Alpine Associates Management Inc. Sells 116,617 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Alpine Associates Management Inc. lowered its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,551,117 shares of the company’s stock after selling 116,617 shares during the quarter. Albertsons Companies comprises approximately 3.9% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 9th biggest position. Alpine Associates Management Inc. owned about 0.79% of Albertsons Companies worth $84,105,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ACI. Signaturefd LLC boosted its holdings in shares of Albertsons Companies by 108.4% in the 2nd quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock valued at $47,000 after purchasing an additional 1,230 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Albertsons Companies by 2,948.4% in the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,801 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Albertsons Companies by 133.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock valued at $105,000 after purchasing an additional 2,800 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Albertsons Companies in the 2nd quarter valued at $126,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Albertsons Companies in the 2nd quarter valued at $150,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

Analyst Upgrades and Downgrades

ACI has been the topic of a number of research analyst reports. Melius raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, October 21st. Tigress Financial reaffirmed a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a report on Monday, October 21st. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. BMO Capital Markets dropped their price target on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, October 16th. Finally, Melius Research upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.58.

Albertsons Companies Stock Up 1.3 %

Shares of NYSE:ACI opened at $19.26 on Wednesday. The firm has a market cap of $11.16 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.11 and a beta of 0.49. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. Albertsons Companies, Inc. has a 12-month low of $17.80 and a 12-month high of $23.47. The business has a fifty day simple moving average of $18.65 and a 200 day simple moving average of $19.55.

Albertsons Companies (NYSE:ACI) last announced its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. Albertsons Companies’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Analysts predict that Albertsons Companies, Inc. will post 2.13 earnings per share for the current year.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Monday, October 28th. Albertsons Companies’s dividend payout ratio is currently 28.07%.

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.