A substantial insider move unfolded on March 18, as Jabbar, Senior Vice President at Kroger (NYSE:KR), reported the acquisition of stock options for 19,849 shares in an SEC filing.
What Happened: In a Form 4 filing with the U.S. Securities and Exchange Commission on Monday, Jabbar, Senior Vice President at Kroger, acquired stock options for 19,849 shares of KR. These options provide Jabbar with the right to purchase the company's stock at $55.51 per share.
The Monday morning update indicates Kroger shares down by 0.57%, currently priced at $55.74. At this value, Jabbar's 19,849 shares are worth $4,565.
Delving into Kroger's Background
Kroger is the leading U.S. grocer, with 2,719 supermarkets operating under several banners throughout the country at the end of fiscal 2022. Around 83% of stores have pharmacies, while nearly 60% also sell fuel. The company also operates roughly 120 fine jewelry stores. Kroger features a leading private-label offering and manufactures around 30% of its own-brand units (and more than 40% of its grocery own-label assortment) itself in 33 food production plants nationwide. Kroger is a top-two grocer in most of its major markets (as of early 2021, according to company data). Virtually all of Kroger's sales come from the United States. Kroger has offered to acquire Albertsons in a $25 ...