Why are Kroger (KR), Lowe’s (LOW) stocks trending Tuesday?

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Why are Kroger (KR), Lowe’s (LOW) stocks trending Tuesday?

 Why are Kroger (KR), Lowe’s (LOW) stocks trending Tuesday?
Image source: Phonlamai Photo,Shutterstock

Highlights

  • The Kroger Co.’s (NYSE: KR) shares gained 4.48% in intraday trading.
  • Shares of Lowe’s Companies Inc. (NYSE: LOW) tumbled 5.22% on Tuesday.
  • Lowe’s total sales in the first quarter of 2021 were US$24.4 billion.

The stocks of The Kroger Co. (NYSE: KR) and the Lowe's Companies Inc. (NYSE: LOW) were trending on Wall Street Tuesday.

The Kroger (KR) stock surged 4.48 percent at 1:02 pm ET after Berkshire Hathaway Inc. raised its stake in the company. In an update on Monday, Warren Buffet's firm said that it increased its stake in Kroger by around 11 million shares in Q2 to 61.8 million shares.

On the other hand, Lowe's (LOW) shares fell 5.22 percent at 1:08 pm ET, ahead of its Q2 earnings results on August 18. It is expected to report before the market opens.

Also Read: Why did these three energy stocks nosedive Tuesday?

The Kroger Co. (NYSE: KR)


The operating loss of the Cincinnati, Ohio-based company in Q4, 2020, was US$158 million, which includes US$989 million charges for UFCW pension commitments. Its identical sales without fuel rose 10.6 percent, while its digital sales increased by 118 percent. The earnings per share came in at US$0.10, and its adjusted EPS was US$0.81.

The Kroger stock was priced at US$45.40 at 1:02 pm ET, up 4.48 percent from its previous close. The stock value of Kroger increased by 35.23 percent YTD. Its market cap is US$33.83 billion, the forward P/E one year is 14.11, and the earnings per share (EPS) is US$1.91. The highest and lowest stock price of KR for the last 52 weeks was US$43.51 and US$30.35. Its share volume on August 16 was 5,459,564.   

Also Read: Four trending food delivery stocks to explore

Source: Pixabay.

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Lowe's Companies Inc. (NYSE: LOW)


The total sales of the North Carolina-based firm were US$24.4 billion in Q1 of fiscal 2021 compared to US$19.7 billion in the year-ago quarter. The net earnings came in at US$2.3 billion and diluted earnings per share were US$3.21 in the quarter ended April 30, 2021.

The stock of the home improvement retail firm traded at US$183.38 at 1:08 pm ET, down 5.22% from its previous close. The stock rose by 20.64 percent YTD. Its market cap is US$129.64 billion, its forward P/E one year is 17.65, and the EPS is US$9.18. Its 52-week highest and the lowest stock price was US$215.22 and US$146.72. Its share volume on August 16 was 3,486,642.   

Also Read: Earnings Alert: Walmart (WMT), Home Depot (HD) revenue up in Q2

Bottomline:

The retail sector provides various durable and non-durable goods for consumers. Although the segment has struggled during the pandemic, it is gradually limping back. Consumer spending also has increased in recent months. The momentum is expected to continue. It will help the retail sector to bounce back strong in the coming months.

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