The Kroger Co. to Post Q3 2023 Earnings of $0.86 Per Share, Jefferies Financial Group Forecasts (NYSE:KR)

The Kroger Co. (NYSE:KRGet Rating) – Jefferies Financial Group lifted their Q3 2023 earnings per share estimates for shares of Kroger in a report released on Wednesday, September 14th. Jefferies Financial Group analyst M. Fishbein now forecasts that the company will earn $0.86 per share for the quarter, up from their previous estimate of $0.80. The consensus estimate for Kroger’s current full-year earnings is $4.06 per share. Jefferies Financial Group also issued estimates for Kroger’s Q4 2023 earnings at $0.89 EPS, Q1 2024 earnings at $1.44 EPS, Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.86 EPS and Q4 2024 earnings at $1.07 EPS.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their price target on Kroger from $41.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, September 12th. UBS Group upped their price target on shares of Kroger to $57.00 in a report on Tuesday, September 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kroger from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, September 13th. StockNews.com cut shares of Kroger from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 12th. Finally, Evercore ISI upped their price objective on shares of Kroger from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Monday, September 12th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.89.

Kroger Stock Performance

KR opened at $47.28 on Monday. The company has a market capitalization of $33.83 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.00 and a beta of 0.47. The business’s 50-day moving average price is $47.92 and its two-hundred day moving average price is $51.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.72 and a quick ratio of 0.28. Kroger has a 1 year low of $38.22 and a 1 year high of $62.78.

Kroger (NYSE:KRGet Rating) last issued its earnings results on Friday, September 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $34.64 billion during the quarter, compared to analysts’ expectations of $34.44 billion. Kroger had a return on equity of 31.72% and a net margin of 1.70%. Kroger’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS.

Institutional Investors Weigh In On Kroger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KR. Federated Hermes Inc. grew its position in shares of Kroger by 11.5% in the 2nd quarter. Federated Hermes Inc. now owns 583,458 shares of the company’s stock worth $27,615,000 after buying an additional 60,390 shares during the last quarter. Private Trust Co. NA purchased a new stake in Kroger during the 2nd quarter worth approximately $80,000. Hussman Strategic Advisors Inc. acquired a new stake in Kroger during the 2nd quarter valued at approximately $1,221,000. Royal London Asset Management Ltd. lifted its stake in shares of Kroger by 3.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 268,636 shares of the company’s stock valued at $12,719,000 after purchasing an additional 10,021 shares during the period. Finally, Verition Fund Management LLC raised its position in Kroger by 172.0% during the second quarter. Verition Fund Management LLC now owns 60,241 shares of the company’s stock worth $2,851,000 after acquiring an additional 38,095 shares during the period. Institutional investors own 79.05% of the company’s stock.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.04 annualized dividend and a dividend yield of 2.20%. Kroger’s dividend payout ratio (DPR) is presently 31.61%.

About Kroger

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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.

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Earnings History and Estimates for Kroger (NYSE:KR)

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