Convergence Investment Partners LLC Has $464,000 Stock Holdings in Albertsons Companies, Inc. $ACI

Convergence Investment Partners LLC cut its position in Albertsons Companies, Inc. (NYSE:ACI) by 39.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,586 shares of the company’s stock after selling 13,947 shares during the period. Convergence Investment Partners LLC’s holdings in Albertsons Companies were worth $464,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Peddock Capital Advisors LLC boosted its stake in Albertsons Companies by 1.9% during the 2nd quarter. Peddock Capital Advisors LLC now owns 26,567 shares of the company’s stock valued at $571,000 after purchasing an additional 504 shares during the last quarter. Mason Investment Advisory Services Inc. increased its holdings in Albertsons Companies by 0.7% during the 1st quarter. Mason Investment Advisory Services Inc. now owns 78,062 shares of the company’s stock worth $1,717,000 after purchasing an additional 568 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in Albertsons Companies by 0.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 83,260 shares of the company’s stock worth $1,791,000 after purchasing an additional 623 shares in the last quarter. Fifth Third Bancorp increased its holdings in Albertsons Companies by 20.9% during the 2nd quarter. Fifth Third Bancorp now owns 3,624 shares of the company’s stock worth $78,000 after purchasing an additional 627 shares in the last quarter. Finally, Applied Finance Capital Management LLC increased its holdings in Albertsons Companies by 5.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 14,517 shares of the company’s stock worth $319,000 after purchasing an additional 685 shares in the last quarter. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Albertsons Companies Stock Performance

NYSE:ACI opened at $18.81 on Tuesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.20 and a current ratio of 0.81. Albertsons Companies, Inc. has a 52-week low of $16.70 and a 52-week high of $23.20. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 3.04 and a beta of 0.49. The business’s fifty day moving average is $18.55 and its 200 day moving average is $20.31.

Albertsons Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, October 24th. Albertsons Companies’s payout ratio is presently 35.50%.

Insiders Place Their Bets

In related news, EVP Michael T. Theilmann sold 100,000 shares of the business’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $19.35, for a total transaction of $1,935,000.00. Following the sale, the executive vice president directly owned 338,429 shares in the company, valued at approximately $6,548,601.15. The trade was a 22.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anuj Dhanda sold 230,000 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $19.25, for a total value of $4,427,500.00. Following the completion of the sale, the insider owned 300,577 shares in the company, valued at $5,786,107.25. This trade represents a 43.35% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research raised Albertsons Companies from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Albertsons Companies in a report on Wednesday, October 8th. Bank of America reduced their target price on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. UBS Group reduced their target price on Albertsons Companies from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Albertsons Companies from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Company Profile

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company’s food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. It also manufactures and processes food products for sale in stores.