Jul. 1 at 2:15 PM
$KR Bought more pre-market. Was trading at too depressed a level. If it gets pushed below
$54/share again I'll buy even more. Approaching 10x forward P/E and expecting to complete
$2B share buyback program by the end of FY26 (at the current price it represents about 6% of total shares outstanding).
Giant Eagle aquisition occurring at a lower price/sales ratio than
$KR currently trades at (even after stripping out
$KR fuel sales), but no info on what earnings multiple the acquisition was completed at, unfortunately. Add in what I'm assuming is going to be huge operational and cost improvements after integration (larger, more efficient logistics network, vastly larger purchasing/procurement network with better bargaining power, opportunities to strip out duplicate costs, and ability to sell more private label into Giant Eagle's locations).
Press release noted that it could take a little over 2 years to integrate fully. That's fine. I can wait. People will still need to eat in 2 years.
