AI Sentiment: Bullish
Reason: Despite the sale of shares by Kroger's senior VP, the company reported strong earnings per share for the quarter, beating the consensus estimate. The company's revenue for the quarter was also up compared to the same quarter last year.
Kroger's Senior Vice President, Stephen M. McKinney, recently sold company shares worth approximately $8.4 million. The company's shares were sold at an average price of $62.70, totaling 134,400 shares. Following the completion of the transaction, McKinney now owns 121,383 shares of the company’s stock, valued at approximately $7.6 million.
This move comes in the wake of the company’s recent earnings report, where Kroger reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had a return on equity of 21.37% and a net margin of 1.96%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year.
Several analysts have recently commented on the company shares. The stock has received a consensus rating of "Hold" from twenty-eight ratings firms that are currently covering the stock. Out of these, two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have given a buy rating, and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $66.24.
It's worth noting that Kroger is one of the world's largest retailers, serving millions of customers every week from its numerous stores across the country. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores throughout the United States. It also manufactures and processes some of the food for sale in its supermarkets.
In conclusion, the sale of shares by Stephen M. McKinney represents a noteworthy transaction within the company, but it does not necessarily imply a negative or positive sentiment towards the company’s stock. Investors and shareholders will be watching closely to see how Kroger performs in the coming quarters.