The Kroger Co. (NYSE:KR – Get Free Report) declared a quarterly dividend on Thursday, June 25th. Stockholders of record on Saturday, August 15th will be given a dividend of 0.39 per share on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 14th. This is a 11.4% increase from Kroger’s previous quarterly dividend of $0.35.
Kroger has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 19 consecutive years. Kroger has a payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kroger to earn $5.56 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 28.1%.
Kroger Trading Up 0.1%
Kroger stock opened at $57.84 on Friday. Kroger has a 52 week low of $55.60 and a 52 week high of $76.58. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.39 and a current ratio of 0.79. The firm has a market capitalization of $35.43 billion, a PE ratio of 34.02, a PEG ratio of 1.55 and a beta of 0.42. The business’s 50-day simple moving average is $64.45 and its 200-day simple moving average is $66.06.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on KR shares. Citigroup lowered their price objective on shares of Kroger from $71.00 to $61.00 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays set a $61.00 price objective on shares of Kroger and gave the company an “equal weight” rating in a research report on Monday. UBS Group set a $63.00 target price on Kroger and gave the stock a “neutral” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating and set a $82.00 price target on shares of Kroger in a research note on Friday, June 19th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $75.00 price objective on shares of Kroger in a research report on Thursday, March 5th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.94.
Read Our Latest Stock Report on KR
Kroger Company Profile
The Kroger Co (NYSE: KR) is one of the largest supermarket operators in the United States, offering a wide range of retail grocery and related services. Founded in Cincinnati in 1883 by Bernard Kroger, the company operates a portfolio of supermarket and multi-department store banners and provides customers with fresh foods, packaged groceries, deli and bakery items, meat and seafood, produce, and prepared foods. Kroger’s stores commonly include pharmacy services and fuel centers, positioning the company as a broad-based neighborhood retail destination for everyday needs.
In addition to traditional in-store retailing, Kroger manufactures and distributes a variety of private-label brands and operates its own food production and supply-chain facilities.
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