Kroger (NYSE:KR) Announces Quarterly Earnings Results

Kroger (NYSE:KR) released its earnings results on Thursday. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02, Briefing.com reports. The business had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. Kroger updated its FY 2024 guidance to 4.300-4.500 EPS and its FY25 guidance to $4.30-4.50 EPS.

Kroger Price Performance

NYSE KR opened at $55.91 on Friday. Kroger has a 12-month low of $42.10 and a 12-month high of $58.34. The firm’s fifty day simple moving average is $53.38 and its two-hundred day simple moving average is $53.62. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $40.36 billion, a P/E ratio of 19.08, a P/E/G ratio of 0.80 and a beta of 0.47.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.29%. This is an increase from Kroger’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, August 15th. Kroger’s dividend payout ratio (DPR) is 43.69%.

Wall Street Analyst Weigh In

KR has been the topic of a number of research reports. StockNews.com raised shares of Kroger from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Wolfe Research raised Kroger to a “strong-buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. lifted their price objective on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI increased their target price on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BMO Capital Markets upgraded shares of Kroger from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $58.00 to $60.00 in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kroger currently has a consensus rating of “Moderate Buy” and an average target price of $59.09.

Insider Transactions at Kroger

In other news, VP Brian W. Nichols sold 2,000 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $54.53, for a total transaction of $109,060.00. Following the sale, the vice president now owns 18,063 shares in the company, valued at $984,975.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Kroger Company Profile

The Kroger Co operates as a food and drug 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.