Harvest Management LLC lifted its stake in Albertsons Companies, Inc. (NYSE:ACI – Free Report) by 325.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,900 shares of the company’s stock after purchasing an additional 92,500 shares during the quarter. Albertsons Companies accounts for about 1.1% of Harvest Management LLC’s investment portfolio, making the stock its 18th largest holding. Harvest Management LLC’s holdings in Albertsons Companies were worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACI. Holocene Advisors LP grew its stake in shares of Albertsons Companies by 55.8% in the 3rd quarter. Holocene Advisors LP now owns 386,358 shares of the company’s stock valued at $7,140,000 after buying an additional 138,323 shares in the last quarter. Athos Capital Ltd increased its holdings in shares of Albertsons Companies by 10.8% during the 3rd quarter. Athos Capital Ltd now owns 445,262 shares of the company’s stock worth $8,228,000 after purchasing an additional 43,400 shares during the period. Maverick Capital Ltd. acquired a new position in Albertsons Companies in the 3rd quarter valued at approximately $1,113,000. Captrust Financial Advisors raised its stake in shares of Albertsons Companies by 59.6% in the third quarter. Captrust Financial Advisors now owns 71,151 shares of the company’s stock valued at $1,315,000 after purchasing an additional 26,582 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Albertsons Companies by 5.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,159,736 shares of the company’s stock worth $39,912,000 after acquiring an additional 115,030 shares during the period. Institutional investors and hedge funds own 71.35% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on ACI shares. BMO Capital Markets lowered their target price on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a report on Wednesday, October 16th. Melius upgraded shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, October 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a research note on Friday, October 11th. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Finally, Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.58.
Albertsons Companies Trading Down 2.0 %
ACI opened at $19.45 on Tuesday. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.16 and a beta of 0.49. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. Albertsons Companies, Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $23.47. The company’s 50 day moving average price is $18.78 and its two-hundred day moving average price is $19.47.
Albertsons Companies (NYSE:ACI – Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. As a group, research analysts predict that Albertsons Companies, Inc. will post 2.13 earnings per share for the current year.
Albertsons Companies Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were issued a $0.12 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.47%. Albertsons Companies’s dividend payout ratio is presently 28.07%.
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.
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