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Kroger

Kroger is one of the largest grocery retailers in the United States with more than 2,700 stores across a portfolio of over 20 supermarket banners. The company boasts an ingrained presence in US communities, citing that it is a top-two grocer in most of its major market areas. Over one fourth of Kroger's roughly $110 billion in nonperishable and fresh food sales (about 75% of revenue) stems from its private-label portfolio, of which the company manufactures about 30% of units via its 33 food production plants. The firm also operates fuel stations and pharmacies at 60% and 80% of its locations, respectively.

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밈 암호화폐인 도지코인(CRYPTO: DOGE)은 지난 한 주 동안 80% 이상 상승하며 52주 신고가를 경신하는 등 가격과 가치가 급등하고 있다.
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스피릿 항공(NYSE:SAVE)이 파산 신청을 고려 중이라는 소식이 퍼지자, 비판자들은 소셜 미디어를 통해 바이든 행정부를 비난했다. 그 이유는 무엇일까? 올해 1월, 미국 반독점 규제 당국이 제트블루 항공(NASDAQ:JBLU)의 38억 달러에 스피릿 인수를 차단한 사건을 기억해 보자. 실제로 지난 4년 동안, 규제 당국은 경쟁을 저해한다고 판단되는 인수합병 활동을 종종 저지해왔다. 예를 들어 크로거(NYSE:KR)와 앨버트슨(NYSE:ACI)의 250억 달러 규모 합병과 같은 사례가 있다.

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Berkshire Hathaway 13F Shows Increased Stake In American Express By 17% To 151.6M Shares, Now Worth $41.1B; Increased Stake In Kroger By 15% To 50M Shares, Worth $2.87B; Increased Stake In DaVita By 18%, Now Valued At $5.92B; Increased Stake In Moody's Corp By 13% To 24.67M Shares, Now Worth $11.71B

Kroger Announces Extension of Exchange Offers, Consent Solicitations For Albertsons Companies

Meme cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is soaring in price and valuation, up more than 80% in the past week and <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41876486/dogecoin-explodes-for-86-weekly-gain-what-is-going-on">setting new 52-week highs.</a>
With the latest push in valuation, Dogecoin passed the valuation of some well-known global companies.
What Happened: Dogecoin was created in 2013 by Jackson Palmer and Billy Markus, <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/36030223/if-you-invested-1-000-in-dogecoin-when-the-meme-coin-launched-heres-how-much-youd-have-now">meant as a joke</a> and as a satirical coin to mock Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
While <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">Dogecoin </a>trails Bitcoin in value at $47.7 billion to $1.72 trillion based on current market capitalizations, the accomplishments of increasing that much in value are no laughing matter.
With its current market capitalization of $47.7 billion at the time of writing, Dogecoin would rank as the 428th largest company in the world, according to<a href="https://companiesmarketcap.com/page/5/"> companiesmarketcap.com.</a>
Here is a look at some well-known companies that are worth less than Dogecoin is Monday:
<ul>
<li>Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>): $47.6 billion</li>
<li>Volkwagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>): $46.3 billion</li>
<li>Nasdaq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>): $45.7 billion</li>
<li>Keurig Dr Pepper (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDP#NASDAQ">KDP</a>): $44.9 billion</li>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>): $44.7 billion</li>
<li>Heineken (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HEINY#OTC">HEINY</a>): $44.1 billion</li>
<li>Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>): $43.2 billion</li>
<li>Adidas (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>): $42.5 billion</li>
<li>Honda Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>): $42.5 billion</li>
<li>Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>): $40.9 billion</li>
<li>Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>): $39.4 billion</li>
<li>Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>): $39.1 billion</li>
<li>Yum! Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>): $38.2 billion</li>
<li>7-Eleven: $37.3 billion</li>
<li>Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>): $35.7 billion</li>
</ul>
There you have it, 15 companies you've likely heard of now worth less than Dogecoin. Years ago, it was likely unimaginable that the joke cryptocurrency would become larger than companies like Ford and Adidas, but here we are.
Read Also: <a href="https://www.benzinga.com/general/education/24/11/41882342/heres-how-much-100-in-dogecoin-today-could-be-worth-if-doge-hits-new-all-time-highs-2">Here&#8217;s How Much $100 In Dogecoin Today Could Be Worth If DOGE Hits New All-Time Highs</a>
What's Next: The cryptocurrency sector has been enjoying a surge in valuation and interest since the 2024 election with Dogecoin far from the only cryptocurrency trading higher.
Bitcoin hit several new all-time highs on Monday and is currently trading over $87,000.
Dogecoin hit a one-year high of $0.3278 on Monday and currently trades at $0.3251. While the cryptocurrency is up over 100% in the last seven days, Dogecoin trades below its all-time high which was previously set back in May 2021.
Dogecoin's current all-time high stands at $0.7376, a level reached on the same day Elon Musk appeared on an episode of "Saturday Night Live" and gave the meme crypto several shout-outs.
Musk's call to be in charge of the Department of Government Efficiency, or D.O.G.E. under President-elect Donald Trump has increased attention on Dogecoin.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41410605/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-meme-crypto-heres-h">If You Invested $100 In Dogecoin When Elon Musk First Tweeted About The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Photo: Executium via Unsplash

Much Wow! Dogecoin Is Now Larger Than Ford, Adidas, Lululemon, Roblox: 15 Companies Worth Less Than Meme Crypto

Kroger will use RFID sensors to enable item-level digital identification for greater inventory accuracy to maximize freshness, reduce waste and optimize associates' time
Avery Dennison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) announced today it will begin working with The Kroger Co. to build a better associate and customer experience through RFID inventory automation technology. This collaboration makes item-level digital identification possible, enabling more frequent and more accurate inventory information to maximize freshness, reduce waste and improve the associate experience.

Avery Dennison Announces It Will Begin Working With The Kroger Co. To Build A Better Associate And Customer Experience Through RFID Inventory Automation Technology

Albertsons Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) reported second-quarter sales growth of 1.43% year-over-year to $18.55 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41330078/albertsons-companies-inc-reports-second-quarter-fiscal-2024-results" rel="noreferrer noopener">beating the consensus of $18.48 billion.</a>
The 2.5% rise in identical sales, led by pharmacy growth, and a 24% increase in digital sales boosted revenue, though lower fuel sales partially offset gains. Loyalty members for the quarter increased by 15% to 43 million.
The gross margin rate was flat year-over-year at 27.6%. The operating margin was 1.6%, down 91 bps, and operating income for the quarter declined 35.7% to $292 million.
Excluding fuel and LIFO expenses, the gross margin declined 44 bps compared to a year ago. Adjusted EBITDA of $901 million decreased 7.8% YoY, and the margin declined 50 bps to 4.85%.
Adjusted EPS of $0.51 (-19.1% YoY), <a href="https://www.benzinga.com/earnings">beating the consensus estimate of $0.48.</a>
As of September 7, 2024, the company held $284.2 million in cash and equivalents. Operating cash flow totaled $1.374 billion, compared to $1.347 billion a year ago.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41310010/listeria-scare-prompts-albertsons-to-recall-certain-ready-to-eat-meals-in-multiple-states" rel="noreferrer noopener">Listeria Scare Prompts Albertsons To Recall Certain Ready-To-Eat Meals In Multiple State</a>
As of September 7, 2024, net debt totaled $7.908 billion, and the net debt ratio was 1.86, compared to 1.82 a year ago.
&#8220;As we look ahead to the balance of fiscal 2024, we expect to see continuing headwinds related to investments in associate wages and benefits, an increasing mix of our pharmacy and digital businesses which carry lower margins, and an increasingly competitive backdrop. We expect these headwinds to be partially offset by ongoing and new productivity initiatives,&#8221; commented CEO Vivek Sankaran.
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41272661/why-shrinking-price-differences-between-walmart-kroger-and-albertsons-matter-to-inv" rel="noreferrer noopener">Why Shrinking Price Differences Between Walmart, Kroger, And Albertsons Matter To Investors</a>
Additionally, Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) announced it has extended the expiration date for its Exchange Offers and Consent Solicitations regarding the acquisition of Albertsons Companies&#8217; notes <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41330099/kroger-announces-extension-of-exchange-offers-and-consent-solicitations-for-albertsons-companies-i" rel="noreferrer noopener">from October 16 to October 22, 2024.</a>
Dividend: Albertsons announced a quarterly cash dividend of $0.12 per share, payable on November 8, 2024, to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41329915/albertsons-companies-announces-common-stock-dividend" rel="noreferrer noopener">stockholders of record as of October 28, 2024.</a>
Price Action: ACI shares are trading higher by 1.12% at $18.46 at the last check Tuesday.

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Albertsons Q2 Sales Rise, But CEO Expects Competitive And Margin Pressure In 2024

Recent data from JPMorgan's exclusive survey indicates <a href="https://www.benzinga.com/news/24/08/40467624/harris-price-gouging-plan-faces-pushback-from-grocers-hurting-from-the-same-inflationary-pressure-as">that price gaps</a> between Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and competitors like Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Albertsons Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) are narrowing.
Kroger has traditionally maintained higher prices than Walmart, resulting in a price premium over its competitor. However, a recent shift in pricing strategies could signal a change in the competitive landscape as companies adjust to attract increasingly price-sensitive consumers. Notably, Kroger has reported a 2% decrease in its tracked prices since June 2024, marking the most significant decline recorded since the survey began.
<h2 class="wp-block-heading">Price Trends, Consumer Behavior</h2>
Walmart has raised its prices by 1.7%, while Albertsons and Sprouts Farmers Market Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NYSE">SFM</a>) have increased their prices by 1.4%, which contrasts sharply with Kroger's recent price cuts. These changes highlight a shift in consumer sentiment as shoppers prioritize value.
As a result, Kroger&#8217;s price premium over Walmart has fallen to 10%, down from 13.3% in June, making it more competitive in a market where consumers are increasingly conscious of pricing. 
Meanwhile, Albertsons' prices have increased 5.8% since August 2023, potentially leading to a decline in customer loyalty and sales.
Read Also: <a href="https://www.benzinga.com/markets/asia/24/10/41229835/walmart-retail-juggernaut-has-more-room-to-grow-for-investors" target="_blank" rel="noreferrer noopener">Walmart: Retail Juggernaut Has More Room to Grow for Investors</a>
<h2 class="wp-block-heading">Implications For Investors</h2>
The narrowing price gaps could have significant implications for investors. 
Companies that effectively manage perishables and focus on maintaining competitive pricing may see enhanced market shares and improved earnings. 
Notably, while Kroger is cutting prices to stay competitive, Albertsons has invested heavily in perishables, resulting in a 3.2% decline in pricing for this category. SFM, conversely, saw prices rise 4.6%, which might position it differently in terms of market strategy.
As these companies prepare for upcoming earnings reports, investors should closely monitor how they adapt to inflationary pressures and changing consumer preferences. 
The insights provided by JPMorgan underscore the importance of strategic pricing in navigating the competitive grocery landscape. Investors should carefully evaluate each retailer's approach to pricing to make informed decisions.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/m-a/24/09/40909304/kroger-albertsons-shares-dip-after-ftc-gives-closing-arguments-in-hearing-to-block-merger">Kroger, Albertsons Shares Dip After FTC Gives Closing Arguments In Hearing To Block Merger</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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Why Shrinking Price Differences Between Walmart, Kroger, And Albertsons Matter To Investors

Costco (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) has been a big winner so far this year. Consumer staples stocks have generally had a good year, with the Consumer Staples Select Sector SPDR Fund (ARCA:XLP) providing a total return of 15%. However, that still lags the over 20% return of the S&amp;P 500.
Costco has particularly impressed. Its 33% total return this year surpasses its sector and the industry by a wide margin. So, what has been driving Costco&#39;s recent success, and is there still room for this stock to run?
<h2>Breaking Down Costco&#39;s Revenue Streams</h2>
Most everyone knows about Costco&#39;s business model. The company buys and sells items in massive bulk quantities, allowing it to give customers volume discounts. Particularly for large families, this makes Costco an attractive place to buy groceries.
On top of selling goods, the company also charges annual fees that allow its members to shop at the store. However, these fees make up a small amount of the company&#39;s revenue, at around 2% of the total. Food makes up the majority of the company&#39;s revenue at 53% in 2023, followed by non-food goods like appliances and electronics at 25%.
The last 20% comes from its &quot;warehouse ancillary and other business&quot; segment. This includes things like gasoline, pharmacy, and food court sales. It derives revenue primarily from the United States, which made up 73% of total revenue by geography in 2023.
<h2>Costco is Beating the Competition in Core Sales Growth</h2>
One of the biggest reasons for Costco&#39;s strong returns this year has to be the company&#39;s comparable store sales growth. This measurement excludes sales from newer stores, as opening a new store is an easy way to boost sales. Looking at this figure shows a more sustainable measurement of the company&#39;s ability to increase revenue.
In comparison to its rivals, Costco is winning on this front in 2024. Target (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>) has overall seen a sizable decline in same-store sales this year, and Kroger (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kr#NYSE">KR</a>) has managed to achieve just slightly positive growth. Walmart (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) is doing well, with low double-digit growth. However, Costco&#39;s mid-teens growth is the strongest of these firms, and growth has especially picked up in the last two quarters. However, Costco&#39;s stock price has only risen slightly since mid-Aug., while Walmart&#39;s is up another 20%.
Walmart&#39;s 52% price appreciation this year leads the group. Part of this divergence may be the fact that Walmart has increased its margins in a much stronger way amid its sales growth. The firm improved operating margin and gross margin by 45 basis points and 30 basis points last quarter, respectively. Those increases for Costco were just 7 and 13 basis points.
<h2>Analysts are Mixed On Costco, but Aren&#39;t Signaling Near-Term Concern</h2>
Looking at analyst ratings and price targets on Costco, the views are mixed. Its 23 buy ratings outpace its 13 hold and one sell rating, but the average price target isn&#39;t all that inspiring. The figure indicates just around 6% implied upside in the stock, a number that suggests the company is within the fairly valued range at this point.
However, it&#39;s interesting to note that at least 10 Wall Street analysts raised their price targets after the company&#39;s Sept. 27 earnings report, and none appear to have lowered their target. Yet, shares are down 3% since the release as the company missed on sales growth estimates. This comes despite knowledge that the dockworkers&#39; strike was imminent and has now begun. These signals analysts aren&#39;t too worried about the strike having a negative impact on the company.
Overall, Costco remains a company with strong fundamentals that has shown it can thrive while some of its competitors face slow or declining growth. Its membership-based business model keeps customers coming back, and the firm should be able to realize benefits from its increased membership prices in late 2025.
Another plus for Costco is that it can significantly grow its e-commerce business. E-commerce makes up a smaller portion of the company&#39;s business compared to Walmart. The e-commerce part of the business is growing at a solid rate of around 20% over the last two quarters.
What will happen in the short term for the company is hard to predict but estimates of earnings growth over the mid-term are strong. Over the next five years, analysts expect the company to grow adjusted earnings per share by over 10% annually.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/has-costco-stock-run-its-course-for-now/">Has Costco Stock Run Its Course for Now?</a>&quot; first appeared on MarketBeat.

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Has Costco Stock Run Its Course for Now?

Telsey Advisory Group analyst Joseph Feldman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Outperform and maintains $62 price target.

Telsey Advisory Group Maintains Outperform on Kroger, Maintains $62 Price Target

Boost By Kroger Plus Annual Membership Now Includes Choice Of Disney+ Basic, Hulu, Or ESPN+ Subscription As Part Of Streaming Benefit Expansion

&nbsp;The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) (the "Company" or "Kroger") announced today that it has extended the expiration date of the previously announced offers to exchange (the "Exchange Offers") any and all outstanding notes (the "ACI Notes") of Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) ("ACI"), New Albertsons, L.P., Safeway Inc., Albertson's LLC, Albertsons Safeway LLC and American Stores Company, LLC, as applicable, for up to $7,441,608,000 aggregate principal amount of new notes to be issued by the Company (the "Kroger Notes") and cash. Additionally, Kroger announced today that it has extended the expiration date for the related solicitations of consents (collectively, the "Consent Solicitations") to adopt certain proposed amendments (the "Proposed Amendments") to the indentures (collectively, the "ACI Indentures") governing the ACI Notes, solely with respect to the Unconsented Series (as defined in the Company's press release issued on September 11, 2024). The Company hereby extends such expiration date from 5:00 p.m. New York City time on October 9, 2024 to 5:00 p.m. New York City time on October 16, 2024 (as the same may be further extended, the "Expiration Date").
&nbsp;
As of August 29, 2024, the requisite number of consents were received to adopt the Proposed Amendments with respect to the Consented Series (as defined in the Company's press release issued on September 11, 2024), and the relevant parties had executed supplemental indentures to the applicable ACI Indentures implementing the Proposed Amendments. The Proposed Amendments will only become operative upon the settlement of the Exchange Offers, which is expected to occur promptly after the Expiration Date.
Tenders of ACI Notes made pursuant to the Exchange Offers (but not consents delivered pursuant to the Consent Solicitations) may be validly withdrawn at or prior to the Expiration Date.

Kroger Extends Deadline for Albertsons Notes Exchange Offers and Consent Solicitations to October 16 (From Prior October 9)

When word got around that Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) was <a href="https://www.benzinga.com//node/41182466">considering a bankruptcy</a> filing, critics quickly took to social media to blame the Biden administration. 
Why? Recall how, in January, U.S. <a href="https://www.benzinga.com/news/24/01/36648448/jetblue-spirit-airlines-merger-blocked-spirit-shares-tumble">antitrust regulators successfully blocked</a> JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) from buying Spirit for $3.8 billion. Indeed, over the past four years, regulators <a href="https://www.benzinga.com/government/24/09/40693260/kroger-albertsons-merger-in-ftc-crosshairs-customers-competitors-at-risk">often hold up</a> M&amp;A activity they consider anti-competitive, such as <a href="https://www.benzinga.com/news/large-cap/22/10/29266605/kroger-albertsons-finally-seal-the-rumored-merger-deal-see-highlights">the $25 billion merger</a> between Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Alberstons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>).
The JetBlue/Spirit scenario was no different. Fast-forward to this week: The <a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae">Wall Street Journal</a> reported Spirit is in talks with bondholders and creditors to see if a Chapter 11 bankruptcy is the best option for the troubled carrier.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Biden and Harris torched the merger. Now many will be without a job.
&mdash; Ottoman (@raddadcomments) <a href="https://twitter.com/raddadcomments/status/1841958271655280659?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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The JetBlue deal would have saved jobs and the airline, observers argued. It&#8217;s worth noting Spirit&#8217;s problems stem from having to ground several Airbus planes due to turbofan engine problems.
Bank of America Securities analysts noted in January that Spirit&#8217;s ongoing engine repairs hurt &#8220;the traditional ultra-low cost business model.&#8221;
Dania Beach, Florida-based Spirit also attributed its financial struggles to an &#8220;intense competitive battle&#8221; for price-sensitive leisure travelers, as well as an oversupply of airline seats in the domestic market.
&#8220;You can think [sic] Biden and his FTC crew for this. Way to go Joe!&#8221; a social media user posted.
Precedent shows that a deal with JetBlue wouldn&#8217;t have been a safety net for Spirit as most major airline mergers lead to job losses, regardless of whether the target is a distressed asset.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41178053/spirit-airlines-engages-in-bankruptcy-talks-amid-financial-struggles-report">Spirit Airlines Engages In Bankruptcy Talks Amid Financial Struggles</a>
The scale and impact can vary depending on several factors such as the size of the merger. Here are a few examples of job losses from major mergers:
<ul>
<li>American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and US Airways: After the 2013 merger, there were several thousand job losses. Estimates ranged from 1,500 to 3,000 positions cut. </li>
<li>United Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and Continental Airlines: The 2010 merger resulted in the elimination of roughly 1,500 to 2,000 job losses. These cuts were primarily due to redundant corporate and administrative positions. </li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Northwest Airlines: While the 2008 merger helped the combined airline grow, but also led to an estimated 2,000 to 3,000 job losses.</li>
</ul>
Airline mergers often lead to route and capacity optimization, reducing staffing needs in less profitable areas. Cost synergies, like lowering fuel and labor costs, can prompt additional cuts as well. Fleet consolidation may phase out older aircraft, affecting technical staff.
Union agreements and labor contracts might also lead to layoffs as the merged airline harmonizes pay and benefits across the workforce.
While not all mergers result in severe job losses, neither do bankruptcies. Jobs can sometimes be saved when a company files for Chapter 11, since the process allows a company to reorganize its debts and operations while continuing to operate, giving it a chance to become financially viable. 
During this process, the company may restructure contracts, renegotiate with creditors and streamline operations, which can help preserve jobs that would otherwise be lost in a complete liquidation. While layoffs may occur, Chapter 11 provides more opportunities for the business to recover and protect a portion of its workforce.
Spirit&#8217;s debt load hovers around $3.3 billion, per the Wall Street Journal.
Recent airline bankruptcies include Virgin America and Monarch Airlines, both in 2017; WOW Air in 2019; and LATAM Airlines Group SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTM#NYSE">LTM</a>) in 2020. LATAM emerged from bankruptcy in 2022 stronger and is now larger and leaner, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41123208/latam-airlines-earnings-will-remain-higher-for-longer-says-bullish-analyst">according to Morgan Stanley analysts</a>.
What&#8217;s Next: It remains to be seen whether Spirit will follow through with bankruptcy. At last check Friday, Spirit stock is trading 26.28% lower at $1.66, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
The stock has lost more than 85% of its value in 2024. 
Now Read: 
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<li><a href="https://www.benzinga.com/news/24/10/41124443/whats-going-on-with-delta-united-and-spirit-airlines-shares-tuesday">What's Going On With Delta, United and Spirit Airlines Shares Tuesday?</a></li>
</ul>
Photo: Shutterstock

Spirit Airlines Bankruptcy Chatter Has Critics Blaming Biden: Here's What History Shows About Carrier Mergers

Melius Research analyst Karen Short initiates coverage on Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Hold rating and announces Price Target of $55.

Initiation

Melius Research Initiates Coverage On Kroger with Hold Rating, Announces Price Target of $55

Kroger Extends Exchange Offers And Consent Solicitations For Albertsons Companies For Up To $7,441,608,000 Aggregate Principal Amount Of New Notes And Cash; Extends Expiration Date From Sept. 23 To Sept. 27

Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) shares closed lower Tuesday after lawyers for the Federal Trade Commission (FTC) gave closing arguments in a hearing to temporarily block the proposed merger <a href="https://www.benzinga.com/government/24/09/40693260/kroger-albertsons-merger-in-ftc-crosshairs-customers-competitors-at-risk">between the two companies.&nbsp;</a>
The Details: The three-week-long U.S. District Court hearing ended on Tuesday. The FTC urged Judge Adrienne Nelson to issue a preliminary injunction to block the merger while its complaint goes before an in-house administrative law judge on Oct.1.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40888466/what-happened-with-microstrategy-stock-today">What Happened With MicroStrategy Stock Today?</a>
The proposed $24.6 billion deal would be the largest supermarket merger in U.S. history, if it goes through. Kroger and Albertsons argue the merger would allow them to lower prices for consumers, boost union jobs and compete with retail giants like Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).&nbsp;
According to a Reuters report, the FTC's chief trial counsel Susan Musser argued Tuesday that Kroger and Albertsons primarily compete with each other, rather than Amazon or Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), as well, and the merger would eliminate competition, leading to higher food prices for customers. 
"It's this local competition, in these local communities, that this merger will eliminate," Musser said.
KR, ACI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Kroger shares ended Tuesday's session 2.13% lower at $55.04 and Albertsons shares closed 1.75% lower at $18.54.&nbsp;
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40887805/whats-going-on-with-tupperware-brands-stock">What&#8217;s Going On With Tupperware Brands Stock?</a></li>
</ul>
Photo: Shutterstock

Legal

Movers

AMZN

Kroger, Albertsons Shares Dip After FTC Gives Closing Arguments In Hearing To Block Merger

Content creators MrBeast, Logan Paul and KSI have teamed up on a new food company called Lunchly that is taking on the well-known<a href="https://www.benzinga.com/markets/equities/23/08/33960652/kraft-heinz-plans-to-offer-lunchables-to-school-cafeterias-sees-multi-billion-opportunity-report"> ready-to-eat Lunchables brand.</a>
What Happened: Food giant Kraft Heinz Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NYSE">KHC</a>) may<a href="https://www.benzinga.com/markets/equities/24/01/36680301/this-warren-buffett-favorite-just-made-a-golden-cross-bullish-signals-on-the-horizon"> have trouble ahead</a> for its Lunchables brand with Lunchly now in direct competition.
Lunchly was launched with the "goal of revolutionizing lunch" and providing a focus on quality ingredients, delicious flavors and healthier options for the grab-and-go lunch sector, the creators said.
There are three <a href="https://lunchly.com/">Lunchly </a>meal options at launch: Turkey Stack ‘Ems, Pizza and Fiesta Nachos. Each meal comes with a PRIME hydration drink and a Feastables bar. PRIME was launched in 2022 by Paul and KSI; Feastables was also launched that same year by MrBeast.
Paul said Lunchables has dominated the lunch grab-and-go market for years and Lunchly will provide a "better option" for people looking for convenience and healthy options.
Lunchly products will hit stores later this month. A search on the company's website showed Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) locations as stores that will carry the products.
MrBeast said Lunchly will provide healthier and "better-tasting options.
"Lunchly is all about giving kids a fun, grab-and-go meal that's not just delicious, but also good for them. We're here to change what lunchtime looks like for the next generation," MrBeast, aka Jimmy Donaldson, said.
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Why It's Important: With three of the most widely followed names in content creation and people popular with the younger generation today, Lunchly could present a major challenge to Lunchables.
The news also comes at a bad time for Lunchables, which said in August that it was ready to offer Lunchables in school cafeterias with a potential $25 billion opportunity.
MrBeast is the <a href="https://www.benzinga.com/general/entertainment/24/07/39720279/mrbeast-celebrates-youtube-record-with-new-video-featuring-50-content-creators-competing-fo">most followed person </a>on YouTube with 315 million followers. PRIME has been one of the fastest growing beverages since it launched, hitting the <a href="https://www.benzinga.com/trading-ideas/23/11/35711957/logan-paul-ksis-prime-beverage-hits-1-billion-units-sold-should-pepsi-and-coca-cola-be-worried">one billion units sold milestone</a> in November.
Existing distribution deals that Feastables and PRIME have in place could help the company quickly land in retailers globally.
Bad news for Lunchables could also be bad news for billionaire Warren Buffett. Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) owns over 325 million Kraft Heinz shares and more than 25% of the company.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports/23/12/36314531/patrick-mahomes-signs-with-logan-paul-backed-prime-drink-company-why-this-could-be-bad-news-for-co">Patrick Mahomes Signs With Logan Paul-Backed PRIME Drink Company: Why This Could Be Bad News For Coca-Cola And Pepsi</a></li>
</ul>
Photos: MrBeast, Logan Paul, KSI via Shutterstock

Entertainment

MrBeast, Logan Paul, KSI Team Up To Launch Lunchly, Take On Lunchables — And Warren Buffett

The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) (the "Company" or "Kroger") announced today that it has extended the expiration date of the previously announced offers to exchange (the "Exchange Offers") any and all outstanding notes (the "ACI Notes") of Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) ("ACI"), New Albertsons, L.P., Safeway Inc., Albertson's LLC, Albertsons Safeway LLC and American Stores Company, LLC, as applicable, for up to $7,441,608,000 aggregate principal amount of new notes to be issued by the Company (the "Kroger Notes") and cash. Additionally, Kroger announced today that it has extended the expiration date for the related solicitations of consents (collectively, the "Consent Solicitations") to adopt certain proposed amendments (the "Proposed Amendments") to the indentures (collectively, the "ACI Indentures") governing the ACI Notes, solely with respect to the Unconsented Series (as defined in the Company's press release issued on September 11, 2024). The Company hereby extends such expiration date from 5:00 p.m. New York City time on September 17, 2024 to 5:00 p.m. New York City time on September 23, 2024 (as the same may be further extended, the "Expiration Date").

Kroger Has Extended The Expiration Date For Its Exchange Offers And Consent Solicitations Related To Albertsons Companies Notes Until September 23, 2024

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our<a href="http://benzinga.com/analyst-stock-ratings"> analyst ratings page</a>.
<ul>
<li>Wells Fargo cut the price target for Pebblebrook Hotel Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) from $15 to $13. Wells Fargo analyst Dori Kesten maintained an Equal-Weight rating. Pebblebrook Hotel Trust shares rose 1.5% to trade at $12.98 on Friday. S<a href="https://www.benzinga.com/quote/PEB/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>TD Cowen cut the price target for Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) from $70 to $60. TD Cowen analyst Tyler Van Buren maintained a Hold rating. Moderna shares fell 4.9% to trade at $66.25 on Friday. <a href="https://www.benzinga.com/quote/mrna/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities cut Zimmer Biomet Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) price target from $117 to $112. Truist Securities analyst Richard Newitter reiterated a Hold rating. Zimmer Biomet shares gained 1.8% to trade at $107.06 on Friday. <a href="https://www.benzinga.com/quote/zbh/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim raised Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) price target from $185 to $200. Guggenheim analyst John Difucci maintained a Buy rating. Oracle shares rose 1% to trade at $162.87 on Friday. <a href="https://www.benzinga.com/quote/orcl/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs raised the price target for TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) from $53 to $60. Goldman Sachs analyst Alexander Blostein maintained a Buy rating. TPG shares gained 3% to close at $55.55 on Friday. S<a href="https://www.benzinga.com/quote/tpg/analyst-ratings">ee how other analysts view this stock</a>.</li>
<li>UBS boosted CubeSmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBE#NYSE">CUBE</a>) price target from $53 to $54. UBS analyst Michael Goldsmith downgraded the stock from Buy to Neutral. CubeSmart shares fell 0.2% to trade at $53.81 on Friday. <a href="https://www.benzinga.com/quote/cube/analyst-ratings">See how other analysts view this stoc</a>k.</li>
<li>Stifel cut Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) price target from $121 to $103. Stifel analyst Steve Wieczynski maintained a Buy rating. Wynn Resorts shares rose 3.6% to trade at $79.07 on Friday. <a href="https://www.benzinga.com/quote/wynn/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup cut the price target for Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) from $110 to $75. Citigroup analyst Scott Gruber downgraded the stock from Buy to Neutral. Nabors Industries shares rose 0.5% to trade at $65.41 on Friday. <a href="https://www.benzinga.com/quote/nbr/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays slashed Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) price target from $181 to $133. Barclays analyst George Wang downgraded the stock from Equal-Weight to Underweight. Garmin shares fell 6.2% to trade at $170.74 on Friday. <a href="https://www.benzinga.com/quote/grmn/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group raised The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) price target from $62 to $63. Evercore ISI Group analyst Michael Montani maintained an Outperform rating. Kroger shares rose 1.1% to trade at $55.81 on Friday. <a href="https://www.benzinga.com/quote/kr/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Read More:
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<li> <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40853112/ionq-is-losing-too-much-money-while-this-tech-stock-is-real-deal-jim-cramer">IonQ Is Losing &#8216;Too Much Money&#8217; While This Tech Stock Is &#8216;Real Deal&#8217;: Jim Cramer</a></li>
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CUBE

GRMN

MRNA

ORCL

WYNN

Oracle To Rally Around 23%? Here Are 10 Top Analyst Forecasts For Friday

JP Morgan analyst Ken Goldman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Overweight and raises the price target from $58 to $59.

JP Morgan Maintains Overweight on Kroger, Raises Price Target to $59

Evercore ISI Group analyst Michael Montani maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Outperform and raises the price target from $62 to $63.

Evercore ISI Group Maintains Outperform on Kroger, Raises Price Target to $63

Morgan Stanley analyst Simeon Gutman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Equal-Weight and raises the price target from $57 to $58.

Morgan Stanley Maintains Equal-Weight on Kroger, Raises Price Target to $58

Low P/E S&P stocks stand out as undervalued picks in a volatile market, offering income and potential growth. Amid this backdrop, investors looking for low P/E stocks might consider Merck & Co. (MRK), Verizon Communications (VZ), and The Kroger Co. (KR), as they are well-positioned to deliver steady returns. Read more… S&amp;P stocks with <a href="https://www.investopedia.com/terms/p/price-earningsratio.asp">low price-to-earnings (P/E) ratios</a> can offer attractive entry points for value-focused investors, especially those seeking established blue-chip companies with long-term growth prospects. Below, I have highlighted three such S&amp;P stocks that have low P/E ratios, namely, Merck &amp; Co., Inc. (<a href="https://stocknews.com/stock/MRK/">MRK</a>), Verizon Communications Inc. (<a href="https://stocknews.com/stock/VZ/">VZ</a>), and The Kroger Co. (<a href="https://stocknews.com/stock/KR/">KR</a>).
Now, you might wonder why a low P/E ratio. Well, lower P/E ratios often indicate undervaluation relative to its peers in the industry, particularly for companies with stable cash flows and strong market positions. This valuation measure becomes particularly appealing amid market volatility due to temporary or sector-specific challenges.
Specific sectors like healthcare, industrials, and financials are showing favorable P/E ratios relative to historical averages in the current market. These sectors often <a href="https://fullratio.com/pe-ratio-by-industry">benefit from cyclical market upswings</a>, and their stable earnings profiles can provide a cushion against economic slowdowns.
In sum, S&amp;P stocks with low P/E ratios are drawing attention as attractive investment opportunities for long-term and income-focused investors. Given these favorable trends, let's analyze the fundamental aspects of the MRK, VZ, and KR to understand them better:
Merck &amp; Co., Inc. (<a href="https://stocknews.com/stock/MRK/">MRK</a>)
MRK is a global healthcare company offering health solutions through its prescription medicines, including biological therapies, vaccines, and animal health products. It operates through two segments: Pharmaceutical and Animal Health.
On October 23, MRK announced that the U.S. Centers for Disease Control and Prevention's (CDC's) Advisory Committee on Immunization Practices (ACIP) has voted to update the adult-age-based pneumococcal vaccination guidelines and to recommend CAPVAXIVE in adults 50 years of age and older. This recommendation is an important step forward to access and vaccination rate improvement.
In the same month, MRK and Exelixis, Inc. (<a href="https://stocknews.com/stock/EXEL/">EXEL</a>) signed a clinical development collaboration to evaluate the combination of EXEL's investigational tyrosine kinase inhibitor (TKI) zanzalintinib with MRK's anti-PD-1 therapy KEYTRUDA&#xAE; (pembrolizumab) in Phase 3 pivotal trial for the treatment of patients with head and neck cancer in combination with WELIREG (belzutifan) in renal cell carcinoma (RCC).
This collaboration is for an unmet clinical need with two approved therapies and should pave the way further for zanzalintinib development in RCC.
In terms of forward non-GAAP P/E, MRK is trading at 12.98x, 37.8% lower than the industry average of 20.88x. Likewise, the stock's forward EV/EBIT and Price/Cash Flow multiples of 11.79 and 9.88 are 28.6% and 36.9% lower than their respective industry averages of 16.50 and 15.68.
MRK's sales for the nine-month period ended September 30, 2024, increased 6.7% year-over-year to $48.54 billion, while its Pharmaceutical segment's sales improved by 7.2% from the prior year's value to $43.36 billion. The company's net income attributable rose significantly from the year-ago value to $13.37 billion, while its EPS stood at $5.26, up considerably year-over-year.
According to the full-year 2024 guidance, MRK forecasts worldwide sales to range from $63.60 billion to $64.10 billion, an increase from the previous guidance of $63.40 billion to $64.40 billion. The company also expects non-GAAP EPS to be between $7.72 and $7.77.
The consensus revenue estimate of $15.63 billion for the fiscal fourth quarter (ending December 2024) represents a 6.8% increase year-over-year. The consensus EPS estimate of $1.87 for the current quarter indicates a considerable improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the intraday, the stock has declined marginally, closing the last trading session at $101.87.
MRK's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its promising outlook. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
MRK has an A grade for Quality and a B for Value and Stability. It is ranked #5 out of 161 stocks in the <a href="https://stocknews.com/category/pharmaceuticals/">Medical - Pharmaceuticals</a> industry. <a href="https://stocknews.com/stock/MRK/">Click here</a> to see the additional ratings for MRK (Growth, Momentum, and Sentiment).
Verizon Communications Inc. (<a href="https://stocknews.com/stock/VZ/">VZ</a>)
VZ offers consumers, businesses, and governmental agencies communications, information, and entertainment products and services. It operates through two segments, Verizon Consumer Group and Verizon Business Group, providing wireless and wireline communications services and products in the United States.
On September 30, VZ and Vertical Bridge entered into an agreement for Vertical Bridge to obtain the exclusive rights to lease, operate, and manage 6,339 wireless communications towers across all 50 states from VZ for $3.3 billion, with an upfront $2.8 billion in cash. This transaction will save costs for VZ and create greater vendor diversity in the market.
On September 5, VZ entered into an agreement with Frontier Communications Parent, Inc. (FYBR) to acquire Frontier in an all-cash transaction valued at $20 billion. This acquisition will considerably expand VZ's fiber footprint and intelligent edge network for digital innovations like AI and IoT in the market.
In terms of forward non-GAAP P/E, VZ is trading at 8.92x, 34.9% lower than the industry average of 13.72x. Likewise, the stock's forward EV/EBIT and Price/Cash Flow multiples of 11.98 and 5.00 are 21.6% and 40.5% lower than the industry averages of 15.28x and 8.39x, respectively.
In the fiscal third quarter that ended on September 30, 2024, VZ's service revenues and other increased marginally year-over-year, amounting to $27.99 billion. The company's consolidated adjusted EBITDA came in at $12.49 billion, up 2.1% year-over-year, and its EPS stood at $0.41, up 355.6% year-over-year.
According to VZ's guidance and outlook for its fiscal year 2024, it is projecting adjusted EBITDA to grow between 1% to 3%. Additionally, its adjusted EPS guidance ranges from $4.50 to $4.70. The company also expects total wireless services revenue growth to range between 2% and 3.5%.
Street expects VZ's revenue for the fiscal fourth quarter (ending December 2024) to increase marginally year-over-year to $35.45 billion. Its EPS for the same period is expected to register a 2.9% growth from the prior year, settling at $1.11. In addition, it surpassed the consensus EPS estimates in three of the trailing four quarters, which is promising.
The stock has gained 14% over the past year to close the last trading session at $41.06.
VZ's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It also has a B grade for Growth and Stability. Within the <a href="https://stocknews.com/category/telecom-domestic/">Telecom - Domestic</a> industry, it is ranked #3 out of 20 stocks. <a href="https://stocknews.com/stock/VZ/">Click here</a> to see VZ's ratings for Value, Momentum, Sentiment, and Quality.
The Kroger Co. (<a href="https://stocknews.com/stock/KR/">KR</a>)
KR is a food and drug retailer that owns and operates in supermarkets, multi-department stores, marketplace stores, and price-impact warehouses. It offers grocery, health, and beauty care items, general merchandise (including apparel, home goods, and toys), pet centers, fresh seafood, and organic produce.
On October 8, KR announced that Boost by Kroger Plus will include Disney streaming options as part of its annual memberships. The company's members can choose from Disney+ Basic (With Ads), Hulu (With Ads), or an ESPN+ subscription as part of an inclusion benefit. This collaboration will make the program more valuable and convenient.
In the same month, KR closed the transaction to sell its specialty pharmacy business to Elevance Health. The specialty pharmacy, earlier owned by KR, serves patients with chronic illnesses that require complex care.
In terms of forward non-GAAP P/E, KR is trading at 12.66x, which is 28% lower than the industry average of 17.59x. The stock's forward Price/Cash Flow ratio of 6.48x is 51% below the industry average of 13.24x. Also, its forward EV/Sales multiple of 0.38 compares to the industry average of 1.72x.
For the second quarter of 2024, which ended on August 17, KR's sales increased marginally year-over-year to $33.91 billion. Its operating profit came in at $815 million versus a loss of $479 million in the prior year. Further, its attributable net earnings amounted to $466 million and $0.64 per share, compared to a net loss of $180 million and $0.25 per share in 2023.
As per the updated financial guidance for the full year 2024, KR now forecasts identical sales without fuel between 0.75% and 1.75%. The company expects adjusted FIFO operating profit to be in the range of $4.60 billion to $4.80 billion. Also, its adjusted net earnings per share is forecasted to lie between $4.30 and $4.50.
Street expects KR's revenue for the fiscal third quarter (ended October 2024) to increase marginally year-over-year to $34.22 billion. Its EPS for the same period is expected to register a 2.8% growth from the prior year, settling at $0.98. In addition, it surpassed the EPS estimates in each of the trailing four quarters, which is promising.
Shares of KR have surged 24% over the past year and 21.9% over the past nine months to close the last trading session at $56.27.
It's no surprise that KR has an overall rating of B, equating to a Buy in our POWR Ratings system. It has a B grade for Value and Quality. Out of 37 stocks in the A-rated <a href="https://stocknews.com/category/grocery-big-box-retailers/">Grocery/Big Box Retailers</a> industry, KR is ranked #23.
Beyond what is stated above, we've also rated KR for Growth, Momentum, Stability, and Sentiment. Get all KR's ratings <a href="https://stocknews.com/stock/KR/">here</a>.
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<hr />
MRK shares were trading at $101.63 per share on Tuesday afternoon, down $0.24 (-0.24%). Year-to-date, MRK has declined -4.99%, versus a 22.27% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/mrk-vz-kr-exel-3-sp-stocks-with-low-p-e-ratios-to-buy-now/>3 S&P Stocks With Low P/E Ratios to Buy Now</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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Kroger

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에 대한 최신 뉴스 Kroger (NYSE:KR) 주식

화요일, 11월 12, 2024

토요일, 10월 05, 2024

사람들이 또한 지켜본다

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