Alpine Associates Management Inc. Has $31.29 Million Holdings in Albertsons Companies, Inc. (NYSE:ACI)

Alpine Associates Management Inc. cut its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 65.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,593,175 shares of the company’s stock after selling 2,957,942 shares during the period. Albertsons Companies makes up approximately 1.9% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 16th largest holding. Alpine Associates Management Inc. owned about 0.27% of Albertsons Companies worth $31,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC grew its stake in Albertsons Companies by 108.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the period. CIBC Asset Management Inc grew its stake in Albertsons Companies by 4.9% in the third quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock valued at $357,000 after acquiring an additional 895 shares during the period. Capital Advisors Ltd. LLC grew its stake in Albertsons Companies by 225.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after acquiring an additional 959 shares during the period. Synovus Financial Corp grew its stake in Albertsons Companies by 10.0% in the third quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock valued at $244,000 after acquiring an additional 1,197 shares during the period. Finally, Arizona State Retirement System grew its stake in Albertsons Companies by 1.4% in the fourth quarter. Arizona State Retirement System now owns 109,337 shares of the company’s stock valued at $2,147,000 after acquiring an additional 1,498 shares during the period. 71.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACI. Morgan Stanley decreased their target price on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Bank of America started coverage on Albertsons Companies in a report on Friday, December 13th. They set a “neutral” rating and a $22.00 target price on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 target price on shares of Albertsons Companies in a research note on Tuesday, January 7th. Finally, Evercore ISI raised their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Albertsons Companies presently has an average rating of “Moderate Buy” and an average price target of $23.21.

Albertsons Companies Trading Up 2.3 %

ACI opened at $21.46 on Friday. The company’s 50 day moving average is $20.31 and its 200-day moving average is $19.48. Albertsons Companies, Inc. has a 1-year low of $17.00 and a 1-year high of $21.67. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. The company has a market cap of $12.43 billion, a P/E ratio of 12.05, a PEG ratio of 1.92 and a beta of 0.50.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. During the same period last year, the company posted $0.79 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that Albertsons Companies, Inc. will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were paid a $0.15 dividend. This is an increase from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, January 24th. Albertsons Companies’s dividend payout ratio (DPR) is presently 33.71%.

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.