5 Best Stocks Under $50 According to Billionaire Ray Dalio

3. The Kroger Co. (NYSE:KR)

Bridgewater Associates’ Stake Value: $104,465,000

Percentage of Bridgewater Associates’ 13F Portfolio: 0.42%

Share Price as of June 27: $48.75

Number of Hedge Fund Holders: 45

On June 16, The Kroger Co. (NYSE:KR) announced earnings for the first quarter of fiscal year 2023. The company reported earnings per share of $1.45 and beat estimates by $0.17. Moreover, the company’s revenue for the quarter amounted to $44.60 billion, up 8% year over year, and outperformed Wall Street consensus by $1.54 billion.

On June 23, The Kroger Co. (NYSE:KR) declared a quarterly cash dividend of $0.26 per share of the company’s common stock. This dividend marks an increase of 23.8% over the company’s prior dividend of $0.21. The dividend is payable on September 1, to shareholders of record on August 15.

As of June 27, The Kroger Co. (NYSE:KR) has gained 23.73% over the past twelve months and is offering a dividend yield of 1.74%. Bridgewater Associates is bullish on the stock and in the first quarter of 2022, the hedge fund raised its stakes in the Kroger Co. (NYSE:KR) by 33%, bringing them to $104.46 million. The Kroger Co. (NYSE:KR) is currently trading at $48.75.

On June 21, MKM Partners analyst Bill Kirk raised his price target on The Kroger Co. (NYSE:KR) to $55 from $48 and reiterated a Neutral rating on the shares.

At the close of the first quarter of 2022, 45 hedge funds disclosed ownership of stakes in The Kroger Co. (NYSE:KR). The total stakes of these hedge funds amounted to $5.16 billion, up from $4.15 billion in the prior quarter with 41 positions.