Kroger (NYSE:KR) Updates FY 2024 Earnings Guidance

Kroger (NYSE:KR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.350-4.450 for the period, compared to the consensus earnings per share estimate of 4.440. The company issued revenue guidance of -. Kroger also updated its FY25 guidance to $4.35-4.45 EPS.

Kroger Stock Performance

KR opened at $59.24 on Friday. The stock’s 50 day simple moving average is $57.75 and its 200 day simple moving average is $54.57. The stock has a market cap of $42.86 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.93 and a beta of 0.48. Kroger has a 1-year low of $43.51 and a 1-year high of $61.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.87 and a quick ratio of 0.46.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The company had revenue of $33.63 billion during the quarter, compared to the consensus estimate of $34.19 billion. During the same quarter last year, the business posted $0.95 earnings per share. Kroger’s revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Kroger will post 4.45 EPS for the current fiscal year.

Kroger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.16%. Kroger’s dividend payout ratio is presently 33.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KR shares. Roth Mkm increased their target price on shares of Kroger from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Kroger from $59.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. Guggenheim upped their price objective on shares of Kroger from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Melius Research started coverage on Kroger in a research report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price on the stock. Finally, BMO Capital Markets cut shares of Kroger from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Insider Activity

In related news, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the sale, the senior vice president now directly owns 74,084 shares in the company, valued at approximately $4,142,036.44. This trade represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the transaction, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This trade represents a 32.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,932 shares of company stock worth $721,243. 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.