5 Dividend Stocks to Buy According to Jim Simons’ Renaissance Technologies

2. The Kroger Co. (NASDAQ:KR)

Renaissance Technologies Stake Value: $792,589,000

The Kroger Co. (NASDAQ:KR) is an Ohio-based retail company that operates supermarkets and multi-department stores across the U.S. On June 23, the company announced a 24% hike in its quarterly dividend to $0.26 per share. This marked the company’s 16th consecutive year of dividend growth. As of August 29, the stock’s dividend yield came in at 2.15%.

In Q2, Renaissance Technologies owned over 16.7 million shares in The Kroger Co. (NASDAQ:KR), valued at $793 million. The hedge fund raised its position in the company by 2% during the quarter, with it representing 0.93% of the fund’s 13F portfolio.

In June, MKM Partners lifted its price target on The Kroger Co. (NASDAQ:KR) to $55 with a ‘Neutral’ rating on the shares.

As per Insider Monkey’s Q2 database, 49 hedge funds owned stakes in The Kroger Co. (NASDAQ:KR), growing from 45 in the previous quarter. Those stakes were collectively valued at over $4.3 billion, compared with $5.1 billion worth of KR shares owned by hedge funds in Q1.