Truist Financial Corp Purchases 3,253 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Truist Financial Corp boosted its position in Albertsons Companies, Inc. (NYSE:ACI – Get Rating) by 4.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,765 shares of the company’s stock after purchasing an additional 3,253 shares during the quarter. Truist Financial Corp’s holdings in Albertsons Companies were worth $1,809,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in Albertsons Companies by 317.0% in the second quarter. SG Americas Securities LLC now owns 26,406 shares of the company’s stock worth $706,000 after purchasing an additional 20,073 shares in the last quarter. Prudential Financial Inc. raised its holdings in Albertsons Companies by 400.2% in the second quarter. Prudential Financial Inc. now owns 2,059,883 shares of the company’s stock worth $55,040,000 after purchasing an additional 1,648,088 shares in the last quarter. Natixis purchased a new stake in shares of Albertsons Companies during the second quarter worth about $1,606,000. Lazard Asset Management LLC grew its stake in shares of Albertsons Companies by 1,929.2% during the second quarter. Lazard Asset Management LLC now owns 68,770 shares of the company’s stock worth $1,837,000 after acquiring an additional 65,381 shares during the last quarter. Finally, Davidson Kempner Capital Management LP grew its stake in shares of Albertsons Companies by 303.4% during the second quarter. Davidson Kempner Capital Management LP now owns 1,210,327 shares of the company’s stock worth $32,340,000 after acquiring an additional 910,327 shares during the last quarter. 65.58% of the stock is currently owned by institutional investors.

Albertsons Companies Price Performance

Shares of NYSE ACI opened at $21.21 on Wednesday. The business’s 50 day moving average price is $20.89 and its 200 day moving average price is $24.32. The firm has a market cap of $11.36 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.38 and a beta of 0.33. Albertsons Companies, Inc. has a 52 week low of $20.05 and a 52 week high of $37.99. The company has a quick ratio of 0.42, a current ratio of 0.80 and a debt-to-equity ratio of 8.66.

Albertsons Companies (NYSE:ACI – Get Rating) last released its quarterly earnings data on Tuesday, October 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. Albertsons Companies had a return on equity of 60.71% and a net margin of 2.16%. The business had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Albertsons Companies, Inc. will post 2.87 earnings per share for the current year.

Albertsons Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Thursday, January 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 25th. This represents a $0.48 annualized dividend and a yield of 2.26%. Albertsons Companies’s dividend payout ratio is presently 19.83%.

Wall Street Analysts Forecast Growth

ACI has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Albertsons Companies from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, January 12th. Morgan Stanley dropped their price target 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. TheStreet lowered Albertsons Companies from a “b-” rating to a “c+” rating in a research note on Monday, November 14th. Sanford C. Bernstein initiated coverage on Albertsons Companies in a research note on Tuesday, December 6th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, Guggenheim lowered Albertsons Companies from a “buy” rating to a “neutral” rating in a research note on Monday, October 17th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.77.

Albertsons Companies Profile

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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.