If you are eyeing Kroger stock and wondering whether it still has upside after a sustained run, you are definitely not alone. This grocery giant has quietly delivered an impressive 24.5% return over the last year, and a substantial 130.7% return over the past five years. While that growth has caught the attention of long-term investors, the last month has also seen a steady 2.5% climb, even in the face of some headline-making changes, including the announcement that 1,000 corporate jobs are being cut after Kroger’s high-profile Albertsons deal fell through.

Despite a swirl of news around leadership transitions and ongoing efforts to boost efficiency, market sentiment has remained surprisingly resilient. In fact, Kroger shares have…