Kroger Company (The) Declares Quarterly Dividend of $0.13 (KR)
Kroger Company (The) (NYSE:KR) announced a quarterly dividend on Thursday, September 14th, RTT News reports. Stockholders of record on Wednesday, November 15th will be given a dividend of 0.125 per share on Friday, December 1st. This represents a $0.50 annualized dividend and a dividend yield of 2.30%.
Kroger Company (The) has raised its dividend payment by an average of 13.5% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Kroger Company (The) has a payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kroger Company (The) to earn $1.99 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 25.1%.
Kroger Company (NYSE KR) traded down 2.094% during midday trading on Thursday, hitting $21.275. The stock had a trading volume of 9,513,933 shares. Kroger Company has a 52-week low of $20.41 and a 52-week high of $36.44. The firm has a 50-day moving average of $23.02 and a 200 day moving average of $26.64. The firm has a market capitalization of $19.00 billion, a P/E ratio of 12.871 and a beta of 0.79.
Kroger Company (The) (NYSE:KR) last posted its quarterly earnings data on Friday, September 8th. The company reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Kroger Company (The) had a net margin of 1.32% and a return on equity of 28.04%. The business had revenue of $27.60 billion during the quarter, compared to the consensus estimate of $27.48 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that Kroger Company will post $1.97 EPS for the current year.
Several research analysts recently issued reports on KR shares. Wells Fargo & Company reissued a “buy” rating and set a $28.00 target price (down previously from $35.00) on shares of Kroger Company (The) in a report on Monday, June 12th. Royal Bank Of Canada reissued a “buy” rating and set a $34.00 target price on shares of Kroger Company (The) in a report on Tuesday, June 13th. Argus reissued a “buy” rating on shares of Kroger Company (The) in a report on Monday, June 19th. Deutsche Bank AG set a $26.00 target price on shares of Kroger Company (The) and gave the stock a “buy” rating in a report on Monday, June 19th. Finally, Vetr cut shares of Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $26.33 target price for the company. in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $28.58.
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In other Kroger Company (The) news, insider J Michael Schlotman purchased 2,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were purchased at an average cost of $22.73 per share, for a total transaction of $45,460.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan M. Phillips sold 6,200 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $21.17, for a total transaction of $131,254.00. Following the transaction, the director now owns 124,105 shares in the company, valued at $2,627,302.85. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.
Kroger Company (The) announced that its board has approved a stock buyback program on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
About Kroger Company (The)
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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