No. of Recommendations: 6
At the last reporting BRK owns ~$3.6B in Kroger which just bought my local grocer, Giant Eagle, for $1.65B.
Kroger has a $34B market cap and is down 3% in pre-market trading, currently sitting at $53.90/share which is a 52-week low. It's 52-week high is $76.58. It currently sports a 2.6% dividend if that is your bag. I suspect that Ted purchased this for BRK. Buys started in 4qtr2019 when it traded between $23-$29/sh and purchases ceased in 2qtr21 at about $35-38/share.
Giant Eagle is the 800lbs gorilla here but Costco, Walmart, Whole Foods, Aldi's, Trader Joes and some others are all slowly expanding in the area.
No. of Recommendations: 0
“ Giant Eagle is the 800lbs gorilla here but Costco, Walmart, Whole Foods, Aldi's, Trader Joes and some others are all slowly expanding in the area.”
Giant and these others are not the same. Everyone I know who shops at Costco and Trader Joe’s also goes to Giant. The real competition for giant in our area are the Korean grocery stores like H Mart (best fresh veggies you can find. ) and Wegmans (hands down the best grocery stores chain in America).
No. of Recommendations: 0
Wegmans first store is coming to the metro area in 2027. Maybe that is why Giant Eagle is getting out?
