Alpine Global Management LLC Cuts Stock Position in Albertsons Companies, Inc. (NYSE:ACI)

Alpine Global Management LLC lowered its stake in Albertsons Companies, Inc. (NYSE:ACI) by 62.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the company’s stock after selling 125,000 shares during the period. Alpine Global Management LLC’s holdings in Albertsons Companies were worth $1,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its stake in shares of Albertsons Companies by 225.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after buying an additional 959 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock worth $35,000 after buying an additional 1,358 shares during the last quarter. WealthCollab LLC grew its stake in shares of Albertsons Companies by 446.0% in the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock worth $35,000 after buying an additional 1,454 shares during the last quarter. Ossiam purchased a new stake in shares of Albertsons Companies in the 4th quarter worth approximately $93,000. Finally, CoreCap Advisors LLC boosted its stake in Albertsons Companies by 241,500.0% during the 4th quarter. CoreCap Advisors LLC now owns 4,832 shares of the company’s stock valued at $95,000 after purchasing an additional 4,830 shares during the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Insider Buying and Selling

In related news, EVP Omer Gajial sold 47,303 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $21.46, for a total value of $1,015,122.38. Following the transaction, the executive vice president now directly owns 162,569 shares of the company’s stock, valued at approximately $3,488,730.74. This trade represents a 22.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is owned by insiders.

Analysts Set New Price Targets

ACI has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Albertsons Companies in a research note on Wednesday, April 16th. BMO Capital Markets upgraded Albertsons Companies from a “market perform” rating to an “outperform” rating and increased their target price for the company from $19.00 to $25.00 in a research note on Wednesday, May 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $26.00 target price on shares of Albertsons Companies in a research note on Tuesday, February 4th. Telsey Advisory Group reiterated an “outperform” rating and set a $26.00 target price on shares of Albertsons Companies in a research note on Friday, April 11th. Finally, UBS Group cut their target price on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.36.

Albertsons Companies Stock Performance

ACI stock opened at $21.82 on Friday. The company has a market cap of $12.56 billion, a P/E ratio of 12.26, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. The stock’s fifty day moving average price is $21.73 and its 200-day moving average price is $20.57.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, April 15th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $18.80 billion for the quarter, compared to the consensus estimate of $18.78 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. During the same period last year, the business posted $0.54 EPS. On average, equities analysts forecast that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.60 dividend on an annualized basis and a yield of 2.75%. Albertsons Companies’s dividend payout ratio is currently 36.59%.

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.