logo
Plus   Neg
Share
Email

Stock Alert: Warren Buffett's Berkshire Hathaway Reveals Stake In Kroger, Biogen

Warren Buffett's business conglomerate Berkshire Hathaway Inc. (BRK.A, BRK.B), on February 14, disclosed its equity portfolio for the fourth quarter of 2019, listing new stakes in The Kroger (KR) and Biogen (BIIB).

Berkshire Hathaway bought a 2.4% stake in one of the largest grocery retailers in the country, Kroger for $549 million. The news sent the Kroger stock up by 5.84% during after hours. The stock had closed Friday's trading at $28.23, close to its 52-week high of $29.97. Kroger shares have been on the rise from July last year with more than 30% gain in the last seven months.

The retailer is estimated to announce its fourth-quarter results on March 5. Analysts polled by Thomson Reuters expect earnings to be $0.55 per share on revenue of $28.83 billion in the quarter.

The famed investor also took a 0.4% stake in biotech giant Biogen for $192 million, lifting the stock up 2.1% after-hours. BIIB has been trading in a range of $215.778- $374.99 in the past one year.

Biogen had reported fourth-quarter earnings on January 30 with an earnings surprise of $0.32 per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT