Kroger (NYSE:KR) Releases Earnings Results, Beats Expectations By $0.19 EPS

Kroger (NYSE:KR) issued its earnings results on Friday. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19, MarketWatch Earnings reports. The business had revenue of $30.49 billion for the quarter, compared to analyst estimates of $30.03 billion. Kroger had a net margin of 1.66% and a return on equity of 24.62%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. Kroger updated its FY 2020
Pre-Market guidance to 3.20-3.30 EPS and its FY21 guidance to $3.20-3 EPS.

Shares of NYSE:KR opened at $34.37 on Friday. The firm’s 50 day moving average is $35.33 and its two-hundred day moving average is $32.93. Kroger has a 52 week low of $23.71 and a 52 week high of $37.22. The firm has a market capitalization of $27.03 billion, a P/E ratio of 12.87, a PEG ratio of 2.20 and a beta of 0.31. The company has a current ratio of 0.83, a quick ratio of 0.40 and a debt-to-equity ratio of 1.33.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.88 annualized dividend and a dividend yield of 8.38%. This is a positive change from Kroger’s previous quarterly dividend of $0.16. Kroger’s dividend payout ratio (DPR) is presently 32.73%.

In other Kroger news, Director Bobby S. Shackouls sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $36.00, for a total value of $360,000.00. Following the sale, the director now owns 24,845 shares in the company, valued at $894,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO W Rodney Mcmullen sold 85,381 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $31.97, for a total transaction of $2,729,630.57. Following the completion of the sale, the chief executive officer now owns 3,097,481 shares in the company, valued at approximately $99,026,467.57. The disclosure for this sale can be found here. Insiders sold 256,797 shares of company stock worth $8,632,086 in the last 90 days. 1.34% of the stock is owned by company insiders.

KR has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of Kroger from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, June 15th. Telsey Advisory Group upped their target price on shares of Kroger from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Kroger from a “buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research note on Tuesday, August 11th. Wells Fargo & Company upped their target price on shares of Kroger from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, MKM Partners started coverage on shares of Kroger in a research note on Wednesday, July 29th. They issued a “neutral” rating and a $40.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. Kroger presently has a consensus rating of “Hold” and a consensus price target of $34.95.

About Kroger

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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Earnings History for Kroger (NYSE:KR)

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