Anuj Dhanda Sells 230,000 Shares of Albertsons Companies (NYSE:ACI) Stock

Albertsons Companies, Inc. (NYSE:ACI) insider Anuj Dhanda sold 230,000 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were 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 in the company, valued at approximately $5,786,107.25. This trade represents a 43.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Albertsons Companies Price Performance

Shares of ACI opened at $19.77 on Friday. The firm has a fifty day simple moving average of $18.55 and a two-hundred day simple moving average of $20.41. The firm has a market cap of $10.86 billion, a PE ratio of 11.70, a P/E/G ratio of 3.29 and a beta of 0.49. The company has a current ratio of 0.81, a quick ratio of 0.18 and a debt-to-equity ratio of 2.25. Albertsons Companies, Inc. has a 1-year low of $16.70 and a 1-year high of $23.20.

Albertsons Companies Dividend Announcement

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 given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, October 24th. Albertsons Companies’s dividend payout ratio (DPR) is presently 35.50%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Albertsons Companies in the 2nd quarter worth $320,613,000. AQR Capital Management LLC grew its position in shares of Albertsons Companies by 1,601.1% during the first quarter. AQR Capital Management LLC now owns 4,729,259 shares of the company’s stock worth $103,807,000 after purchasing an additional 4,451,250 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Albertsons Companies during the 2nd quarter valued at approximately $81,463,000. Voya Investment Management LLC boosted its stake in Albertsons Companies by 6,541.5% in the 1st quarter. Voya Investment Management LLC now owns 3,723,616 shares of the company’s stock worth $81,882,000 after purchasing an additional 3,667,550 shares during the period. Finally, Sound Shore Management Inc CT bought a new position in Albertsons Companies in the 2nd quarter worth approximately $65,530,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Albertsons Companies in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Albertsons Companies from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Royal Bank Of Canada dropped their price target on shares of Albertsons Companies from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Bank of America reduced their price objective on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $24.00 target price on shares of Albertsons Companies in a research report on Wednesday. Twelve 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.