The Kroger Co. (NYSE:KR – Get Free Report) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.32 per share on Sunday, December 1st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, November 15th.
Kroger has increased its dividend payment by an average of 17.4% per year over the last three years and has increased its dividend every year for the last 19 years. Kroger has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kroger to earn $4.63 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 27.6%.
Kroger Stock Performance
Kroger stock opened at $55.39 on Friday. The firm has a market capitalization of $39.98 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.80 and a beta of 0.47. Kroger has a one year low of $42.10 and a one year high of $58.34. The stock’s 50 day moving average price is $53.66 and its 200 day moving average price is $53.84. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.45 and a current ratio of 0.86.
Insider Transactions at Kroger
In other Kroger news, VP Carin L. Fike sold 3,010 shares of Kroger stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total value of $167,265.70. Following the completion of the transaction, the vice president now directly owns 47,593 shares in the company, valued at $2,644,743.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Brian W. Nichols sold 2,000 shares of Kroger stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $54.53, for a total value of $109,060.00. Following the sale, the vice president now directly owns 18,063 shares in the company, valued at approximately $984,975.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the sale, the vice president now owns 47,593 shares in the company, valued at approximately $2,644,743.01. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Evercore ISI lifted their price objective on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. BMO Capital Markets upgraded Kroger from a “market perform” rating to an “outperform” rating and increased their target price for the company from $58.00 to $60.00 in a research note on Tuesday, June 18th. Telsey Advisory Group restated an “outperform” rating and issued a $62.00 price target on shares of Kroger in a research note on Monday, September 9th. Finally, Morgan Stanley increased their price objective on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.09.
About Kroger
The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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