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Company dumps Kroger shares
Friday, July 18, 2008
CINCINNATI — Obermeyer Asset Management Co. dumped all 1,075 shares they owned of Kroger Co., according to a filing with the U.S. Securities and Exchange Commission July 17.
The Aspen-based investment firm dropped the stock despite the fact that Cincinnati-based Kroger posted impressive second-quarter results, beating analysts expectations by earning $386 million in the quarter ending May 24, a 15 percent increase over the first quarter. Its total shares also increased 7 percent.
With the move, 760 different institutions own Kroger stock.
Kroger operates 2,474 stores under 24 banners in 31 states.
Contact this reporter at (513) 705-2843 or jheffner@coxohio.com.
