Long-Term Returns of Carl Icahn’s 10 Activist Targets

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2. The Kroger Co. (NYSE:KR)

Stock Return: -16.99%
S&P 500 Return: – 18.27%
Investment date: 3/9/2022

The Kroger Co. (NYSE:KR) is a food and drug retailer in the United States. It operates food and drug stores and multi-department stores across the United States. Icahn invested in the company in early 2022 and consequently submitted a plan to nominate two candidates for the board. The investor had previously voiced his concerns about animal welfare and the use of gestation crates in pork production.

He has also taken issue with The Kroger Co. (NYSE:KR)’s egregious wage gaps between the CEO and other employees. Nevertheless, Icahn has insisted that his proxy fight with the board is not to profit but to make a difference in the glaring injustices at the company.

His investment in The Kroger Co. (NYSE:KR) has lost about 16.99% since 2022, a period in which the S&P 500 has also lost 18.27%.

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