Westchester Capital Management LLC Cuts Stake in Albertsons Companies, Inc. (NYSE:ACI)

Westchester Capital Management LLC cut its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,383,603 shares of the company’s stock after selling 62,768 shares during the quarter. Albertsons Companies comprises approximately 1.1% of Westchester Capital Management LLC’s portfolio, making the stock its 19th biggest position. Westchester Capital Management LLC owned approximately 0.24% of Albertsons Companies worth $25,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ACI. FMR LLC lifted its stake in shares of Albertsons Companies by 88.1% in the third quarter. FMR LLC now owns 16,841,582 shares of the company’s stock worth $311,232,000 after buying an additional 7,887,688 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Albertsons Companies by 25.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock valued at $114,033,000 after acquiring an additional 1,239,978 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Albertsons Companies by 38.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,426,264 shares of the company’s stock valued at $67,669,000 after acquiring an additional 956,744 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Albertsons Companies by 25.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,624,692 shares of the company’s stock valued at $91,337,000 after purchasing an additional 924,519 shares during the last quarter. Finally, Lubert Adler Management Company LP increased its holdings in shares of Albertsons Companies by 47.1% in the 2nd quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock worth $52,629,000 after purchasing an additional 852,857 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Albertsons Companies Stock Up 1.1 %

ACI stock opened at $19.83 on Friday. The business’s 50-day moving average price is $18.74 and its 200-day moving average price is $19.50. The stock has a market cap of $11.49 billion, a P/E ratio of 11.60, a PEG ratio of 1.15 and a beta of 0.49. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. Albertsons Companies, Inc. has a twelve month low of $17.80 and a twelve month high of $23.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. On average, equities research analysts forecast that Albertsons Companies, Inc. will post 2.13 EPS for the current year.

Albertsons Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Monday, October 28th. Albertsons Companies’s dividend payout ratio is currently 28.07%.

Analyst Upgrades and Downgrades

ACI has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price target on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a report on Wednesday, October 16th. Tigress Financial reaffirmed a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research report on Monday, October 21st. Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Melius Research upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, October 21st. Finally, Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.58.

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. It also manufactures and processes food products for sale in stores.