{"id":45602,"date":"2016-06-23T19:36:00","date_gmt":"2016-06-23T19:36:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2016\/06\/kroger-kr\/"},"modified":"2016-06-23T19:36:00","modified_gmt":"2016-06-23T19:36:00","slug":"kroger-kr","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/fr-ca\/2016\/06\/kroger-kr\/","title":{"rendered":"Kroger (KR)"},"content":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui, nous discutons de Kroger (KO), un des plus grands r\u00e8seaux d’\u00e8piciers au monde avec des revenus d\u00e8passant 110G$ au cours des 12 derniers mois. Les r\u00e8sultats du premier trimestre de Kroger ont \u00e8t\u00e8 mis-\u00e0-jour jeudi pass\u00e8 dans StockPointer. Download <\/a><\/p>\n

Pour la premi\u00e8re fois depuis juillet 2014, la valeur intrins\u00e8que se situe au-dessus du prix de l’action, un signal tr\u00e8s positif, d’autant plus que le croisement des courbes est provoqu\u00e8 par la croissance de la valeur intrins\u00e8que. Ce bond de la valeur intrins\u00e8que est expliqu\u00e8 par la croissance remarquable du NOPAT au cours des 12 derniers mois. Bien que celui-ci ait augment\u00e8 \u00e0 chaque ann\u00e8e depuis 5 ans \u00e0 un taux de croissance moyen d’environ 12%, la croissance a \u00e8t\u00e8 beaucoup plus forte (17%) lors de la derni\u00e8re ann\u00e8e. Le rendement sur capital de 10.4% est le plus \u00e8lev\u00e8 observ\u00e8 en 5 ans.<\/p>\n

Au niveau de la valeur, le ratio P\/VI nous indique un potentiel d’appr\u00e8ciation de la valeur du titre d’environ 10%. Par contre, vu que l’action s’est n\u00e8goci\u00e8e au-del\u00e0 de sa valeur intrins\u00e8que depuis 2 ans, il se pourrait tr\u00e8s bien qu’elle la d\u00e8passe \u00e0 nouveau si le titre peut retrouver le momentum qu’il avait \u00e0 la fin 2015. \u00c9tant donn\u00e8 la croissance du NOPAT de 17% au cours des 12 derniers mois, la prime de 13.7% indiqu\u00e8 par la valeur de croissance future (FGV) parait raisonnable.<\/p>\n

L’EVA de Kroger a elle aussi bondit au dernier trimestre, et se retrouve \u00e0 un sommet sur 5 ans. Notons \u00e8galement que le ratio cours\/b\u00e8n\u00e8fice de 15.8 est lui aussi tr\u00e8s raisonnable en relation avec le c\/b moyen du S&P500 de 24 et de 22.6 pour l’industrie des produits alimentaires.<\/p>\n

Pour terminer avec la performance comptable, l’entreprise a \u00e8t\u00e8 en mesure de faire cro\u00eetre son chiffre d’affaires \u00e0 chaque ann\u00e8e depuis 5 ans \u00e0 un taux de croissance moyen de 5%. Le dividende, lui, augmente beaucoup plus rapidement, soit \u00e0 un taux de croissance moyen de 17% sur 5 ans. Le ratio de distribution (payout) est aussi tr\u00e8s conservateur \u00e0 19%. Kroger g\u00e8n\u00e8re de fa\u00e7on constante des fonds lib\u00e8r\u00e8s positifs et ils sont \u00e0 leur point le plus \u00e8lev\u00e8 en 5 ans. La compagnie devrait donc \u00eatre en mesure de maintenir un taux de croissance du dividende \u00e8lev\u00e8 et de continuer \u00e0 effectuer des rachats d’actions tel qu’elle le fait depuis 5 ans.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui, nous discutons de Kroger (KO), un des plus grands r\u00e8seaux d’\u00e8piciers au monde avec des revenus d\u00e8passant 110G$ au cours des 12 derniers mois. Les r\u00e8sultats du premier trimestre de Kroger ont \u00e8t\u00e8 mis-\u00e0-jour jeudi pass\u00e8 dans StockPointer. Download Pour la premi\u00e8re fois depuis juillet 2014, la valeur intrins\u00e8que se […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[211],"class_list":["post-45602","post","type-post","status-publish","format-standard","hentry","category-intelligence","tag-kr"],"acf":[],"yoast_head":"\nKroger (KR) - Inovestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inovestor.com\/fr-ca\/2016\/06\/kroger-kr\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kroger (KR)\" \/>\n<meta property=\"og:description\" content=\"Dans l’analyse de contenu d’aujourd’hui, nous discutons de Kroger (KO), un des plus grands r\u00e8seaux d’\u00e8piciers au monde avec des revenus d\u00e8passant 110G$ au cours des 12 derniers mois. 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