Te Ahumairangi Investment Management Ltd Cuts Stake in Albertsons Companies, Inc. (NYSE:ACI)

Te Ahumairangi Investment Management Ltd lessened its holdings in Albertsons Companies, Inc. (NYSE:ACI) by 34.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,572 shares of the company’s stock after selling 112,100 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Albertsons Companies were worth $4,136,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ACI. Eagle Bay Advisors LLC raised its stake in shares of 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 in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Albertsons Companies by 225.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after purchasing an additional 959 shares during the period. EverSource Wealth Advisors LLC raised its position in Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after purchasing an additional 1,358 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Albertsons Companies by 91.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,610 shares of the company’s stock valued at $169,000 after buying an additional 4,101 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Albertsons Companies during the fourth quarter worth about $179,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

Albertsons Companies Stock Performance

Shares of Albertsons Companies stock opened at $22.38 on Wednesday. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.92 and a beta of 0.50. The firm’s fifty day simple moving average is $20.83 and its 200-day simple moving average is $19.70. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. Albertsons Companies, Inc. has a 12 month low of $17.00 and a 12 month high of $22.40.

Albertsons Companies (NYSE:ACI) last announced its earnings results on Wednesday, January 8th. The company reported $0.71 EPS 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 business had revenue of $18.77 billion during the quarter, compared to analysts’ expectations of $18.82 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, January 24th. Albertsons Companies’s dividend payout ratio (DPR) is 33.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Albertsons Companies from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, March 13th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a research report on Tuesday, March 11th. Bank of America began coverage on Albertsons Companies in a report on Friday, December 13th. They issued a “neutral” rating and a $22.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, February 4th. Finally, Citigroup started coverage on Albertsons Companies in a report on Friday, January 24th. They issued a “buy” rating and a $26.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

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.