Warren Buffett's Berkshire Hathaway disclosed a new stake in Kroger after the closing bell Friday. Shares of the nation's largest supermarket surged 6% on the news.
Berkshire Hathaway bought nearly 19 million shares in Kroger during the fourth quarter, a purchase that makes Berkshire one of the 10 largest holders of the company's stock.The move is an interesting one given that Berkshire also owns a small position in Amazon , the online retailing giant that has disrupted the grocery business through its purchase of Whole Foods and food delivery offerings for Amazon Prime customers.Buffett has long been a fan of the retail and food industries.
Berkshire is also the parent of See's Candies, Dairy Queen and the Pampered Chef brand of cookware.Read MoreBerkshire recently made a bet on high end furniture company RH , the firm formerly known as Restoration Hardware. It disclosed that stake in November and added to the position in the last three months of 2019.The company also disclosed a new stake in biotech firm Biogen during the fourth quarter. Shares of Biogen rose nearly 2% after hours.
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