Institutional owners and individual shareholders own Kroger. Kroger is owned by 79.07% institutional shareholders, 1.70% Kroger Co insiders, and 19.23% retail investors.
W. Rodney McMullen is the largest shareholder, owning 3.42M shares or around 0.48% of the company. The largest institutional investor is the Vanguard Group, which owns around 10% of the company.
In 1883, 23-year-old Bernard Kroger, the fifth of ten children of German immigrants, invested his life savings of $372 (roughly $10,000 in 2020) in opening a grocery store. By 1902, the Kroger Grocery and Baking Company had been incorporated.
By this time, the company had grown to forty stores and sold $1.75 million worth of merchandise each year. In addition, Kroger became the first grocery chain to have its own bakery.
In 1920, the company had begun a process of rapid expansion beyond the Cincinnati area. Kroger sold his shares and retired from the business in 1928. The following year the company was operating 5,575 stores -- more than ever before or since.
In the 1930s, street-corner grocery stores were being replaced by supermarkets, which were larger in size but fewer in number. The company assumed its present name in 1946.
Currently, the largest shareholder of Kroger is BlackRock Inc., with 10% of the total shares. Berkshire Hathaway Inc. is a close second with 8.4% of the total shares in Kroger and State Street Corp with 5%. Since 2014, Rodney McMullen has served as Kroger's CEO, and he has around 300,000 shares in Kroger.
As someone deeply familiar with corporate ownership structures and investments, I can confidently break down the concepts presented in the article about Kroger's ownership. The piece touches upon various crucial elements:
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Ownership Distribution: The article outlines the ownership structure of Kroger, highlighting three primary categories: institutional owners, individual shareholders (including insiders), and retail investors. Institutional investors hold the majority of shares (79.07%), while insiders (such as employees or executives) own 1.70%, and retail investors own 19.23%.
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Key Figures and Holdings:
- W. Rodney McMullen: The largest shareholder with 3.42 million shares, equivalent to approximately 0.48% ownership of Kroger.
- Vanguard Group: The largest institutional investor, possessing approximately 10% of Kroger's shares.
- BlackRock Inc.: Presently the largest shareholder of Kroger, holding 10% of the total shares.
- Berkshire Hathaway Inc.: Holds a significant stake of 8.4% in Kroger.
- State Street Corp: Holds 5% of the total shares.
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Historical Overview: Bernard Kroger's entrepreneurial journey in 1883, investing $372 (equivalent to about $10,000 in 2020) to open a grocery store. By 1902, his enterprise, Kroger Grocery and Baking Company, had expanded to forty stores, generating $1.75 million in annual sales. Notably, Kroger was the first grocery chain to establish its bakery.
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Growth and Evolution: The company's rapid expansion beyond Cincinnati by 1920, leading to a substantial increase in stores. By 1929, Kroger operated an impressive 5,575 stores, a pinnacle unmatched in its subsequent history. The evolution from small street-corner stores to larger, fewer supermarkets reflected the changing landscape in the 1930s.
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Company Milestones: The company adopted its present name, Kroger, in 1946.
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Leadership Details: Rodney McMullen has been CEO since 2014 and owns approximately 300,000 shares in Kroger.
Understanding the evolution of Kroger from its modest beginnings to becoming a retail giant involves comprehending its historical milestones, ownership shifts, and influential figures. This intricate web of ownership and historical context has shaped Kroger into the corporation it is today, influencing its strategies and direction.
