MCF Advisors LLC has reduced their stake in The Kroger Co. (NYSE:KR), while Kingswood Wealth Advisors LLC and Wedmont Private Capital have increased theirs. Meanwhile, a Senior Vice President at Kroger sold 15,000 shares. The company has unveiled a 10% dividend hike and recently released its Q1 2024 results, which exceeded expectations in both earnings and revenue.
Kroger's sales have seen a surge driven by a sustained trend in grocery spending. The company's intensive digital sales and delivery growth were highlighted in its Q1 2024 earnings call, and it reaffirmed its guidance for FY 2024. Despite their quarterly earnings being perceived as soft, they are better than they appear. However, this marked their first decline in 12 quarters.
Kroger's $25 billion merger plan with Albertsons was announced but has been delayed due to objections from Colorado and regulatory issues from the FTC. The deal is considered CEO Rodney McMullen's biggest bet. Even so, Kroger's high-quality business is deemed steadfast irrespective of merger complications.
The company also disclosed a new goal for its produce suppliers concerning biodiversity and has recognized 'Zero Heroes' across the U.S. Furthermore, they've initiated a CFO transition plan, promoting Todd Foley.
The Kroger KR News Analytics from Fri, 08 Sep 2023 07:00:00 GMT to Sun, 30 Jun 2024 11:30:19 GMT - Rating 6 - Innovation 4 - Information 8 - Rumor -4
