44,497 Shares in Albertsons Companies, Inc. (NYSE:ACI) Purchased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC acquired a new position in Albertsons Companies, Inc. (NYSE:ACI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 44,497 shares of the company’s stock, valued at approximately $1,023,000.

Several other hedge funds have also recently bought and sold shares of ACI. NBC Securities Inc. purchased a new stake in shares of Albertsons Companies during the 3rd quarter worth about $28,000. Blue Trust Inc. raised its stake in shares of Albertsons Companies by 255.1% during the 4th quarter. Blue Trust Inc. now owns 1,463 shares of the company’s stock worth $34,000 after purchasing an additional 1,051 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Albertsons Companies during the 4th quarter worth about $45,000. UniSuper Management Pty Ltd purchased a new stake in shares of Albertsons Companies during the 2nd quarter worth about $46,000. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Albertsons Companies during the 4th quarter worth about $51,000. 71.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ACI. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a research note on Wednesday. Tigress Financial reaffirmed a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a research note on Friday, January 12th. Roth Mkm increased their price objective on Albertsons Companies from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective on shares of Albertsons Companies in a report on Tuesday, February 13th. Finally, Evercore ISI lowered their price objective on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.85.

Albertsons Companies Stock Performance

ACI traded down $0.08 during midday trading on Friday, reaching $20.38. The company’s stock had a trading volume of 825,788 shares, compared to its average volume of 3,428,872. The stock has a market cap of $11.74 billion, a P/E ratio of 8.71, a PEG ratio of 0.96 and a beta of 0.50. The company has a fifty day simple moving average of $20.93 and a 200 day simple moving average of $21.69. The company has a current ratio of 0.85, a quick ratio of 0.19 and a debt-to-equity ratio of 3.09. Albertsons Companies, Inc. has a twelve month low of $19.88 and a twelve month high of $23.88.

Albertsons Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, April 25th. Albertsons Companies’s dividend payout ratio (DPR) is currently 20.51%.

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.