Cannon Global Investment Management LLC Makes New Investment in Albertsons Companies, Inc. (NYSE:ACI)

Cannon Global Investment Management LLC acquired a new stake in shares of Albertsons Companies, Inc. (NYSE:ACI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,500 shares of the company’s stock, valued at approximately $804,000. Albertsons Companies accounts for approximately 1.3% of Cannon Global Investment Management LLC’s holdings, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in ACI. Geneos Wealth Management Inc. acquired a new position in Albertsons Companies during the first quarter valued at approximately $41,000. Signaturefd LLC boosted its position in Albertsons Companies by 108.4% during the 2nd quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock worth $47,000 after purchasing an additional 1,230 shares during the period. Blue Trust Inc. increased its holdings in Albertsons Companies by 2,948.4% in the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,801 shares in the last quarter. UniSuper Management Pty Ltd raised its position in Albertsons Companies by 133.3% in the first quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock valued at $105,000 after purchasing an additional 2,800 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in shares of Albertsons Companies during the second quarter worth about $126,000. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Albertsons Companies Stock Up 3.1 %

Shares of ACI stock traded up $0.56 during trading hours on Friday, hitting $18.66. 4,272,124 shares of the company were exchanged, compared to its average volume of 3,050,650. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 1.05 and a beta of 0.49. Albertsons Companies, Inc. has a one year low of $17.80 and a one year high of $23.47. The business’s 50-day simple moving average is $18.74 and its two-hundred day simple moving average is $19.67. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.22 and a current ratio of 0.90.

Albertsons Companies (NYSE:ACI) last released its earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter last year, the business posted $0.60 EPS. Albertsons Companies’s quarterly revenue was up 1.4% compared to the same quarter last year. Sell-side analysts predict that Albertsons Companies, Inc. will post 2.17 EPS for the current fiscal year.

Albertsons Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.48 annualized dividend and a yield of 2.57%. Albertsons Companies’s payout ratio is 28.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ACI shares. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a research note on Friday, October 11th. Melius raised 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. BMO Capital Markets lowered their price target on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Finally, Tigress Financial reiterated a “buy” rating and issued a $27.00 price objective on shares of Albertsons Companies in a report on Monday, October 21st. Four research 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.com, Albertsons Companies presently has a consensus rating of “Moderate Buy” and an average price target 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.