Jim Simons’ Portfolio in 2022: Top 5 Stock Picks

3. The Kroger Co. (NYSE:KR)

Renaissance Technologies’ Stake Value: $942.44 million

Percentage of Renaissance Technologies’ 13F Portfolio: 1.1%

Number of Hedge Fund Holders: 41

The Kroger Co. (NYSE:KR) is a retail giant based in the United States which operates a range of food and drug stores, multi-department stores, and warehouses. It offers its shareholder a solid dividend yield of 1.73% as of May 20, and has grown its yield for 16 years in a row.

Jim Simons’ owned 16.42 million shares of The Kroger Co. (NYSE:KR) at a value of $942.44 million, amounting to a 1.1% slice of his total holdings. At the close of Q4 2021, 41 hedge funds were long on the company shares, compared to 39 in the previous quarter.

BofA analyst Robert Ohmes upgraded The Kroger Co. (NYSE:KR) to ‘Buy’ from ‘Neutral’ on April 8, with a price target of $75, up from $61. The analyst notes that the firm’s market share trends could be improving, given broad-based inflation is driving consumers to retailers with more variety as individuals shift their consumption.

In March, The Kroger Co. (NYSE:KR) announced a strategic partnership with NVIDIA (NASDAQ:NVDA) to “reimagine the shopping experience using AI-enabled applications and services.” The two firms will build an AI lab along with a demonstration centre to expand Kroger’s freshness initiatives, improve shipping logistics, and create a better shopping experience in stores through digital twin simulations.