$36.92 Billion in Sales Expected for Kroger (KR) This Quarter

Equities research analysts forecast that Kroger (NYSE:KR) will report $36.92 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Kroger’s earnings, with the lowest sales estimate coming in at $36.26 billion and the highest estimate coming in at $37.42 billion. Kroger posted sales of $36.29 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The company is expected to announce its next quarterly earnings results on Thursday, June 21st.

According to Zacks, analysts expect that Kroger will report full-year sales of $121.06 billion for the current fiscal year, with estimates ranging from $120.04 billion to $124.57 billion. For the next fiscal year, analysts anticipate that the business will post sales of $124.39 billion per share, with estimates ranging from $122.32 billion to $128.02 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Kroger.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, March 8th. The company reported $0.63 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Kroger had a net margin of 1.55% and a return on equity of 29.27%. The company had revenue of $31.03 billion for the quarter, compared to the consensus estimate of $30.81 billion. During the same period in the prior year, the firm posted $0.53 EPS. Kroger’s revenue for the quarter was up 12.4% on a year-over-year basis.



Several brokerages recently commented on KR. Credit Suisse Group began coverage on shares of Kroger in a research report on Tuesday. They set an “outperform” rating and a $28.00 price objective on the stock. Loop Capital set a $25.00 price objective on shares of Kroger and gave the company a “hold” rating in a research report on Monday, March 26th. Zacks Investment Research downgraded shares of Kroger from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Jefferies Group set a $31.00 price objective on shares of Kroger and gave the company a “buy” rating in a research report on Monday, March 12th. Finally, Morgan Stanley set a $27.00 price objective on shares of Kroger and gave the company a “hold” rating in a research report on Monday, March 12th. Seventeen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Kroger has an average rating of “Hold” and a consensus target price of $27.17.

In other news, VP Todd A. Foley sold 3,800 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $24.43, for a total value of $92,834.00. Following the transaction, the vice president now owns 31,273 shares in the company, valued at approximately $763,999.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert W. Clark sold 11,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $29.57, for a total transaction of $325,270.00. Following the completion of the transaction, the insider now owns 130,780 shares in the company, valued at approximately $3,867,164.60. The disclosure for this sale can be found here. Insiders sold a total of 62,800 shares of company stock worth $1,888,824 in the last quarter. Company insiders own 0.85% of the company’s stock.

Several large investors have recently modified their holdings of KR. Dimensional Fund Advisors LP lifted its stake in shares of Kroger by 27.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,646,777 shares of the company’s stock worth $73,162,000 after purchasing an additional 776,276 shares during the period. Cubist Systematic Strategies LLC raised its stake in Kroger by 297.2% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 64,752 shares of the company’s stock worth $1,299,000 after acquiring an additional 48,448 shares during the period. Janney Montgomery Scott LLC raised its stake in Kroger by 45.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 78,519 shares of the company’s stock worth $1,575,000 after acquiring an additional 24,390 shares during the period. California Public Employees Retirement System raised its stake in Kroger by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 2,250,187 shares of the company’s stock worth $45,139,000 after acquiring an additional 32,549 shares during the period. Finally, Cetera Advisor Networks LLC raised its stake in Kroger by 30.2% during the 3rd quarter. Cetera Advisor Networks LLC now owns 20,168 shares of the company’s stock worth $406,000 after acquiring an additional 4,675 shares during the period. Hedge funds and other institutional investors own 75.69% of the company’s stock.

KR stock traded down $0.06 during trading on Friday, hitting $24.12. 16,221,106 shares of the stock traded hands, compared to its average volume of 7,733,870. Kroger has a 1 year low of $19.69 and a 1 year high of $31.45. The company has a market capitalization of $20,652.10, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.04. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.32 and a current ratio of 0.78.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, May 14th. Kroger’s dividend payout ratio (DPR) is presently 24.51%.

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Kroger Company Profile

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food for sale in its supermarkets. The company operates retail food and drug stores, 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.

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Earnings History and Estimates for Kroger (NYSE:KR)

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