The Kroger Co. (NYSE:KR) to Post Q1 2023 Earnings of $1.31 Per Share, Jefferies Financial Group Forecasts

The Kroger Co. (NYSE:KRGet Rating) – Jefferies Financial Group increased their Q1 2023 earnings estimates for Kroger in a report issued on Wednesday, May 11th. Jefferies Financial Group analyst M. Fishbein now forecasts that the company will post earnings of $1.31 per share for the quarter, up from their previous estimate of $0.99. Jefferies Financial Group also issued estimates for Kroger’s Q4 2023 earnings at $0.95 EPS, FY2023 earnings at $3.83 EPS, Q1 2024 earnings at $1.25 EPS, Q2 2024 earnings at $0.70 EPS, Q3 2024 earnings at $0.76 EPS, Q4 2024 earnings at $1.08 EPS and FY2025 earnings at $3.38 EPS.

Kroger (NYSE:KRGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.17. The company had revenue of $33.05 billion for the quarter, compared to analysts’ expectations of $32.66 billion. Kroger had a net margin of 1.20% and a return on equity of 29.97%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS.

A number of other research firms have also recently issued reports on KR. Telsey Advisory Group increased their price objective on shares of Kroger from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, April 7th. Credit Suisse Group increased their price objective on shares of Kroger from $47.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, March 4th. Scotiabank upped their target price on shares of Kroger from $60.00 to $64.00 in a report on Thursday, March 10th. StockNews.com assumed coverage on shares of Kroger in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Kroger from $44.00 to $45.00 in a report on Friday, February 25th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Kroger currently has a consensus rating of “Hold” and an average price target of $50.95.

KR stock opened at $53.39 on Monday. The stock has a market capitalization of $38.49 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.46 and a beta of 0.49. The company’s 50-day moving average is $56.49 and its 200-day moving average is $49.10. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.33. Kroger has a 1 year low of $35.91 and a 1 year high of $62.78.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Kroger by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 81,040,589 shares of the company’s stock worth $4,649,299,000 after buying an additional 2,062,188 shares during the period. Renaissance Technologies LLC boosted its holdings in Kroger by 4.7% in the 3rd quarter. Renaissance Technologies LLC now owns 18,571,771 shares of the company’s stock worth $750,857,000 after buying an additional 840,200 shares during the period. Capital World Investors boosted its holdings in Kroger by 24.8% in the 4th quarter. Capital World Investors now owns 15,666,470 shares of the company’s stock worth $709,064,000 after buying an additional 3,112,175 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Kroger by 0.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 6,564,640 shares of the company’s stock worth $297,116,000 after buying an additional 33,929 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Kroger by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 5,985,874 shares of the company’s stock worth $343,408,000 after buying an additional 20,085 shares during the period. 81.52% of the stock is owned by institutional investors.

In related news, CFO Gary Millerchip sold 44,976 shares of the firm’s stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $56.28, for a total value of $2,531,249.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christine S. Wheatley sold 115,869 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $55.49, for a total transaction of $6,429,570.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 432,968 shares of company stock valued at $24,877,771. 1.35% of the stock is currently owned by company insiders.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. Kroger’s payout ratio is currently 38.53%.

About Kroger (Get Rating)

The Kroger Co operates as a 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.

See Also

Earnings History and Estimates for Kroger (NYSE:KR)

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