Wednesday, 23 May, 2018

Kroger Profit Slips 8% Amid Discounting War

With Shares Trading down at $22.34 (KR) Kroger Announces Retirement of Jayne… The Kroger Co. (KR) added to 108 new portfolios
Preston Stone | 09 September, 2017, 12:51

During the last month, the stock has changed 0.28% and performed 7.16% over the last 6 months. The stock had previously closed at $22.77. Vaughan David Investments Il stated it has 0.9% in Kroger Co (NYSE:KR). The average analysts gave this company a mean recommendation of 2.90. Excluding one-time charges, Kroger's earnings-per-share came in at 47 cents in the second quarter of 2016. Deutsche Bank AG restated a "buy" rating on shares of Kroger Company (The) in a research note on Friday, May 12th. Whereas 8 of them predict the stock is a hold. The company maintains price to book ratio of 0.00vs.an industry average at 0.61. The company has a 50-day moving average of $23.19 and a 200-day moving average of $27.01. Kroger Company (The) also saw some unusual options trading on Thursday. This is an increase of approximately 607% compared to the typical daily volume of 4,485 put options.

Kroger Company (The) (NYSE:KR) last issued its earnings results on Thursday, June 15th.

As for guidance, Kroger confirms 2017 net earnings guidance for 53 weeks of $1.74-$1.79 per diluted share. The company had revenue of $27.60 billion for the quarter, compared to analyst estimates of $27.48 billion.

Shares of Kroger have tumbled 9.9% to $20.51 at 1:05 p.m. today, a new three-and-a-half-year low. Shareholders of record on Tuesday, August 15th were paid a $0.125 dividend. The ex-dividend date was set for Friday the 11th of August 2017. This dividend represents a yield of $2.22. The value of the company's investment in Kroger Company (The) went from $191,534,000 to $174,452,000 decreasing 8.9% quarter over quarter.

Kroger Company (The) declared that its board has authorized a share repurchase plan on Thursday, June 22nd that permits the company to repurchase $1.00 billion in outstanding shares. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

In related news, insider J Michael Schlotman bought 2,000 shares of the firm's stock in a transaction on Monday, June 26th. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan M. Phillips sold 6,200 shares of the business's stock in a transaction on Friday, June 16th. The stock was sold at an average price of $21.17, for a total value of $131,254.00. Following the sale, the director now owns 124,105 shares in the company, valued at $2,627,302.85.

West Nile Virus, EEE still present in Oswego County after aerial spraying
State health officials say a Bristol County man is hospitalized with the first confirmed human case of West Nile Virus this year. More severe symptoms include muscle weakness, stiff neck, disorientation, convulsions, paralysis, and coma.

Exane Derivatives expanded its ownership by buying 14,104 shares an increase of 352,600.0%.

Analysts have weighed in on KR recently. Kroger Company (The) also was the recipient of some unusual options trading on Early Thur. clients purchased 31,730 bearish put options on the stock. BlackRock Inc. now owns 72,026,662 shares of the company's stock worth $2,124,067,000 after acquiring an additional 69,929,316 shares during the last quarter. Advantage Investment Management LLC raised its position in Kroger Company (The) by 15.8% in the first quarter. Dupont Capital Management Corp purchased a new position in Kroger Company (The) in the second quarter valued at about $105,000. This is a positive change from Kroger Company (The)'s previous quarterly dividend of $0.12. Closing price generally refers to the last price at which a stock trades during a regular trading session. FMR LLC lifted its position in Kroger Company (The) by 54.1% during the 1st quarter.

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However, Food Dive noted that Kroger's price cuts, while painful, "have helped the grocer grow its market share in a very competitive environment, and are seen by analysts as a necessary step".

Kroger, which operates almost 2,800 USA food stores, has cut prices to fend off competition from Wal-Mart Stores Inc, discounters Lidl and Aldi and the newly merged Amazon.com and Whole Foods Market.

The grocer its full-year earnings guidance of US$1.74 to US$1.79 and adjusted EPS guidance in the range of US$2.00 to US$2.05.

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