Harris Teeter Receives Buyout Offer -- Stock Up 306% Since Purchase And Is Now a "Hold"
Harris Teeter Supermarkets Inc. (HTSI), a member of our High-Dividend Blue Chip Stock Portfolio, has received an offer from Kroger Co. (KR) to purchase HTSI for $49.38 per share. HTSI, formerly known as Ruddick Corporation, has seen its stock produce a return of 306.1% (assuming dividend reinvestment) since it was added to this portfolio. HTSI shareholders have not yet approved the deal. In the meantime, we have changed HTSI to a "hold."
Through yesterday, our High-Dividend Blue Chip Stock Portfolio has produced a total return of 331.7%
versus 80.6% for the S&P 500 since inception in 2003. Annual returns over those 10 years are 15.4% versus the S&P 500's 5.9%.
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