CINCINNATI—Todd A. Foley, Senior Vice President and Interim CFO of Kroger Co . (NYSE:KR), recently executed several stock transactions involving the company's common stock, according to a filing with the Securities and Exchange Commission dated December 19, 2024. The transactions come as Kroger trades near its 52-week high of $63.59, with the stock delivering an impressive 36.49% return year-to-date. According to InvestingPro analysis, the company maintains a GOOD financial health score.
Foley sold a total of 16,932 shares of Kroger common stock, realizing approximately $1.04 million. The shares were sold at prices ranging from $61.43 to $61.48 per share. Based on InvestingPro's Fair Value analysis, Kroger's stock is currently trading at fair value levels.
Additionally, Foley exercised stock options to acquire 24,191 shares at prices between $22.92 and $37.48, resulting in a total transaction value of approximately $705,474. Following these transactions, Foley holds 53,782 shares of Kroger common stock directly. For deeper insights into Kroger's valuation metrics and additional ProTips, including its 19-year dividend growth streak, visit InvestingPro, where you'll find comprehensive research reports and detailed financial analysis.
In other recent news, Kroger Co. has announced the redemption of $4.7 billion in senior notes, a decision that follows the termination of a proposed merger with Albertsons Companies (NYSE:ACI), Inc. The company has also launched a $7.5 billion share repurchase program, including a $5 billion accelerated share repurchase. BMO Capital Markets maintained its Market Perform rating on Kroger but increased the stock's price target from $60.00 to $63.00, factoring in potential earnings from the share repurchase program. Guggenheim also maintained a Buy rating on Kroger and increased the stock's price target to $65, citing the company's diverse profit streams and potential for share buybacks.
In the wake of these developments, Kroger's CEO, Rodney McMullen, emphasized the company's strategy to deliver value and growth, citing investments in lowering grocery prices, wage increases, and capital investments for store improvements. Albertsons' CEO, Vivek Sankaran, expressed disappointment in the court's decision to block the merger but emphasized the company's strong financial condition and positive business performance.
These recent developments have significant implications for both companies' future strategies, with a renewed focus on internal growth and stockholder returns. Analysts from BMO Capital Markets and Guggenheim have adjusted their expectations and ratings for Kroger accordingly, highlighting the potential impact of these changes on the company's future performance.
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