Kroger Co . (NYSE:KR) Senior Vice President and Interim Chief Financial Officer, Todd A. Foley, has recently sold a portion of his company stock, according to a new filing with the Securities and Exchange Commission. The transactions, which took place on April 26, 2024, resulted in the sale of a total of 6,616 shares of common stock, netting Foley over $368,000.
The sales were executed in two separate transactions, with 373 shares sold at a price of $55.75 each, and 6,243 shares sold at prices ranging from $55.69 to $55.75 per share. These transactions followed an acquisition of 8,005 shares on the same day through the exercise of options at a price of $38.33 per share, amounting to a total of approximately $306,831.
The Form 4 filing also disclosed that these options were granted under a long-term incentive plan of The Kroger Co. and vested in equal annual installments at the rate of 20% per year over a five-year period that commenced one year after the date of the grant.
Following the sale, Foley's direct ownership in the company stands at 46,958 shares of common stock. The recent stock sale by a key executive may be of interest to investors and market watchers, as insider transactions can provide insights into a company's financial health and future prospects.
Kroger Co. is one of the largest grocery retailers in the United States, with numerous supermarket chains under its corporate umbrella. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol KR.
Investors and stakeholders are often keen to monitor the buying and selling activities of company insiders, as these can be indicative of the executives' confidence in the company's performance and outlook. While the reasons for such transactions can vary, they are regularly reported to the SEC and made available to the public for scrutiny.
The transactions come at a time when the retail industry is navigating a dynamic market environment, with Kroger Co. continuing to adapt its business strategies to meet changing consumer demands and competitive pressures.
InvestingPro Insights
As investors consider the implications of insider transactions like those of Kroger Co.'s Senior Vice President and Interim CFO, Todd A. Foley, it's important to look at the broader financial context provided by InvestingPro data and insights. Kroger (NYSE:KR) has demonstrated a track record of consistent dividend growth, having raised its dividend for 18 consecutive years, signaling a commitment to returning value to shareholders. This is further substantiated by a strong return over the last six months, with a price total return of 26.52%, outperforming many peers in the Consumer Staples Distribution & Retail industry.
InvestingPro data shows a robust market capitalization of $39.97B USD, with a P/E ratio of 18.52, which adjusts to a more attractive 11.53 when looking at the last twelve months as of Q4 2024. Revenue growth remains steady at 1.2% for the same period, and the company's gross profit margin stands at a healthy 22.96%. These figures suggest that Kroger maintains a solid financial foundation amidst the dynamic retail landscape.
For those seeking further insights, there are additional InvestingPro Tips available, including analysis on the company's short-term obligations versus liquid assets and predictions on its profitability this year. To explore more exclusive tips that could guide investment decisions, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date approaching on June 13, 2024, and the company's fair value assessed at $62.91 USD by InvestingPro, compared to the analyst target of $58 USD, stakeholders have a positive outlook to consider. Kroger's financial health, as indicated by the metrics and the additional 15 InvestingPro Tips available, may provide a comprehensive view of the company's potential trajectory for those monitoring the market's evolving trends.
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