Martingale Asset Management L P Sells 44,330 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Martingale Asset Management L P cut its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 8.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 478,312 shares of the company’s stock after selling 44,330 shares during the quarter. Martingale Asset Management L P owned approximately 0.08% of Albertsons Companies worth $8,839,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank lifted its holdings in shares of Albertsons Companies by 9.2% during the third quarter. Swiss National Bank now owns 1,117,200 shares of the company’s stock valued at $20,646,000 after acquiring an additional 94,300 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Albertsons Companies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,722 shares of the company’s stock valued at $12,395,000 after acquiring an additional 36,154 shares during the period. Lubert Adler Management Company LP lifted its holdings in shares of Albertsons Companies by 47.1% during the second quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock valued at $52,629,000 after acquiring an additional 852,857 shares during the period. Tidal Investments LLC lifted its holdings in shares of Albertsons Companies by 109.7% during the first quarter. Tidal Investments LLC now owns 57,054 shares of the company’s stock valued at $1,223,000 after acquiring an additional 29,849 shares during the period. Finally, Versor Investments LP lifted its holdings in shares of Albertsons Companies by 24.1% during the third quarter. Versor Investments LP now owns 166,202 shares of the company’s stock valued at $3,071,000 after acquiring an additional 32,305 shares during the period. 71.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Melius upgraded 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. Melius Research upgraded 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. BMO Capital Markets lowered their target price on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, October 16th. Tigress Financial restated a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.58.

Albertsons Companies Price Performance

Shares of ACI stock opened at $19.83 on Friday. The stock has a 50-day moving average price of $18.74 and a 200 day moving average price of $19.50. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.15 and a beta of 0.49. Albertsons Companies, Inc. has a 12 month low of $17.80 and a 12 month high of $23.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 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 analyst estimates of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. Research analysts expect that Albertsons Companies, Inc. will post 2.13 EPS 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 given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.42%. Albertsons Companies’s payout ratio is currently 28.07%.

About Albertsons Companies

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.