Kroger Climbs on Warren Buffett Endorsement
By Kim Khan
Investing.com - Grocery store chain Kroger (NYSE:KR) rose Tuesday as Warren Buffett revealed he had given the stock his golden seal of approval.
Buffett’s Berkshire Hathaway (NYSE:BRKa) reported a position in the stock when it filed its 13-F regulatory update of its holdings after the bell Friday.
Kroger rose 6% in afternoon trading today, the first trading day since the filing was made due to Monday’s federal holiday.
Berkshre Hathaway reported a new position in Kroger of about 18.94 million shares.
Before today’s rise, Kroger had been up 4.5% in the last three months.
Buffett’s company also announced a new position in Biogen (NASDAQ:BIIB), as well as new investments in two ETFs, the SPDR S&P 500 (NYSE:SPY) and the Vanguard S&P 500 ETF (NYSE:VOO).
Berkshire Hathaway (NYSE:BRKa) lowered its exposure to financials, decreasing its positions in Wells Fargo (NYSE:WFC), Goldman Sachs (NYSE:GS) and Travelers (NYSE:TRV).