When depositors think of the supermarket industry, self-motivated growth probably doesn’t come to mind. But Berkshire Hathaway CEO Warren Buffett loves Kroger. Wait there is one solid reason which could be that the stock price is cheap compared to earnings estimates.
The other thing is that Kroger Co. KR is working to increase online sales; Digital sales increased 16% in the first quarter of the fiscal year ending May 22 compared to the previous year. And more than doubled from two years earlier. Further development could come from the food retailer’s plans to build fulfilment centers to handle digital orders.
Furthermore, Berkshire Hathaway Inc. BRK.B, -0.12% BRK. A +0.06% accepted nearly 11 million shares of Kroger in the second quarter. According to its latest 13F report from the Securities and Exchange Commission. This brings its stake to 61.8 million shares, or about 8.3% of the shares outstanding as of May 22, the end of Kroger’s first fiscal quarter. While Berkshire appears to be fond of Kroger, which operates as Harris Teeter, Fred Kere, and King Sobers, among others, as well as Kroger, Wall Street is more sceptical.
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Within the Russell 3000 Index, which represents about 98% of the US stock market by market capitalization, there are only 10 companies in the “retail food” industry group, according to FactSet. Here, they are ranked by market capitalization, along with forwarding price-to-earnings ratios.
- The market value of the company. (Million Dollars) P/E.
- Walmart Inc. WMT, -0.03% $422,424 24.9
- Kroger Corporation KR, +4.58% $32,467 15.0
- Albertsons Cos. Inc. Class A ACI + 0.65% 13688 $13.5
- Sprouts Farmers Markets Inc. SFM + 2.52% $2,767 12.3
- Grocery Outlet Holding Corp. GO, +1.01% 2,565 $27.9
- Weis Markets Inc. WMK, +1.47% $1,502 N/A
- Arko Corp. ARKO, -0.48% 1033 $16.5
- Ingles Markets Inc. Class A IMKTA, +0.62% $917 N/A
- Natural Grocery from Vitamin Cottage Inc. NGVC, +1.80% $264 N/A
- Village Super Market Inc. Class A VLGEA, +0.09% $233 N/A