I want to agree with you, but when? Pricing of Kroger has had no logic or predictability for 12 years. (The Dillon years.) Up, down, sideways. Trends last days, not months. During the depth of the financial crisis, Kroger held it's on against Home Depot, Lowes, Macys, etc. All of those stocks have recovered and reached pre crisis levels.
I'm placing blame on know nothing analyst and an executive suite that The institutional investors simply do not like.