Albertsons Companies, Inc. (NYSE:ACI) Stake Trimmed by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its position in shares of Albertsons Companies, Inc. (NYSE:ACI) by 5.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 84,832 shares of the company’s stock after selling 4,700 shares during the period. Wolverine Asset Management LLC’s holdings in Albertsons Companies were worth $1,568,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Albertsons Companies by 108.4% during the second quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock valued at $47,000 after acquiring an additional 1,230 shares during the period. Blue Trust Inc. grew its position in Albertsons Companies by 2,948.4% during the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock worth $62,000 after purchasing an additional 2,801 shares in the last quarter. UniSuper Management Pty Ltd grew its position in Albertsons Companies by 133.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock worth $105,000 after purchasing an additional 2,800 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Albertsons Companies during the 2nd quarter valued at $126,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Albertsons Companies in the second quarter valued at $150,000. 71.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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. Telsey Advisory Group reiterated a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a report on Friday, October 11th. Melius Research upgraded shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, October 21st. Tigress Financial reiterated a “buy” rating and issued a $27.00 price objective on shares of Albertsons Companies in a research note on Monday, October 21st. Finally, Wells Fargo & Company reissued 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.58.

Albertsons Companies Stock Up 0.5 %

Albertsons Companies stock opened at $19.36 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. Albertsons Companies, Inc. has a 1-year low of $17.80 and a 1-year high of $23.47. The firm’s fifty day simple moving average is $18.59 and its 200-day simple moving average is $19.60. The company has a market capitalization of $11.22 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.13 and a beta of 0.49.

Albertsons Companies (NYSE:ACI) last posted its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $18.55 billion for 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 revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Sell-side analysts forecast that Albertsons Companies, Inc. will post 2.13 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were given a dividend of $0.12 per share. The ex-dividend date was Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.48%. Albertsons Companies’s payout ratio is currently 28.07%.

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.