Stocks

Don’t Take My Word For It, Just Ask The Kroger Insiders

Three weeks ago, I wrote a post about the demise of Kroger Supermarket,

Kroger Is Getting Amazoned

And now it’s not just in the digital world that Kroger must compete against Amazon.  The Wall Street Journal reported last week that Amazon is planning to open dozens of grocery stores in several U.S. cities.

Kroger is in the process of getting Amazoned…oh, I already said that, but need to emphasize this point before going to the monthly chart.

Corporate officers and members of the board of directors have deeper insight into a company’s operations than any analyst or hedge fund.  Quite simply, they are in the top tier when it comes to the Smart Money.  The insider investment strategy is an investment strategy that follows the buying and selling decisions of insiders.

A Kroger Co. director has completed the largest outright stock sale by a company insider in six years.

Robert Beyer sold 80,000 shares of downtown Cincinnati-based Kroger (NYSE: KR), the nation’s largest operator of traditional supermarkets, last week for just shy of $2 million, according to Securities and Exchange Commission filings. Beyer, who is Kroger’s lead director and chairman of Los Angeles-based private investment firm Chaparal Investments, sold the shares at an average price of $24.52, roughly the market price for Kroger stock at the time.

No Kroger insider has sold more company stock at one time that wasn’t tied to stock options in six years, according to S&P Capital IQ.

Source

Since I made the post, the stock price broke out to the downside of the wedge, final target remains at $16.50.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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