Swiss Life Asset Management Ltd cut its position in shares of Albertsons Companies, Inc. (NYSE:ACI – Free Report) by 52.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,892 shares of the company’s stock after selling 40,179 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Albertsons Companies were worth $633,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ACI. Goldman Sachs Group Inc. grew its holdings in shares of Albertsons Companies by 109.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,542,468 shares of the company’s stock worth $33,919,000 after buying an additional 806,336 shares in the last quarter. Empowered Funds LLC bought a new position in Albertsons Companies in the first quarter valued at approximately $1,090,000. M&T Bank Corp grew its stake in Albertsons Companies by 21.4% in the second quarter. M&T Bank Corp now owns 14,364 shares of the company’s stock valued at $308,000 after purchasing an additional 2,528 shares in the last quarter. First Trust Advisors LP grew its stake in Albertsons Companies by 39.3% in the second quarter. First Trust Advisors LP now owns 504,944 shares of the company’s stock valued at $10,861,000 after purchasing an additional 142,457 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in Albertsons Companies by 5.4% in the second quarter. Bank of Nova Scotia now owns 14,041 shares of the company’s stock valued at $302,000 after purchasing an additional 723 shares in the last quarter. 71.35% of the stock is currently owned by institutional investors.
Albertsons Companies Stock Performance
Shares of ACI stock opened at $16.41 on Friday. The company has a debt-to-equity ratio of 4.58, a current ratio of 0.86 and a quick ratio of 0.20. Albertsons Companies, Inc. has a one year low of $15.55 and a one year high of $22.78. The company has a fifty day moving average price of $16.91 and a two-hundred day moving average price of $17.34. The stock has a market cap of $8.11 billion, a P/E ratio of 51.27, a P/E/G ratio of 1.88 and a beta of 0.43.
Albertsons Companies Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, April 24th. This represents a $0.68 annualized dividend and a dividend yield of 4.1%. This is an increase from Albertsons Companies’s previous quarterly dividend of $0.15. Albertsons Companies’s dividend payout ratio is presently 212.50%.
Analyst Ratings Changes
ACI has been the subject of a number of analyst reports. Weiss Ratings downgraded Albertsons Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. UBS Group decreased their price target on Albertsons Companies from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price target on shares of Albertsons Companies in a research note on Monday, April 6th. JPMorgan Chase & Co. cut their price target on shares of Albertsons Companies from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Finally, Citigroup cut their price target on shares of Albertsons Companies from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.31.
Read Our Latest Analysis on Albertsons Companies
About Albertsons Companies
Albertsons Companies, Inc (NYSE: ACI) is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company’s retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.
Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.
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