The Kroger Co. (NYSE:KR – Get Rating) – Stock analysts at Oppenheimer cut their Q2 2023 earnings estimates for shares of Kroger in a research note issued to investors on Thursday, June 16th. Oppenheimer analyst R. Parikh now expects that the company will earn $0.80 per share for the quarter, down from their prior forecast of $0.81. The consensus estimate for Kroger’s current full-year earnings is $3.91 per share. Oppenheimer also issued estimates for Kroger’s Q3 2023 earnings at $0.76 EPS, FY2023 earnings at $3.90 EPS and FY2024 earnings at $4.10 EPS.
KR has been the subject of several other research reports. Bank of America raised shares of Kroger from a “neutral” rating to a “buy” rating and increased their price target for the company from $61.00 to $75.00 in a research report on Friday, April 8th. BMO Capital Markets raised their price objective on shares of Kroger from $41.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Kroger from $44.00 to $45.00 in a research note on Friday, February 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kroger from $50.00 to $53.00 in a research report on Friday. Finally, Scotiabank lifted their price target on shares of Kroger from $60.00 to $64.00 in a report on Thursday, March 10th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.83.
Kroger (NYSE:KR – Get Rating) last released its earnings results on Thursday, June 16th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.27 by $0.18. Kroger had a net margin of 1.54% and a return on equity of 31.50%. During the same quarter last year, the company posted $1.19 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Kroger in the first quarter worth about $38,000. J.W. Cole Advisors Inc. acquired a new position in shares of Kroger during the 1st quarter worth about $204,000. American Trust acquired a new position in Kroger in the 1st quarter valued at approximately $225,000. Astoria Portfolio Advisors LLC. acquired a new position in Kroger in the 1st quarter valued at approximately $228,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Kroger by 30.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,196 shares of the company’s stock valued at $69,000 after acquiring an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.
In other Kroger news, SVP Yael Cosset sold 34,812 shares of Kroger stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $59.50, for a total transaction of $2,071,314.00. Following the sale, the senior vice president now owns 162,207 shares of the company’s stock, valued at approximately $9,651,316.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy A. Massa sold 50,283 shares of the business’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $58.03, for a total value of $2,917,922.49. Following the completion of the sale, the senior vice president now directly owns 163,956 shares in the company, valued at approximately $9,514,366.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,071 shares of company stock valued at $7,520,486. 1.35% of the stock is owned by insiders.
Kroger Company Profile (Get Rating)
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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