$36.88 Billion in Sales Expected for Kroger Co (KR) This Quarter

Brokerages expect Kroger Co (NYSE:KR) to post $36.88 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Kroger’s earnings, with the highest sales estimate coming in at $37.03 billion and the lowest estimate coming in at $36.57 billion. Kroger posted sales of $37.53 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The company is scheduled to announce its next earnings report on Thursday, June 20th.

According to Zacks, analysts expect that Kroger will report full year sales of $122.14 billion for the current financial year, with estimates ranging from $121.46 billion to $122.76 billion. For the next financial year, analysts expect that the business will report sales of $125.60 billion, with estimates ranging from $124.43 billion to $127.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Kroger.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Kroger had a net margin of 2.57% and a return on equity of 23.50%. The firm had revenue of $28.09 billion for the quarter, compared to analyst estimates of $28.38 billion. During the same period last year, the company earned $0.63 EPS. The company’s revenue was down 9.5% compared to the same quarter last year.

Several equities analysts have recently issued reports on KR shares. Scotiabank set a $32.00 price target on Kroger and gave the company a “buy” rating in a research note on Friday, March 8th. Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, February 5th. Morgan Stanley cut their price target on Kroger from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, March 8th. ValuEngine raised Kroger from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $26.00 price target (down previously from $31.00) on shares of Kroger in a research note on Friday, March 8th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $30.33.

Shares of KR traded down $0.15 during trading hours on Friday, hitting $24.07. 9,353,900 shares of the stock traded hands, compared to its average volume of 7,844,131. The company has a quick ratio of 0.28, a current ratio of 0.76 and a debt-to-equity ratio of 1.54. Kroger has a 1-year low of $23.52 and a 1-year high of $32.74. The firm has a market capitalization of $19.54 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.46 and a beta of 0.64.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, May 14th. Kroger’s payout ratio is 26.54%.

In other Kroger news, Director Robert D. Beyer sold 80,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $24.52, for a total value of $1,961,600.00. Following the completion of the sale, the director now directly owns 126,800 shares in the company, valued at $3,109,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Joseph Donnelly sold 10,916 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $25.83, for a total value of $281,960.28. Following the completion of the sale, the vice president now owns 351,095 shares of the company’s stock, valued at $9,068,783.85. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock worth $2,694,175 in the last three months. Insiders own 1.07% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Lavaca Capital LLC bought a new stake in shares of Kroger in the first quarter worth about $25,000. Sterling Investment Advisors Ltd. bought a new stake in shares of Kroger in the first quarter worth about $25,000. Doyle Wealth Management bought a new stake in shares of Kroger in the fourth quarter worth about $26,000. Riverview Trust Co bought a new stake in shares of Kroger in the fourth quarter worth about $26,000. Finally, Motco bought a new stake in shares of Kroger in the first quarter worth about $28,000. Institutional investors own 83.32% of the company’s stock.

Kroger Company Profile

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.

Further Reading: Initial Public Offering (IPO)

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Earnings History and Estimates for Kroger (NYSE:KR)

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