The Kroger Co (KR) was Initiated by Piper Jaffray to “Underweight” and the brokerage firm has set the Price Target at $29. Piper Jaffray advised their investors in a research report released on May 10, 2016.
Many Wall Street Analysts have commented on The Kroger Co. Sun Trust Rbsn Humphrey Initiated The Kroger Co on May 3, 2016 to “Neutral”, Price Target of the shares are set at $39.Shares were Reiterated by Pivotal Research Group on Mar 4, 2016 to “Buy” and Lowered the Price Target to $ 44 from a previous price target of $46 .The Kroger Co was Downgraded by Macquarie to ” Underperform” on Mar 4, 2016.
On the company’s financial health, The Kroger Co reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Mar 3, 2016. Analyst had a consensus of $0.54. The company had revenue of $26165.00 million for the quarter, compared to analysts expectations of $26275.91 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.
The Kroger Co closed down -0.37 points or -1.06% at $34.55 with 50,42,737 shares getting traded on Friday. Post opening the session at $34.89, the shares hit an intraday low of $34.225 and an intraday high of $34.99 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Investors should note that on Mar 10, 2016, The Kroger Co announced a cash dividend of $0.1050. The company’s management has announced May 11, 2016 as the ex-dividend date and fixed the record date on May 13, 2016. The payable date has been fixed on Jun 1, 2016.
In a different news, on May 9, 2016, Christopher Conlon (Executive Vice President) sold 15,000 shares at $35.43 per share price. According to the SEC, on Apr 11, 2016, Ronald Sargent (director) sold 3,000 shares at $38.09 per share price. On Apr 7, 2016, Michael Joseph Donnelly (Executive Vice President) sold 10,000 shares at $39.00 per share price, according to the Form-4 filing with the securities and exchange commission.
The Kroger Co. (Kroger) operates retail food and drug stores multi-department stores jewelry stores and convenience stores throughout the United States. The Company also manufactures and processes some of the food for sale in its supermarkets. The Company operated either directly or through its subsidiaries approximately 2625 supermarkets and multi-department stores approximately 1330 of which had fuel centers. Approximately 48% of these supermarkets were operated in Company-owned facilities including some Company-owned buildings on leased land. The Company operates its 2640 supermarket and multi-department stores under banners including Kroger City Market Dillons Food 4 Less Fred Meyer Fry’s Harris Teeter Jay C King Soopers QFC Ralphs and Smith’s. Of these stores 1330 have fuel centers. The Company also operates 782 convenience stores either directly or through franchisees 326 fine jewelry stores and an online retailer.