The Kroger Co. (NYSE:KR) to Post FY2022 Earnings of $3.30 Per Share, Oppenheimer Forecasts

The Kroger Co. (NYSE:KR) – Research analysts at Oppenheimer boosted their FY2022 earnings per share estimates for shares of The Kroger in a report issued on Friday, September 10th. Oppenheimer analyst R. Parikh now forecasts that the company will post earnings per share of $3.30 for the year, up from their previous forecast of $3.05. Oppenheimer also issued estimates for The Kroger’s FY2023 earnings at $3.40 EPS.

The Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, September 9th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. The Kroger had a net margin of 0.87% and a return on equity of 28.26%. The business had revenue of $31.68 billion for the quarter, compared to the consensus estimate of $30.69 billion. During the same quarter last year, the firm earned $0.73 EPS. The Kroger’s revenue for the quarter was up 3.9% on a year-over-year basis.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley boosted their price objective on The Kroger from $29.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, July 1st. Northcoast Research upped their price target on The Kroger from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, September 7th. MKM Partners raised their price objective on shares of The Kroger from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group upped their target price on shares of The Kroger from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, June 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of The Kroger from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, June 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, The Kroger currently has an average rating of “Hold” and an average target price of $38.28.

KR opened at $41.79 on Monday. The company has a market cap of $31.23 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.54 and a beta of 0.39. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.38 and a current ratio of 0.82. The stock has a 50-day moving average of $42.67 and a 200-day moving average of $39.04. The Kroger has a 52-week low of $30.35 and a 52-week high of $47.99.

Several hedge funds and other institutional investors have recently modified their holdings of KR. Stonebridge Capital Advisors LLC bought a new stake in shares of The Kroger during the first quarter worth approximately $25,000. Selective Wealth Management Inc. grew its holdings in The Kroger by 62.5% during the 2nd quarter. Selective Wealth Management Inc. now owns 780 shares of the company’s stock worth $30,000 after acquiring an additional 300 shares during the period. Total Clarity Wealth Management Inc. acquired a new position in shares of The Kroger in the 1st quarter valued at $29,000. Meridian Wealth Partners LLC bought a new position in shares of The Kroger in the 1st quarter worth $31,000. Finally, Accel Wealth Management grew its stake in shares of The Kroger by 43.5% during the second quarter. Accel Wealth Management now owns 907 shares of the company’s stock worth $35,000 after purchasing an additional 275 shares during the period. 82.42% of the stock is currently owned by institutional investors.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were issued a $0.21 dividend. This is a positive change from The Kroger’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, August 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.01%. The Kroger’s dividend payout ratio is presently 24.21%.

The Kroger announced that its Board of Directors has approved a stock buyback plan on Thursday, June 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are 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 and Estimates for The Kroger (NYSE:KR)

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