterated a “buy” rating and set a $30.00 target price on shares of Kroger Company (The) in a research note on Tuesday. Pivotal Research upgraded shares of Kroger Company (The) from a “hold” rating to a “buy” rating and boosted their target price for the stock from $21.34 to $25.00 in a research note on Tuesday. BidaskClub upgraded shares of Kroger Company (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, BMO Capital Markets lowered their target price on shares of Kroger Company (The) from $24.00 to $20.00 and set a “market perform” rating for the company in a research note 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. The stock currently has an average rating of “Hold” and an average price target of $28.58.

Kroger Company (NYSE KR) traded up 1.12% during mid-day trading on Tuesday, hitting $21.58. The stock had a trading volume of 18,885,862 shares. Kroger Company has a 52-week low of $20.41 and a 52-week high of $36.44. The stock has a market cap of $19.36 billion, a P/E ratio of 12.99 and a beta of 0.79. The firm has a 50-day moving average of $23.12 and a 200-day moving average of $26.76.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were issued a dividend of $0.125 per share. This is a boost from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, August 11th. Kroger Company (The)’s dividend payout ratio is currently 30.30%.

Kroger Company (The) declared that its board has initiated a stock repurchase program on Thursday, June 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, insider J Michael Schlotman purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was purchased at an average cost of $22.73 per share, with a total value of $45,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan M. Phillips sold 6,200 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $21.17, for a total transaction of $131,254.00. Following the transaction, the director now directly owns 124,105 shares of the company’s stock, valued at $2,627,302.85. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aldebaran Financial Inc. raised its holdings in Kroger Company (The) by 0.6% during the first quarter. Aldebaran Financial Inc. now owns 14,130 shares of the company’s stock worth $417,000 after purchasing an additional 78 shares in the last quarter. Savant Capital LLC raised its holdings in Kroger Company (The) by 0.9% during the second quarter. Savant Capital LLC now owns 10,617 shares of the company’s stock worth $248,000 after purchasing an additional 90 shares in the last quarter. Cadence Capital Management LLC raised its holdings in Kroger Company (The) by 0.7% during the first quarter. Cadence Capital Management LLC now owns 19,717 shares of the company’s stock worth $581,000 after purchasing an additional 143 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in Kroger Company (The) by 1.4% during the second quarter. Peapack Gladstone Financial Corp now owns 11,343 shares of the company’s stock worth $265,000 after purchasing an additional 154 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its holdings in Kroger Company (The) by 4.1% during the first quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock worth $125,000 after purchasing an additional 171 shares in the last quarter. 74.63% of the stock is owned by hedge funds and other institutional investors.

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.

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

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