Kroger (NYSE:KR) declared a quarterly dividend on Thursday, March 15th, RTT News reports. Investors of record on Tuesday, May 15th will be given a dividend of 0.125 per share on Friday, June 1st. This represents a $0.50 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, May 14th.
Kroger has raised its dividend payment by an average of 13.0% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Kroger has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kroger to earn $2.29 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 21.8%.
KR traded down $0.04 on Friday, hitting $23.77. 8,797,066 shares of the stock traded hands, compared to its average volume of 10,132,233. Kroger has a 52 week low of $19.69 and a 52 week high of $31.45. The company has a quick ratio of 0.32, a current ratio of 0.78 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $20,985.22, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.97 and a beta of 1.04.
Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, March 8th. The company reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. Kroger had a return on equity of 29.27% and a net margin of 1.55%. The company had revenue of $31.03 billion for the quarter, compared to analyst estimates of $30.81 billion. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. equities research analysts expect that Kroger will post 2.06 EPS for the current year.
Kroger declared that its Board of Directors has approved a stock repurchase program on Thursday, March 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Robert W. Clark sold 11,000 shares of Kroger stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $29.57, for a total value of $325,270.00. Following the transaction, the insider now directly owns 130,780 shares of the company’s stock, valued at $3,867,164.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd A. Foley sold 3,800 shares of Kroger stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $24.43, for a total transaction of $92,834.00. Following the completion of the transaction, the vice president now directly owns 31,273 shares in the company, valued at $763,999.39. The disclosure for this sale can be found here. Insiders sold 62,800 shares of company stock worth $1,888,824 over the last three months. 0.85% of the stock is currently owned by insiders.
KR has been the topic of several recent analyst reports. ValuEngine downgraded Kroger from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Loop Capital set a $25.00 price objective on Kroger and gave the stock a “hold” rating in a report on Monday, March 26th. Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Friday, March 2nd. Stephens set a $29.00 price target on Kroger and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, Bank of America cut their price target on Kroger from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, March 9th. Seventeen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $27.14.
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The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food for sale in its supermarkets. The company operates retail food and drug stores, 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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