KLP Kapitalforvaltning AS Invests $2.29 Million in Albertsons Companies, Inc. (NYSE:ACI)

KLP Kapitalforvaltning AS bought a new stake in Albertsons Companies, Inc. (NYSE:ACI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 116,700 shares of the company’s stock, valued at approximately $2,292,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC lifted its stake in Albertsons Companies by 108.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Albertsons Companies by 225.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after purchasing an additional 959 shares during the period. Synovus Financial Corp lifted its stake in Albertsons Companies by 10.0% in the 3rd quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock valued at $244,000 after purchasing an additional 1,197 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Albertsons Companies by 316.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock worth $35,000 after purchasing an additional 1,358 shares during the period. Finally, Arizona State Retirement System raised its stake in Albertsons Companies by 1.4% in the fourth quarter. Arizona State Retirement System now owns 109,337 shares of the company’s stock valued at $2,147,000 after buying an additional 1,498 shares during the period. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Albertsons Companies Stock Performance

NYSE:ACI opened at $21.15 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93. Albertsons Companies, Inc. has a fifty-two week low of $17.00 and a fifty-two week high of $22.05. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.92 and a beta of 0.50. The stock has a fifty day moving average price of $20.68 and a 200-day moving average price of $19.61.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The firm had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. During the same period in the prior year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Albertsons Companies, Inc. will post 2.14 EPS for the current fiscal year.

Albertsons Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, January 24th. This is a boost from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 2.84%. Albertsons Companies’s dividend payout ratio is presently 33.71%.

Analyst Upgrades and Downgrades

ACI has been the subject of several research analyst reports. Morgan Stanley reduced their target price on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. UBS Group reduced their price objective on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Evercore ISI increased their price objective on shares of Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Tuesday, March 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $26.00 target price on shares of Albertsons Companies in a report on Tuesday, March 11th. Finally, Royal Bank of Canada upped their price target on shares of Albertsons Companies from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, March 13th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

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.