Kroger (KR) Shares Down 9.9%

Kroger Co (NYSE:KR) dropped 9.9% on Thursday . The company traded as low as $28.30 and last traded at $28.58. Approximately 32,440,809 shares traded hands during trading, an increase of 207% from the average daily volume of 10,564,408 shares. The stock had previously closed at $31.73.

KR has been the topic of a number of research analyst reports. Credit Suisse Group set a $31.00 target price on Kroger and gave the stock a “hold” rating in a report on Friday, June 29th. Telsey Advisory Group increased their target price on Kroger from $27.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, June 22nd. Citigroup reaffirmed a “buy” rating and set a $34.00 target price on shares of Kroger in a report on Tuesday, June 26th. Wolfe Research downgraded Kroger from a “market perform” rating to an “underperform” rating in a report on Monday, June 25th. Finally, TheStreet raised Kroger from a “c+” rating to a “b” rating in a report on Friday, June 29th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.20.

The firm has a market capitalization of $25.28 billion, a PE ratio of 13.63, a P/E/G ratio of 2.23 and a beta of 0.94. The company has a quick ratio of 0.29, a current ratio of 0.76 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $27.87 billion for the quarter, compared to the consensus estimate of $27.95 billion. Kroger had a return on equity of 29.59% and a net margin of 2.93%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. sell-side analysts anticipate that Kroger Co will post 2.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.82 annualized dividend and a yield of 6.55%. This is an increase from Kroger’s previous quarterly dividend of $0.14. Kroger’s payout ratio is presently 27.45%.

In other Kroger news, Director Susan J. Kropf sold 13,000 shares of Kroger stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $28.43, for a total transaction of $369,590.00. Following the sale, the director now owns 101,171 shares of the company’s stock, valued at approximately $2,876,291.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Carin L. Fike sold 4,000 shares of Kroger stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $28.76, for a total value of $115,040.00. Following the sale, the vice president now directly owns 29,361 shares in the company, valued at approximately $844,422.36. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Landaas & Co. WI ADV acquired a new position in shares of Kroger during the 2nd quarter valued at $100,000. Bridgeworth LLC acquired a new position in shares of Kroger during the 2nd quarter valued at $109,000. CSat Investment Advisory L.P. acquired a new position in shares of Kroger during the 2nd quarter valued at $109,000. Creative Financial Designs Inc. ADV increased its position in shares of Kroger by 100.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 5,170 shares of the company’s stock valued at $147,000 after purchasing an additional 2,587 shares during the period. Finally, Kiley Juergens Wealth Management LLC acquired a new position in shares of Kroger during the 2nd quarter valued at $173,000. Institutional investors own 78.72% of the company’s stock.

Kroger Company Profile (NYSE:KR)

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

Further Reading: Price to Earnings Ratio (PE) Basics

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