Kroger Co (KR) Plans $0.13 Quarterly Dividend
Kroger Co (NYSE:KR) announced a quarterly dividend on Friday, January 19th, RTT News reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.125 per share on Thursday, March 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.72%.
Kroger has increased its dividend by an average of 13.0% annually over the last three years and has increased its dividend every year for the last 9 years. Kroger has a payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kroger to earn $1.98 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 25.3%.
Shares of Kroger (NYSE:KR) traded up $0.39 during trading hours on Friday, hitting $29.06. The stock had a trading volume of 10,559,500 shares, compared to its average volume of 9,861,258. Kroger has a 12 month low of $19.69 and a 12 month high of $34.99. The company has a market capitalization of $26,220.00, a PE ratio of 17.30, a PEG ratio of 3.76 and a beta of 0.93. The company has a current ratio of 0.85, a quick ratio of 0.31 and a debt-to-equity ratio of 2.11.
Several research analysts have commented on the stock. Citigroup boosted their price objective on shares of Kroger from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, December 26th. Stephens set a $29.00 price objective on shares of Kroger and gave the company a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Kroger from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. TheStreet upgraded shares of Kroger from a “c+” rating to a “b” rating in a research report on Wednesday, December 27th. Finally, ValuEngine downgraded shares of Kroger from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Seventeen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Kroger presently has an average rating of “Hold” and a consensus price target of $29.48.
In other Kroger news, VP Michael Joseph Donnelly sold 15,400 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $27.66, for a total transaction of $425,964.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Carin L. Fike sold 1,538 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $25.61, for a total transaction of $39,388.18. Following the sale, the vice president now directly owns 25,956 shares in the company, valued at approximately $664,733.16. The disclosure for this sale can be found here. Insiders have sold 58,868 shares of company stock worth $1,607,426 in the last ninety days. Insiders own 0.85% of the company’s stock.
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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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