Synovus Financial Corp grew its stake in Albertsons Companies, Inc. (NYSE:ACI – Get Rating) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,021 shares of the company’s stock after acquiring an additional 526 shares during the quarter. Synovus Financial Corp’s holdings in Albertsons Companies were worth $348,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ACI. Rosenberg Matthew Hamilton increased its holdings in shares of Albertsons Companies by 265.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,933 shares of the company’s stock valued at $53,000 after acquiring an additional 1,404 shares during the period. Great West Life Assurance Co. Can purchased a new position in Albertsons Companies during the 1st quarter worth $77,000. MetLife Investment Management LLC purchased a new position in Albertsons Companies during the 1st quarter worth $108,000. Loomis Sayles & Co. L P grew its stake in Albertsons Companies by 4,714.9% during the 2nd quarter. Loomis Sayles & Co. L P now owns 4,863 shares of the company’s stock worth $130,000 after buying an additional 4,762 shares during the last quarter. Finally, Denali Advisors LLC grew its stake in Albertsons Companies by 26.5% during the 2nd quarter. Denali Advisors LLC now owns 5,252 shares of the company’s stock worth $140,000 after buying an additional 1,100 shares during the last quarter. 63.92% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ACI has been the topic of several research analyst reports. Morgan Stanley dropped their target price on Albertsons Companies from $30.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Monday, October 24th. Guggenheim downgraded Albertsons Companies from a “buy” rating to a “neutral” rating in a research note on Monday, October 17th. UBS Group dropped their price target on Albertsons Companies from $37.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. Telsey Advisory Group downgraded Albertsons Companies from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $37.00 to $27.25 in a research note on Wednesday, October 19th. Finally, BMO Capital Markets upgraded Albertsons Companies from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $24.00 to $21.00 in a research note on Friday, October 21st. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.10.
Insider Buying and Selling
Albertsons Companies Stock Performance
Shares of ACI stock opened at $20.52 on Monday. The stock has a market cap of $10.98 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57. The business has a 50-day simple moving average of $23.96 and a 200-day simple moving average of $26.77. The company has a quick ratio of 0.55, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. Albertsons Companies, Inc. has a 52-week low of $20.05 and a 52-week high of $37.99.
Albertsons Companies (NYSE:ACI – Get Rating) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. The business had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.70 billion. Albertsons Companies had a return on equity of 53.49% and a net margin of 2.27%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, equities analysts expect that Albertsons Companies, Inc. will post 2.86 EPS for the current year.
Albertsons Companies Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were issued a $0.12 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.34%. Albertsons Companies’s payout ratio is 16.22%.
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.
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