The Kroger Co. (NYSE:KR – Get Free Report) declared a quarterly dividend on Friday, January 19th, RTT News reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.29 per share on Friday, March 1st. This represents a $1.16 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, February 14th.
Kroger has increased its dividend payment by an average of 17.4% per year over the last three years and has increased its dividend annually for the last 18 consecutive years. Kroger has a dividend payout ratio of 26.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kroger to earn $4.34 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 26.7%.
Kroger Trading Down 0.1 %
NYSE KR opened at $45.41 on Monday. Kroger has a 12 month low of $42.10 and a 12 month high of $50.36. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.80 and a quick ratio of 0.33. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.37 and a beta of 0.45. The company’s fifty day moving average price is $45.57 and its two-hundred day moving average price is $45.58.
Hedge Funds Weigh In On Kroger
Several large investors have recently bought and sold shares of the stock. Orion Portfolio Solutions LLC increased its stake in Kroger by 239.9% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 34,023 shares of the company’s stock valued at $1,599,000 after buying an additional 24,012 shares during the period. Imprint Wealth LLC acquired a new position in shares of Kroger in the 2nd quarter worth approximately $1,762,000. GTS Securities LLC acquired a new position in shares of Kroger in the 2nd quarter worth approximately $351,000. Equitable Holdings Inc. grew its stake in shares of Kroger by 90.0% in the 2nd quarter. Equitable Holdings Inc. now owns 18,624 shares of the company’s stock worth $875,000 after purchasing an additional 8,824 shares during the last quarter. Finally, Invesco LLC acquired a new position in shares of Kroger in the 2nd quarter worth approximately $212,000. Institutional investors and hedge funds own 78.98% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on KR shares. TheStreet upgraded shares of Kroger from a “c+” rating to a “b” rating in a research report on Thursday, November 30th. Morgan Stanley reduced their price target on shares of Kroger from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, December 1st. Stephens reduced their price target on shares of Kroger from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, December 1st. JPMorgan Chase & Co. cut their price objective on shares of Kroger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, December 1st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $55.00 price objective on shares of Kroger in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Kroger has a consensus rating of “Hold” and a consensus price target of $53.30.
Kroger Company Profile
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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