Northcoast Research Comments on Kroger Co’s Q2 2019 Earnings (KR)

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Kroger Co (NYSE:KR) – Equities research analysts at Northcoast Research reduced their Q2 2019 earnings per share (EPS) estimates for shares of Kroger in a report issued on Monday, June 25th. Northcoast Research analyst C. Cerankosky now anticipates that the company will earn $0.39 per share for the quarter, down from their previous forecast of $0.44. Northcoast Research also issued estimates for Kroger’s Q4 2019 earnings at $0.55 EPS and FY2019 earnings at $2.15 EPS.

KR has been the topic of a number of other reports. ValuEngine lowered Kroger from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Loop Capital set a $25.00 target price on Kroger and gave the company a “hold” rating in a research report on Monday, March 26th. Bank of America cut their target price on Kroger from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, March 9th. Zacks Investment Research upgraded Kroger from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, March 2nd. Finally, Credit Suisse Group assumed coverage on Kroger in a research report on Tuesday, April 17th. They set an “outperform” rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kroger has an average rating of “Hold” and an average price target of $28.20.

Shares of NYSE KR opened at $29.00 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.29 and a debt-to-equity ratio of 1.74. Kroger has a one year low of $19.69 and a one year high of $31.45. The firm has a market capitalization of $23.87 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.23 and a beta of 1.03.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, June 21st. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Kroger had a return on equity of 29.59% and a net margin of 2.93%. The firm had revenue of $37.53 billion for the quarter, compared to analyst estimates of $37.25 billion. During the same period in the prior year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis.

Kroger announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in KR. Victory Capital Management Inc. lifted its position in shares of Kroger by 12,471.3% during the 1st quarter. Victory Capital Management Inc. now owns 8,414,351 shares of the company’s stock worth $201,439,000 after buying an additional 8,347,418 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Kroger during the 4th quarter worth $89,873,000. Alliancebernstein L.P. lifted its position in shares of Kroger by 70.1% during the 4th quarter. Alliancebernstein L.P. now owns 4,645,757 shares of the company’s stock worth $127,526,000 after buying an additional 1,914,070 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Kroger by 24.5% during the 1st quarter. Prudential Financial Inc. now owns 7,213,094 shares of the company’s stock worth $172,681,000 after buying an additional 1,418,027 shares during the last quarter. Finally, Manikay Partners LLC lifted its position in shares of Kroger by 50.0% during the 4th quarter. Manikay Partners LLC now owns 3,000,000 shares of the company’s stock worth $82,350,000 after buying an additional 1,000,000 shares during the last quarter. Institutional investors and hedge funds own 81.21% of the company’s stock.

About Kroger

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

Earnings History and Estimates for Kroger (NYSE:KR)

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