HGC Investment Management Inc. Decreases Stock Position in Albertsons Companies, Inc. (NYSE:ACI)

HGC Investment Management Inc. lessened its position in Albertsons Companies, Inc. (NYSE:ACI) by 30.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,937 shares of the company’s stock after selling 10,000 shares during the quarter. HGC Investment Management Inc.’s holdings in Albertsons Companies were worth $424,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Swiss National Bank increased its position in Albertsons Companies by 9.2% in the 3rd quarter. Swiss National Bank now owns 1,117,200 shares of the company’s stock valued at $20,646,000 after buying an additional 94,300 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Albertsons Companies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,722 shares of the company’s stock valued at $12,395,000 after purchasing an additional 36,154 shares during the period. Lubert Adler Management Company LP increased its position in shares of Albertsons Companies by 47.1% during the second quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock valued at $52,629,000 after acquiring an additional 852,857 shares in the last quarter. Tidal Investments LLC lifted its position in Albertsons Companies by 109.7% during the first quarter. Tidal Investments LLC now owns 57,054 shares of the company’s stock valued at $1,223,000 after purchasing an additional 29,849 shares in the last quarter. Finally, Versor Investments LP boosted its position in shares of Albertsons Companies by 24.1% during the 3rd quarter. Versor Investments LP now owns 166,202 shares of the company’s stock valued at $3,071,000 after acquiring an additional 32,305 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.

Albertsons Companies Stock Performance

Albertsons Companies stock opened at $19.45 on Tuesday. Albertsons Companies, Inc. has a one year low of $17.80 and a one year high of $23.47. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.22 and a current ratio of 0.90. The firm has a market capitalization of $11.27 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.16 and a beta of 0.49. The stock’s 50 day moving average price is $18.78 and its 200 day moving average price is $19.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter last year, the company earned $0.60 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Albertsons Companies, Inc. will post 2.13 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Monday, October 28th. Albertsons Companies’s dividend payout ratio (DPR) is presently 28.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACI shares. Melius Research upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Monday, October 21st. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Monday, October 21st. Telsey Advisory Group reissued a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research report on Friday, October 11th. BMO Capital Markets decreased their price objective on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Finally, Tigress Financial restated a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.58.

Albertsons Companies 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.