Norden Group LLC Invests $4.22 Million in Albertsons Companies, Inc. (NYSE:ACI)

Norden Group LLC purchased a new position in shares of Albertsons Companies, Inc. (NYSE:ACI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 214,831 shares of the company’s stock, valued at approximately $4,219,000.

Other hedge funds have also made changes to their positions in the company. Eagle Bay Advisors LLC boosted its holdings in Albertsons Companies by 108.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Albertsons Companies by 225.1% in the fourth 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. R Squared Ltd acquired a new position in Albertsons Companies in the fourth quarter worth $179,000. Assenagon Asset Management S.A. acquired a new position in Albertsons Companies in the third quarter worth $185,000. Finally, DGS Capital Management LLC acquired a new position in Albertsons Companies in the third quarter worth $199,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

Albertsons Companies Price Performance

Shares of NYSE ACI opened at $21.05 on Friday. Albertsons Companies, Inc. has a fifty-two week low of $17.00 and a fifty-two week high of $21.67. The firm’s 50-day simple moving average is $20.21 and its 200 day simple moving average is $19.47. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. The stock has a market cap of $12.20 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.92 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings data 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 business had revenue of $18.77 billion for the quarter, compared to analysts’ expectations of $18.82 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts expect that Albertsons Companies, Inc. will post 2.14 EPS for the current year.

Albertsons Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were given a $0.15 dividend. The ex-dividend date was Friday, January 24th. This is a boost from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 2.85%. Albertsons Companies’s payout ratio is 33.71%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Bank of America assumed coverage on Albertsons Companies in a research note on Friday, December 13th. They issued a “neutral” rating and a $22.00 target price on the stock. UBS Group cut their target price on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 target price on shares of Albertsons Companies in a research note on Thursday, January 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Albertsons Companies in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.21.

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.