Kroger Co (KR) to Issue $0.14 Quarterly Dividend

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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.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.03). Kroger had a net margin of 2.57% and a return on equity of 23.50%. The business had revenue of $28.09 billion during the quarter, compared to analysts’ expectations of $28.38 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was down 9.5% on a year-over-year basis. Analysts expect that Kroger will post 2.23 earnings per share for the current fiscal year.

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.

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About Kroger

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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Dividend History for Kroger (NYSE:KR)

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