Thursday, 14 December, 2017

Kroger Solid Earnings Beat a Sign of Things to Come?

NATION-NOW     Kroger rebounds with a $397M profit     
       Kroger rebounds with a $397M profit NATION-NOW Kroger rebounds with a $397M profit Kroger rebounds with a $397M profit
Mandy Jefferson | 02 December, 2017, 00:34

The company has also been ramping up its e-commerce efforts in the wake of Amazon's recent acquisition of Whole Foods Market. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Kroger by 497.2% in the 2nd quarter.

Kroger said total sales increased 4.5 percent in the quarter, pushing its fiscal third-quarter earnings to $397 million, better than the $391 million for the same quarter a year ago. For the fourth quarter, Kroger expects identical supermarket sales growth to exceed 1.1%, i.e., improve from this quarter. Fisher Asset Management LLC now owns 214,609 shares of the company's stock worth $5,005,000 after acquiring an additional 2,111 shares during the last quarter. The institutional investor owned 11,502 shares of the company's stock after selling 2,947 shares during the period. Finally, North Star Investment Management Corp. grew its position in shares of Kroger Company (The) by 31.1% in the second quarter. CWM LLC now owns 5,213 shares of the company's stock worth $122,000 after acquiring an additional 4,800 shares during the last quarter. Credit Suisse Group AG set a $33.00 target price on shares of Kroger and gave the company a "hold" rating in a report on Thursday, March 2nd. BidaskClub upgraded shares of Kroger from a hold rating to a buy rating in a research report on Wednesday, August 9th. Oppenheimer Holdings Inc. restated an "outperform" rating and issued a $38.00 target price (up from $36.00) on shares of Kroger in a report on Wednesday, February 22nd. Kroger now has an average rating of "Hold" and a consensus target price of $36.05. Stephens started coverage on Kroger in a research report on Friday, August 11th. Nineteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock.

Shares of Kroger Co (NYSE:KR) opened at 29.12 on Wednesday. 3,371,541 shares of the company were exchanged, compared to its average volume of 12,108,404. This marked a 12% increase over last quarter, and the highest profits the company has earned so far this year. The firm has a market cap of $20,957.14, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Trump renews barb at North Korean leader; Russian Federation accuses U.S. of provocation
The United States, which has 28,500 troops in South Korea as a legacy of the 1950-53 Korean War, denies any such intention. Vassily Nebenzia told an emergency meeting of the U.N.


Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, November 30th. The FactSet consensus was for EPS of 40 cents, sales of $27.484 billion and same-store sales growth of 0.9%. The business had revenue of $27.75 billion for the quarter, compared to analyst estimates of $27.48 billion.

Highlights from the report include a 30 basis point improvement in gross margins to 22.4%, along with the increase in digital revenue from Kroger's ClickList service. During the same period in the prior year, the firm posted $0.57 EPS. The company confirmed its guidance for the 53 week fiscal year of of $1.74 to $1.79 per share and adjusted earnings per share of $2 to $2.05.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, May 15th will be given a dividend of $0.12 per share.

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