Convergence Investment Partners LLC Makes New $781,000 Investment in Albertsons Companies, Inc. (NYSE:ACI)

Convergence Investment Partners LLC bought a new position in Albertsons Companies, Inc. (NYSE:ACI) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,533 shares of the company’s stock, valued at approximately $781,000.

Other hedge funds have also added to or reduced their stakes in the company. Legato Capital Management LLC raised its stake in shares of Albertsons Companies by 19.2% in the first quarter. Legato Capital Management LLC now owns 107,221 shares of the company’s stock worth $2,358,000 after purchasing an additional 17,259 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Albertsons Companies by 268.8% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 353,357 shares of the company’s stock valued at $7,770,000 after acquiring an additional 257,534 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Albertsons Companies by 87.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 97,565 shares of the company’s stock valued at $2,145,000 after acquiring an additional 45,513 shares during the last quarter. Allianz Asset Management GmbH increased its position in Albertsons Companies by 297.4% during the first quarter. Allianz Asset Management GmbH now owns 950,441 shares of the company’s stock valued at $20,900,000 after acquiring an additional 711,296 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in Albertsons Companies during the first quarter valued at $2,012,000. 71.35% of the stock is owned by institutional investors.

Albertsons Companies Trading Up 1.2%

Shares of Albertsons Companies stock opened at $20.82 on Thursday. Albertsons Companies, Inc. has a 1-year low of $17.00 and a 1-year high of $23.20. The stock has a market cap of $11.98 billion, a P/E ratio of 12.69, a P/E/G ratio of 2.09 and a beta of 0.44. The stock’s 50 day simple moving average is $21.60 and its 200-day simple moving average is $21.24. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.82 and a quick ratio of 0.18.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, July 15th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. The firm had revenue of $24.88 billion during the quarter, compared to the consensus estimate of $24.68 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that Albertsons Companies, Inc. will post 2.14 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 25th will be paid a $0.15 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.60 annualized dividend and a yield of 2.88%. Albertsons Companies’s payout ratio is currently 36.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACI. JPMorgan Chase & Co. dropped their price target on Albertsons Companies from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday. Tigress Financial restated a “buy” rating and set a $28.00 price objective on shares of Albertsons Companies in a research report on Tuesday, July 8th. Roth Capital reiterated a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of Albertsons Companies in a report on Wednesday, July 16th. Telsey Advisory Group reiterated an “outperform” rating and issued a $24.00 price target on shares of Albertsons Companies in a report on Wednesday, July 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Albertsons Companies in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Albertsons Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.06.

Insider Buying and Selling

In other Albertsons Companies news, EVP Omer Gajial sold 47,303 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $21.46, for a total value of $1,015,122.38. Following the transaction, the executive vice president owned 162,569 shares in the company, valued at $3,488,730.74. The trade was a 22.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.35% of the stock is owned by company insiders.

Albertsons Companies 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.