Kroger (NYSE:KR) Updates FY 2022 Earnings Guidance

Kroger (NYSE:KRGet Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share guidance of $3.95-$4.05 for the period, compared to the consensus earnings per share estimate of $3.96. The company issued revenue guidance of -.

Kroger Price Performance

NYSE KR traded down $0.80 on Friday, hitting $44.70. 304,743 shares of the company were exchanged, compared to its average volume of 6,295,270. The firm has a 50 day moving average of $47.81 and a two-hundred day moving average of $51.38. The company has a market cap of $32.00 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.96 and a beta of 0.47. The company has a current ratio of 0.72, a quick ratio of 0.28 and a debt-to-equity ratio of 1.30. Kroger has a 1-year low of $38.22 and a 1-year high of $62.78.

Kroger (NYSE:KRGet Rating) last announced its quarterly earnings data on Friday, September 9th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.06. The firm 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%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. On average, equities analysts predict that Kroger will post 4.06 EPS for the current year.

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.33%. Kroger’s dividend payout ratio (DPR) is presently 31.61%.

Analyst Ratings Changes

A number of research firms recently issued reports on KR. UBS Group increased their target price on Kroger to $57.00 in a research note on Tuesday, September 13th. Morgan Stanley increased their target price on Kroger from $41.00 to $43.00 and gave the stock an underweight rating in a research note on Monday, September 12th. MKM Partners increased their target price on Kroger from $48.00 to $55.00 in a research note on Tuesday, June 21st. Oppenheimer lowered their target price on Kroger to $51.00 in a research note on Tuesday, September 6th. Finally, Guggenheim reissued a buy rating and set a $57.00 target price on shares of Kroger in a research note on Friday, June 17th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $52.89.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KR. Arrowstreet Capital Limited Partnership acquired a new position in Kroger during the first quarter worth about $71,410,000. Eaton Vance Management raised its stake in Kroger by 175.8% during the first quarter. Eaton Vance Management now owns 1,306,295 shares of the company’s stock worth $74,943,000 after acquiring an additional 832,615 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Kroger by 323.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 869,153 shares of the company’s stock worth $49,863,000 after purchasing an additional 663,901 shares during the last quarter. Cibc World Markets Corp grew its holdings in shares of Kroger by 1,097.0% during the first quarter. Cibc World Markets Corp now owns 288,748 shares of the company’s stock worth $16,565,000 after purchasing an additional 264,626 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Kroger by 83.0% during the first quarter. Federated Hermes Inc. now owns 523,068 shares of the company’s stock worth $30,009,000 after purchasing an additional 237,265 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

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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