Kroger Co (KR) to Issue Dividend Increase – $0.14 Per Share

Kroger Co (NYSE:KR) announced a quarterly dividend on Thursday, June 28th, RTT News reports. Stockholders of record on Wednesday, August 15th will be given a dividend of 0.14 per share on Saturday, September 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, August 14th. This is a positive change from Kroger’s previous quarterly dividend of $0.13.

Kroger has increased its dividend by an average of 13.0% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Kroger has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kroger to earn $2.28 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 24.6%.

NYSE:KR traded up $0.46 during trading hours on Friday, reaching $31.50. The company’s stock had a trading volume of 7,356,500 shares, compared to its average volume of 10,473,840. The stock has a market cap of $24.78 billion, a PE ratio of 15.29, a PEG ratio of 2.19 and a beta of 0.95. Kroger has a 1 year low of $19.69 and a 1 year high of $32.40. The company has a quick ratio of 0.29, a current ratio of 0.76 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last issued its earnings results on Thursday, June 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $37.53 billion for the quarter, compared to analysts’ expectations of $37.25 billion. Kroger had a net margin of 2.93% and a return on equity of 29.59%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. sell-side analysts anticipate that Kroger will post 2.12 EPS for the current year.

In other news, Director Susan J. Kropf sold 13,000 shares of Kroger stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $28.43, for a total transaction of $369,590.00. Following the sale, the director now owns 101,171 shares of the company’s stock, valued at approximately $2,876,291.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Carin L. Fike sold 4,000 shares of Kroger stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $28.76, for a total transaction of $115,040.00. Following the sale, the vice president now directly owns 29,361 shares in the company, valued at approximately $844,422.36. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

A number of equities analysts recently commented on KR shares. Zacks Investment Research upgraded shares of Kroger from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, August 21st. ValuEngine cut shares of Kroger from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. TheStreet raised shares of Kroger from a “c+” rating to a “b” rating in a report on Friday, June 29th. Credit Suisse Group set a $30.00 price target on shares of Kroger and gave the stock a “buy” rating in a report on Thursday, May 17th. Finally, Moffett Nathanson lowered shares of Kroger from a “buy” rating to a “neutral” rating in a report on Friday, May 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.38.

Kroger Company Profile

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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