The Kroger Co. (NYSE:KR - Get Free Report)'s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $65.52, but opened at $68.21. Kroger shares last traded at $70.06, with a volume of 4,229,876 shares.
The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. Kroger had a net margin of 1.81% and a return on equity of 28.17%. The firm had revenue of $45.12 billion for the quarter, compared to the consensus estimate of $45.35 billion. During the same quarter in the previous year, the company earned $1.43 earnings per share. The business's revenue was down .3% compared to the same quarter last year.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Kroger from $65.00 to $71.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Evercore ISI reduced their target price on shares of Kroger from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday. Telsey Advisory Group reiterated an "outperform" rating and set a $73.00 target price on shares of Kroger in a research report on Friday. Melius Research raised shares of Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Melius raised shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective for the company in a report on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $68.11.
Read Our Latest Report on Kroger
Insiders Place Their Bets
In related news, EVP Christine S. Wheatley sold 30,000 shares of Kroger stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $69.44, for a total transaction of $2,083,200.00. Following the transaction, the executive vice president now owns 127,737 shares of the company's stock, valued at $8,870,057.28. This trade represents a 19.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian W. Nichols sold 1,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $72.03, for a total transaction of $72,030.00. Following the completion of the sale, the vice president now directly owns 10,473 shares of the company's stock, valued at $754,370.19. The trade was a 8.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 111,679 shares of company stock valued at $7,865,706. 0.44% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Kroger
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Kroger during the 4th quarter worth $598,390,000. Steadfast Capital Management LP bought a new stake in shares of Kroger in the fourth quarter worth about $277,989,000. Junto Capital Management LP bought a new stake in shares of Kroger in the fourth quarter worth about $264,207,000. Wellington Management Group LLP raised its position in shares of Kroger by 85.3% during the first quarter. Wellington Management Group LLP now owns 6,397,771 shares of the company's stock worth $433,065,000 after purchasing an additional 2,945,848 shares during the period. Finally, Nuveen LLC bought a new position in shares of Kroger during the 1st quarter valued at about $178,385,000. 80.93% of the stock is owned by institutional investors.
Kroger Price Performance
The company has a 50-day moving average of $68.81 and a 200-day moving average of $65.12. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.52 and a current ratio of 0.96. The firm has a market capitalization of $46.26 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.96 and a beta of 0.58.
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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