The Kroger (NYSE:KR) Issues Earnings Results, Beats Expectations By $0.16 EPS

The Kroger (NYSE:KR) issued its quarterly earnings data on Friday. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16, Briefing.com reports. The Kroger had a net margin of 1.14% and a return on equity of 27.82%. The business had revenue of $31.68 billion during the quarter, compared to the consensus estimate of $30.69 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. The Kroger updated its FY 2021 guidance to $3.250-$3.350 EPS and its FY22 guidance to $3.25-3.35 EPS.

KR opened at $44.56 on Friday. The Kroger has a 52 week low of $30.35 and a 52 week high of $47.99. The business has a fifty day simple moving average of $42.40 and a 200-day simple moving average of $38.75. The firm has a market cap of $33.30 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.79 and a beta of 0.39. The company has a quick ratio of 0.38, a current ratio of 0.82 and a debt-to-equity ratio of 1.41.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were given a dividend of $0.21 per share. This is a positive change from The Kroger’s previous quarterly dividend of $0.18. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, August 12th. The Kroger’s dividend payout ratio (DPR) is currently 24.21%.

In other news, VP Carin L. Fike sold 1,145 shares of the stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $38.30, for a total value of $43,853.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Calvin J. Kaufman sold 14,425 shares of the stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $39.51, for a total value of $569,931.75. Following the completion of the sale, the senior vice president now owns 272,963 shares in the company, valued at $10,784,768.13. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

KR has been the topic of several research analyst reports. UBS Group raised their price objective on The Kroger from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, June 18th. MKM Partners boosted their price target on shares of The Kroger from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, June 18th. Credit Suisse Group increased their price objective on shares of The Kroger from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 18th. Telsey Advisory Group upped their price target on shares of The Kroger from $39.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, June 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on The Kroger from $36.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, June 21st. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, The Kroger has a consensus rating of “Hold” and an average price target of $37.28.

The Kroger declared that its board has approved a stock repurchase program on Thursday, June 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About The Kroger

The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out…, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.

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Earnings History for The Kroger (NYSE:KR)

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