The Kroger Co. (NYSE:KR - Get Free Report) hit a new 52-week high during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $74.11 and last traded at $73.72, with a volume of 2446107 shares traded. The stock had previously closed at $71.97.
The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Kroger had a return on equity of 30.01% and a net margin of 1.76%. The firm had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. During the same quarter in the prior year, the business posted $1.43 earnings per share. Kroger's revenue for the quarter was down .3% on a year-over-year basis.
Kroger Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio (DPR) is presently 34.88%.
Analysts Set New Price Targets
A number of research analysts have commented on KR shares. UBS Group reiterated a "neutral" rating and set a $74.00 price objective (up from $66.00) on shares of Kroger in a research note on Monday. Telsey Advisory Group reiterated an "outperform" rating and issued a $82.00 price target (up from $73.00) on shares of Kroger in a research note on Friday, June 20th. Jefferies Financial Group set a $83.00 price objective on Kroger and gave the company a "buy" rating in a research note on Monday. Melius upgraded Kroger from a "sell" rating to a "hold" rating and set a $70.00 target price for the company in a research report on Tuesday, May 20th. Finally, Wall Street Zen upgraded Kroger from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.
Read Our Latest Analysis on Kroger
Insider Activity at Kroger
In other Kroger news, EVP Gabriel Arreaga sold 37,960 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $72.44, for a total value of $2,749,822.40. Following the completion of the sale, the executive vice president now directly owns 75,218 shares in the company, valued at $5,448,791.92. This represents a 33.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Valerie L. Jabbar sold 31,271 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $69.08, for a total transaction of $2,160,200.68. Following the sale, the senior vice president now directly owns 82,684 shares of the company's stock, valued at approximately $5,711,810.72. This represents a 27.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 245,753 shares of company stock worth $17,688,180 in the last three months. 0.44% of the stock is owned by company insiders.
Institutional Trading of Kroger
A number of hedge funds have recently bought and sold shares of KR. Millstone Evans Group LLC acquired a new stake in shares of Kroger during the fourth quarter valued at approximately $25,000. Accent Capital Management LLC acquired a new stake in Kroger during the 1st quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in shares of Kroger in the fourth quarter valued at $26,000. TCTC Holdings LLC acquired a new stake in shares of Kroger in the fourth quarter worth $27,000. Finally, Transce3nd LLC purchased a new position in shares of Kroger during the fourth quarter valued at $28,000. 80.93% of the stock is owned by hedge funds and other institutional investors.
Kroger Stock Down 1.3%
The firm has a 50-day moving average of $69.15 and a two-hundred day moving average of $65.47. The stock has a market capitalization of $47.09 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 2.15 and a beta of 0.58. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92.
About Kroger
(
Get Free Report)
The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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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