Kenneth C. Kimball, Senior Vice President of The Kroger Co . (NYSE:KR), sold 30,251 shares of company stock on April 25, 2024, for a total transaction value exceeding $1.69 million. The shares were sold at prices ranging from $55.97 to $56.00, with a weighted average price of $55.98 per share. The transaction was disclosed in a recent filing with the Securities and Exchange Commission.
On the same day, Kimball also acquired 30,251 shares of Kroger common stock at a price of $28.05 per share, amounting to a total of approximately $848,540. These shares were acquired through the exercise of non-qualified stock options that were part of a long-term incentive plan, vesting annually over four years.
Following the sale, Kimball's direct holdings in Kroger common stock decreased, though he still owns a significant number of shares, including those acquired through the company's employee benefit plans. It is noted that between January 1 and March 31, 2024, he acquired an additional 211.9492 shares as part of these plans.
The recent transactions by Kimball reflect a common practice among executives to exercise and sell stock options as part of their compensation and financial planning strategies. For investors, such activities can provide insight into the confidence that company insiders have in the business's prospects and financial health.
Kroger Co. remains one of the largest grocery retailers, with its headquarters located in Cincinnati, Ohio. The company continues to serve its customers through a variety of formats, including supermarkets, multi-department stores, marketplace stores, and price-impact warehouses.
Investors and stakeholders in The Kroger Co. can access full details of the transactions upon request, as indicated in the footnotes of the SEC filing.
InvestingPro Insights
As The Kroger Co. (NYSE:KR) continues to navigate the complex landscape of the grocery retail market, recent financial metrics and InvestingPro Tips provide a deeper understanding of the company's performance and strategic positioning. With a market capitalization of $40.12 billion and a P/E ratio of 18.64, Kroger stands out as a prominent player in the Consumer Staples Distribution & Retail industry. The company has demonstrated resilience with a revenue growth of 6.44% in Q1 2024, reflecting a steady demand for its offerings despite the competitive environment.
An InvestingPro Tip highlights Kroger's commitment to shareholder returns, as the company has raised its dividend for 18 consecutive years. This is further supported by a significant dividend growth of 11.54% over the last twelve months as of Q1 2024. Moreover, the company's strong return over the last three months, with a price total return of 21.53%, indicates a positive reception from the market.
Investors may also find the company's profitability reassuring; analysts predict Kroger will be profitable this year, and it has been profitable over the last twelve months. However, it's worth noting that 15 analysts have revised their earnings downwards for the upcoming period, suggesting that potential headwinds could impact future performance.
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