Albertsons Companies, Inc. $ACI Stake Reduced by Towerview LLC

Towerview LLC reduced its position in Albertsons Companies, Inc. (NYSE:ACI) by 18.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 505,435 shares of the company’s stock after selling 114,565 shares during the period. Albertsons Companies comprises approximately 7.8% of Towerview LLC’s holdings, making the stock its 4th largest position. Towerview LLC owned approximately 0.09% of Albertsons Companies worth $10,872,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Peddock Capital Advisors LLC lifted its holdings in shares of Albertsons Companies by 1.9% during the second 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 in the last quarter. Mason Investment Advisory Services Inc. raised its position in Albertsons Companies by 0.7% in the 2nd quarter. Mason Investment Advisory Services Inc. now owns 78,586 shares of the company’s stock worth $1,690,000 after buying an additional 524 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Albertsons Companies by 0.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 83,260 shares of the company’s stock valued at $1,791,000 after acquiring an additional 623 shares during the period. Fifth Third Bancorp grew its stake in shares of Albertsons Companies by 20.9% in the second quarter. Fifth Third Bancorp now owns 3,624 shares of the company’s stock worth $78,000 after acquiring an additional 627 shares during the period. Finally, Applied Finance Capital Management LLC raised its holdings in shares of Albertsons Companies by 5.0% during the first quarter. Applied Finance Capital Management LLC now owns 14,517 shares of the company’s stock valued at $319,000 after purchasing an additional 685 shares during the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $4,427,500.00. Following the transaction, the insider owned 300,577 shares of the company’s stock, valued at approximately $5,786,107.25. This represents a 43.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael T. Theilmann sold 100,000 shares of Albertsons Companies stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $19.35, for a total value of $1,935,000.00. Following the completion of the sale, the executive vice president owned 338,429 shares of the company’s stock, valued at $6,548,601.15. The trade was a 22.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ACI shares. Barclays initiated coverage on Albertsons Companies in a research note on Monday, July 21st. They set an “underweight” rating and a $19.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Albertsons Companies from $27.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Royal Bank Of Canada decreased their price objective on shares of Albertsons Companies from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Tigress Financial raised their price target on Albertsons Companies from $28.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Zacks Research upgraded Albertsons Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, August 25th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Stock Performance

ACI stock opened at $17.47 on Friday. Albertsons Companies, Inc. has a twelve month low of $16.70 and a twelve month high of $23.20. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.85 and a beta of 0.52. The business’s fifty day simple moving average is $18.27 and its two-hundred day simple moving average is $20.12. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.25.

Albertsons Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 24th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, October 24th. Albertsons Companies’s dividend payout ratio is currently 35.50%.

About Albertsons Companies

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.