Market Update (NYSE:KR): Kroger Names President of Smith’s

[PR Newswire] – CINCINNATI, April 6, 2016 /PRNewswire/ — The Kroger Co. (KR) today announced the promotion of Kenny Kimball, currently vice president of operations in the company’s Smith’s division, to serve as president of Smith’s, effective April 30. Mr. Kimball succeeds Jay Cummins, whose retirement was announced in February. “Kenny’s passion for developing associates and his commitment to putting our customers first will further accelerate growth in our important Smith’s division markets,” said Rodney McMullen, Kroger’s chairman and CEO. Read more on this. The Kroger Co. (KR) , with a current value of $37.61B, opened this morning at $38.22. A quick look at the market, the company’s stock traded between $38.22 and $39.22 with a trailing 52-week range being $27.32 to $42.75. KR shares are currently priced at 16.99x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 24.27x forward p/e ratio. And for dividend hunters, the company pays shareholders $0.42 per share annually in dividends, yielding 1.10%. According to a consensus of 24 analysts, the earnings estimate of $0.69 per share would be $0.06 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $2.25 which would be a $0.19 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $34.81 Billion. If realized, that would be a 5.33% increase over the year-ago quarter. Recently, Macquarie downgraded KR from Neutral to Underperform (Mar 4, 2016). Previously, Stifel Initiated KR at to Buy. The average price target for KR shares by the analysts covering the stock is $43.27, which is 13.21% above where the stock opened this morning. See more in (NYSE:KR) Similar Articles: Stock Update: The Kroger Co (NYSE:KR) – Kroger to Participate in the TAG Spring Consumer Conference Stock Update: The Kroger Co (NYSE:KR) – Kroger Completes Tender Offer of Shares of Roundy’s Market Update: The Kroger Co (NYSE:KR) – Kroger’s Carbon Disclosure Project Score Improves 48%