Polymer Capital Management US LLC Buys Shares of 32,479 Albertsons Companies, Inc. (NYSE:ACI)

Polymer Capital Management US LLC purchased a new position in Albertsons Companies, Inc. (NYSE:ACI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,479 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds have also recently made changes to their positions in ACI. Eagle Bay Advisors LLC grew its position in Albertsons Companies by 108.4% in the 4th 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 grew its holdings in shares of 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 acquiring an additional 959 shares during the period. EverSource Wealth Advisors LLC increased its position in Albertsons Companies by 316.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after acquiring an additional 1,358 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Albertsons Companies by 91.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,610 shares of the company’s stock valued at $169,000 after acquiring an additional 4,101 shares during the period. Finally, R Squared Ltd purchased a new position in Albertsons Companies in the fourth quarter worth about $179,000. 71.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACI has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Albertsons Companies in a research report on Thursday. Citigroup started coverage on shares of Albertsons Companies in a report on Friday, January 24th. They set a “buy” rating and a $26.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $26.00 price target on shares of Albertsons Companies in a research note on Tuesday, February 4th. Evercore ISI upped their price objective on Albertsons Companies from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 11th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $26.00 target price on shares of Albertsons Companies in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Albertsons Companies Stock Performance

NYSE:ACI opened at $21.95 on Monday. The company has a market cap of $12.71 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.92 and a beta of 0.47. Albertsons Companies, Inc. has a 1 year low of $17.00 and a 1 year high of $23.20. The stock’s 50 day simple moving average is $20.99 and its two-hundred day simple moving average is $19.78. 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 (NYSE:ACI) last announced its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $18.82 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. Albertsons Companies’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate 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. Investors of record on Friday, January 24th were given a $0.15 dividend. The ex-dividend date was Friday, January 24th. This represents a $0.60 annualized dividend and a yield of 2.73%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio (DPR) is currently 33.71%.

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.