Kroger Co (NYSE:KR) – Research analysts at Jefferies Financial Group reduced their Q1 2020 earnings per share estimates for Kroger in a report issued on Sunday, June 9th. Jefferies Financial Group analyst C. Mandeville now expects that the company will earn $0.71 per share for the quarter, down from their prior forecast of $0.73. Jefferies Financial Group also issued estimates for Kroger’s Q3 2020 earnings at $0.52 EPS.
Other analysts also recently issued reports about the stock. Scotiabank set a $32.00 price objective on shares of Kroger and gave the stock a “buy” rating in a report on Friday, March 8th. Bank of America dropped their price objective on shares of Kroger from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. TheStreet downgraded shares of Kroger from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th. Morgan Stanley dropped their price objective on shares of Kroger from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 8th. Finally, ValuEngine raised shares of Kroger from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.84.
The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, May 14th. Kroger’s payout ratio is presently 26.54%.
In other Kroger news, Director Robert D. Beyer sold 80,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $24.52, for a total value of $1,961,600.00. Following the transaction, the director now owns 126,800 shares in the company, valued at $3,109,136. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Joseph Donnelly sold 10,916 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $25.83, for a total transaction of $281,960.28. Following the completion of the transaction, the vice president now owns 351,095 shares in the company, valued at approximately $9,068,783.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,416 shares of company stock worth $2,694,175. 1.34% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in KR. Lavaca Capital LLC purchased a new position in shares of Kroger during the first quarter valued at about $25,000. Sterling Investment Advisors Ltd. bought a new stake in Kroger during the first quarter worth about $25,000. Doyle Wealth Management bought a new stake in Kroger during the fourth quarter worth about $26,000. Riverview Trust Co bought a new stake in Kroger during the fourth quarter worth about $26,000. Finally, Motco bought a new stake in Kroger during the first quarter worth about $28,000. Institutional investors own 80.15% of the company’s stock.
Kroger Company Profile
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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