+ Watch KR
on My Watchlist
The Company manufactures and processes some of the food for sale in its supermarkets. It operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the United States.
The company appears to be about as solid as a non-Whole Foods grocer can be. Rev and Gross Profit have risen nicely over the past several years, and the only drag on Op Income seems to be depreciation. At $23/share, the dividend yield is 2%, while the payout ratio on a FCF basis is only 19%. Even though the dividend has grown 50% since 2007, there is still plenty of room for dividend growth. The company has been aggressively buying back shares, but based on a back of the envelope calculation, they've averaged a price of $25 or so, which isn't horrible. Income to debt is about 20%, versus about 10% for SWY or SVU. I don't currently have a position in KR, but I might add one relatively soon.
I appreciate your positive outlook. As a employee of Kroger (Fred Meyer actually) an a stock holder I look forward to more dividend growth. Thank you for your time and input.
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