Kroger Co (NYSE:KR) declared a quarterly dividend on Thursday, March 14th, RTT News reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.14 per share on Saturday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 2.26%.
Kroger has raised its dividend payment by an average of 10.3% annually over the last three years and has raised its dividend every year for the last 10 years. Kroger has a dividend payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kroger to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 23.3%.
Shares of KR stock traded up $0.09 during trading hours on Thursday, hitting $24.82. 3,339,180 shares of the company were exchanged, compared to its average volume of 10,851,722. The firm has a market cap of $19.73 billion, a P/E ratio of 11.76, a PEG ratio of 1.46 and a beta of 0.66. Kroger has a 1 year low of $23.05 and a 1 year high of $32.74. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.76 and a quick ratio of 0.28.
In other Kroger news, Director Robert D. Beyer sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $27.39, for a total value of $1,369,500.00. Following the sale, the director now directly owns 230,722 shares in the company, valued at $6,319,475.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert D. Beyer sold 26,078 shares of the firm’s stock in a transaction on Monday, December 31st. The shares were sold at an average price of $27.46, for a total value of $716,101.88. Following the completion of the sale, the director now owns 230,722 shares in the company, valued at $6,335,626.12. The disclosure for this sale can be found here. Insiders sold 115,188 shares of company stock worth $3,202,992 over the last quarter. 1.07% of the stock is currently owned by company insiders.
Several brokerages have issued reports on KR. Zacks Investment Research raised shares of Kroger from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, February 5th. Stephens set a $30.00 price objective on shares of Kroger and gave the company a “hold” rating in a research report on Friday, December 7th. Morgan Stanley lowered their price objective on shares of Kroger from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, March 8th. Buckingham Research began coverage on shares of Kroger in a research report on Thursday, February 7th. They issued an “underperform” rating and a $28.18 price objective for the company. Finally, Loop Capital set a $30.00 price objective on shares of Kroger and gave the company a “hold” rating in a research report on Friday, December 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.53.
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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