River Road Asset Management LLC increased its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 44.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,639 shares of the company’s stock after purchasing an additional 137,399 shares during the quarter. River Road Asset Management LLC’s holdings in Albertsons Companies were worth $8,781,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its stake in Albertsons Companies by 2.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,935 shares of the company’s stock valued at $353,000 after buying an additional 505 shares during the last quarter. American Trust Investment Advisors LLC raised its stake in Albertsons Companies by 2.8% in the second quarter. American Trust Investment Advisors LLC now owns 36,725 shares of the company’s stock valued at $722,000 after buying an additional 1,005 shares during the last quarter. Outfitter Financial LLC raised its stake in Albertsons Companies by 2.4% in the second quarter. Outfitter Financial LLC now owns 62,725 shares of the company’s stock valued at $1,233,000 after buying an additional 1,485 shares during the last quarter. American International Group Inc. raised its stake in Albertsons Companies by 210.2% in the first quarter. American International Group Inc. now owns 2,463 shares of the company’s stock valued at $47,000 after buying an additional 1,669 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. raised its stake in Albertsons Companies by 9.4% in the first quarter. Prentiss Smith & Co. Inc. now owns 20,961 shares of the company’s stock valued at $400,000 after buying an additional 1,793 shares during the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.
Albertsons Companies stock traded up $0.15 during midday trading on Wednesday, hitting $29.78. 4,104 shares of the company were exchanged, compared to its average volume of 1,798,707. The firm has a market capitalization of $13.89 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 1.12 and a beta of 0.05. Albertsons Companies, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $34.09. The business has a fifty day simple moving average of $25.76 and a two-hundred day simple moving average of $21.48. The company has a debt-to-equity ratio of 4.80, a quick ratio of 0.46 and a current ratio of 1.10.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 10th. Shareholders of record on Monday, July 26th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, July 23rd. Albertsons Companies’s payout ratio is currently 12.35%.
A number of equities research analysts have commented on ACI shares. Credit Suisse Group increased their price target on Albertsons Companies from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Albertsons Companies from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 19th. Zacks Investment Research upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, July 27th. Barclays upgraded Albertsons Companies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $19.00 to $27.00 in a research note on Wednesday, August 11th. Finally, Morgan Stanley raised their price objective on Albertsons Companies from $15.00 to $20.00 and gave the stock an “underweight” rating in a research note on Monday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.64.
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. As of February 27, 2021, it operated 2,277 stores under various banners, including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets, and Balducci's Food Lovers Market; and 1,727 pharmacies, 1,313 in-store branded coffee shops, 400 adjacent fuel centers, 22 distribution centers, and 20 manufacturing facilities, as well as various digital platforms.
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