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KR

Kroger

$28.75

-0.36 (-1.24%)

, WBA

Walgreens Boots Alliance

$72.48

-0.44 (-0.60%)

08:03
10/02/18
10/02
08:03
10/02/18
08:03

Kroger, Walgreens Boots Alliance collaborate on exploratory pilot

The Kroger Co. (KR) and Walgreens (WBA) announced that the companies are collaborating on an exploratory pilot with a new format and concept that combines Kroger's role as America's grocer and food authority with Walgreens global expertise in pharmacy, health and beauty. The two retail leaders have selected 13 Walgreens stores in Northern Kentucky, near Kroger's Cincinnati headquarters, to pilot the format. The companies will conduct this pilot over the next several months, listening closely to customer feedback. Initially, Kroger and Walgreens will develop and test a one-stop shopping experience where customers can access products and services from both companies. Customers will be able to order Kroger grocery items online and pickup orders at the participating Walgreens locations. Kroger's popular Our Brands grocery items, including America's largest natural and organic brand, Simple Truth, will also be available in-store at participating Walgreens locations. The diversified shopping assortment will complement Walgreens products and services across health and wellness, pharmacy and beauty.

KR

Kroger

$28.75

-0.36 (-1.24%)

WBA

Walgreens Boots Alliance

$72.48

-0.44 (-0.60%)

  • 11

    Oct

  • 28

    Oct

KR Kroger
$28.75

-0.36 (-1.24%)

07/06/18
SBSH
07/06/18
INITIATION
SBSH
Buy
Kroger assumed with a Buy at Citi
Citi analyst Gregory Badishkanian assumed coverage of Kroger with a Buy rating. The analyst expects continued comp momentum driven by the completion of additional store optimization projects and the return to inflation.
07/13/18
LOOP
07/13/18
NO CHANGE
Target $61
LOOP
Buy
United Natural Foods positioned for rise of online grocery, says Loop Capital
Loop Capital analyst Andrew Wolf kept his Buy rating and $61 price target on United Natural Foods, saying the company is best positioned to capitalize on the growing shopping trend of buying groceries online. The analyst notes that the company already supplies Whole Foods (AMZN) and Kroger (KR) with natural and specialty foods as well as health and beauty care goods. Wolf adds that United Natural Foods also offers "backstage capabilities and merchandising curation" that serve the broader market as well as independent natural retailers. The analyst further points to the company's 23% sales increase in e-commerce reported in its most recent quarter.
09/10/18
CLVD
09/10/18
NO CHANGE
CLVD
Kroger Q2 sales slightly below consensus, says Cleveland Research
Cleveland Research said Kroger's Q2 sales appear slightly below consensus due to an increase in promotions to drive sales, which could lead to margin pressure, and said the channel is cautious on the the the sales trend outlook given recent weakness.
09/27/18
MSCO
09/27/18
NO CHANGE
MSCO
Walmart, Kroger to see margin pain from 'war of attrition,' says Morgan Stanley
Morgan Stanley analyst Simeon Gutman said food retail disruption is accelerating as both grocers and consumers head online and he projects that industry EBIT margins, which are "already slim at 3%," could shrink by nearly a third by 2023. He is incrementally more cautious on Kroger (KR) and has "meaningfully" lowered his EBIT and EPS forecasts, stating that while the company and Walmart (WMT) can both take share, "margin pain" is likely in the process of their "war of attrition" in grocery with Amazon (AMZN), each other and a number of additional competitors. Consensus estimates expect stable margins at Kroger and Walmart, which appears challenging to Gutman, he tells investors. The analyst keeps Equal Weight ratings on both traditional retailers and an Overweight rating on Amazon, arguing that it should be able to leverage Prime and its fast-growing high-margin businesses to invest more heavily while still driving higher profitability.
WBA Walgreens Boots Alliance
$72.48

-0.44 (-0.60%)

07/23/18
COWN
07/23/18
DOWNGRADE
COWN
Market Perform
Walgreens Boots Alliance downgraded to Market Perform from Outperform at Cowen
07/23/18
COWN
07/23/18
DOWNGRADE
Target $71
COWN
Market Perform
Walgreens Boots Alliance downgraded to Market Perform at Cowen
As reported previously, Cowen analyst Charles Ryhee downgraded Walgreens Boots Alliance to Market Perform from Outperform. The analyst views it as poorly positioned in the move toward value-based care and believes the ownership of, rather than a partnership with, an insurance company is necessary to realize the benefits of cost trend improvements. Ryhee lowered his price target to $71 from $77 on Walgreen's Boots Alliance shares.
07/23/18
07/23/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Papa John's (PZZA) downgraded to Sell from Hold at Stifel with analyst Chris O'Cull saying the outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture." 2. Buckeye Partners (BPL) downgraded to Sell from Hold at SunTrust with analyst Tristan Richardson saying the latest negative action by Moody's was "quicker than expected" and may lead to a cut in the company's distribution. 3. Walgreens Boots Alliance (WBA) downgraded to Market Perform from Outperform at Cowen with analyst Charles Ryhee saying he views it as poorly positioned in the move toward value-based care and believes the ownership of, rather than a partnership with, an insurance company is necessary to realize the benefits of cost trend improvements. 4. General Electric (GE) downgraded to Hold from Buy at Argus with analyst John Eade saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. 5. Philip Morris (PM) downgraded to Hold from Buy at Societe Generale. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/18
LOOP
09/10/18
NO CHANGE
Target $2
LOOP
Hold
Fred's sells pharmacy files to Walgreens for 'good valuation,' says Loop Capital
Loop Capital analyst Andrew Wolf noted that Fred's (FRED) announced that Walgreens (WBA) will acquire pharmacy prescription files and related pharmacy inventory of 185 Fred's stores located across 10 Southeastern states subject to regulatory approval. The deal values the prescript files at $165M, which the analyst views as a "good valuation" particularly since Walgreens will also acquire the associated pharmacy inventory for up to $36M. Wolf believes the strategic basis for Walgreens to pay this "solid" valuation for the prescription files from Fred's was fortified by its recent purchase of 1,932 Rite Aid (RAD) stores, many in the same Southeastern footprint as Fred's. The analyst reiterates a Hold rating and $2 price target on Fred's shares.

TODAY'S FREE FLY STORIES

BMO

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SFTBF

SoftBank

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IBM

IBM

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3.9 (2.76%)

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CELC

Celcuity

$26.90

0.4 (1.51%)

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DVN

Devon Energy

$37.08

0.98 (2.71%)

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VIA

Viacom

$36.07

1.11 (3.18%)

, VIAB

Viacom

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1.05 (3.30%)

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Viacom launches Nickelodeon Chinese Animation Development Project, Variety says »

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VIA

Viacom

$36.07

1.11 (3.18%)

VIAB

Viacom

$32.83

1.05 (3.30%)

IQ

iQIYI

$25.91

-0.19 (-0.73%)

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  • 16

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BHP

BHP Billiton

$48.48

0.38 (0.79%)

17:38
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BHP Billiton reports Q1 iron ore output 61.4M tons, up 10% from last year »

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UBER

Uber

$0.00

(0.00%)

17:37
10/16/18
10/16
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17:37
Periodicals
Uber increases junk-bond offering to $2B, Bloomberg says »

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IBM

IBM

$145.02

3.9 (2.76%)

17:32
10/16/18
10/16
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17:32
Hot Stocks
IBM says growth was led by hybrid cloud, analytics and AI, digital and security »

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  • 16

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NDAQ

Nasdaq

$81.93

1.91 (2.39%)

, ICE

IntercontinentalExchange

$74.95

2.18 (3.00%)

17:31
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Hot Stocks
SEC confirms ruling that Nasdaq, NYSE didn't justify rate increases »

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NDAQ

Nasdaq

$81.93

1.91 (2.39%)

ICE

IntercontinentalExchange

$74.95

2.18 (3.00%)

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  • 24

    Oct

IAU

iShares Gold Trust

$11.74

-0.005 (-0.04%)

17:28
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Syndicate
Breaking Syndicate news story on iShares Gold Trust »

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VICR

Vicor Corporation

$38.35

1.42 (3.85%)

17:26
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Earnings
Vicor Corporation reports Q3 EPS 32c vs. 0c in Q317 »

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  • 18

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10/16/18
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Conference/Events
Stephens restaurants analyst to hold a dinner meeting »

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VTVT

vTv Therapeutics

$2.88

-0.08 (-2.70%)

17:22
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Hot Stocks
vTv Therapeutics jumps 22% after announcing presentations for CTAD conference »

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HCSG

Healthcare Services

$40.69

1.07 (2.70%)

17:19
10/16/18
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Earnings
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GD

General Dynamics

$194.75

2.06 (1.07%)

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  • 24

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BA

Boeing

$368.10

9.29 (2.59%)

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ROKU

Roku

$63.67

1.97 (3.19%)

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  • 13

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TSLA

Tesla

$276.46

16.88 (6.50%)

, GM

General Motors

$32.34

0.23 (0.72%)

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Periodicals
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Tesla

$276.46

16.88 (6.50%)

GM

General Motors

$32.34

0.23 (0.72%)

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  • 29

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BFIN

BankFinancial

$14.44

-0.06 (-0.41%)

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SBH

Sally Beauty

$18.91

0.42 (2.27%)

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TGT

Target

$85.81

1.22 (1.44%)

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  • 28

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HWC

Hancock Whitney

$44.47

0.02 (0.04%)

17:03
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Earnings
Hancock Whitney reports Q3 EPS 96c with items, consensus 83c »

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  • 17

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PNFP

Pinnacle Financial

$55.20

-0.52 (-0.93%)

17:02
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  • 17

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MO

Altria Group

$60.77

-0.67 (-1.09%)

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