Bank of Nova Scotia Trims Stock Position in Albertsons Companies, Inc. (NYSE:ACI)

Bank of Nova Scotia trimmed its position in shares of Albertsons Companies, Inc. (NYSE:ACI) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,236 shares of the company’s stock after selling 5,004 shares during the quarter. Bank of Nova Scotia’s holdings in Albertsons Companies were worth $10,257,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ACI. Eagle Bay Advisors LLC raised its stake in shares of Albertsons Companies by 108.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock worth $26,000 after buying an additional 700 shares during the period. Capital Advisors Ltd. LLC lifted its position in Albertsons Companies by 225.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after buying an additional 959 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Albertsons Companies by 316.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock worth $35,000 after acquiring an additional 1,358 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Albertsons Companies by 91.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,610 shares of the company’s stock worth $169,000 after purchasing an additional 4,101 shares during the period. Finally, R Squared Ltd acquired a new position in Albertsons Companies in the fourth quarter valued at approximately $179,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ACI shares. Evercore ISI lifted their price target on shares of Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Tuesday, March 11th. Citigroup began coverage on Albertsons Companies in a report on Friday, January 24th. They set a “buy” rating and a $26.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday, March 11th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Albertsons Companies in a research report on Thursday, April 3rd. Finally, UBS Group reduced their price target on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Albertsons Companies currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Trading Up 0.4 %

Shares of Albertsons Companies stock opened at $21.38 on Friday. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.92 and a beta of 0.47. The company’s 50-day simple moving average is $21.14 and its 200-day simple moving average is $19.87. Albertsons Companies, Inc. has a 52-week low of $17.00 and a 52-week high of $23.20. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31.

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

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.