Albertsons Companies, Inc. (NYSE:ACI) Sees Significant Growth in Short Interest

Albertsons Companies, Inc. (NYSE:ACI) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 13,920,000 shares, an increase of 15.1% from the June 15th total of 12,090,000 shares. Based on an average daily volume of 2,330,000 shares, the days-to-cover ratio is presently 6.0 days. Currently, 4.1% of the shares of the company are sold short.

Albertsons Companies Price Performance

ACI traded up $0.19 during midday trading on Tuesday, hitting $19.76. The company had a trading volume of 2,580,246 shares, compared to its average volume of 2,928,774. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.18 and a current ratio of 0.84. The company has a market capitalization of $11.44 billion, a PE ratio of 8.86, a P/E/G ratio of 1.01 and a beta of 0.49. Albertsons Companies has a twelve month low of $19.33 and a twelve month high of $23.88. The firm’s 50-day simple moving average is $20.15 and its 200-day simple moving average is $20.85.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Monday, April 22nd. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $18.34 billion during the quarter, compared to analysts’ expectations of $18.40 billion. Albertsons Companies had a net margin of 1.64% and a return on equity of 68.02%. Equities research analysts predict that Albertsons Companies will post 2.42 EPS for the current fiscal year.

Albertsons Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 26th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, July 26th. Albertsons Companies’s dividend payout ratio (DPR) is presently 21.52%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Albertsons Companies from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. Roth Mkm raised shares of Albertsons Companies from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, April 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a report on Tuesday, April 23rd. Evercore ISI lowered their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Finally, Roth Capital raised shares of Albertsons Companies from a “neutral” rating to a “buy” rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Albertsons Companies currently has an average rating of “Moderate Buy” and an average price target of $24.45.

Insider Activity at Albertsons Companies

In related news, insider Anuj Dhanda sold 100,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $20.35, for a total transaction of $2,035,000.00. Following the completion of the transaction, the insider now directly owns 365,297 shares in the company, valued at approximately $7,433,793.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Albertsons Companies news, CAO Robert Bruce Larson sold 24,362 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $20.24, for a total value of $493,086.88. Following the sale, the chief accounting officer now owns 50,241 shares of the company’s stock, valued at approximately $1,016,877.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anuj Dhanda sold 100,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $20.35, for a total transaction of $2,035,000.00. Following the completion of the sale, the insider now directly owns 365,297 shares in the company, valued at approximately $7,433,793.95. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Albertsons Companies by 1.0% in the first quarter. Vanguard Group Inc. now owns 33,160,009 shares of the company’s stock valued at $710,951,000 after buying an additional 335,783 shares in the last quarter. Norges Bank acquired a new stake in shares of Albertsons Companies in the fourth quarter valued at approximately $312,510,000. LSV Asset Management raised its holdings in shares of Albertsons Companies by 1.7% in the first quarter. LSV Asset Management now owns 5,078,407 shares of the company’s stock valued at $108,881,000 after purchasing an additional 85,707 shares during the last quarter. Alpine Associates Management Inc. raised its holdings in shares of Albertsons Companies by 3.1% in the fourth quarter. Alpine Associates Management Inc. now owns 4,401,418 shares of the company’s stock valued at $101,233,000 after purchasing an additional 133,900 shares during the last quarter. Finally, Segantii Capital Management Ltd raised its holdings in shares of Albertsons Companies by 23.7% in the fourth quarter. Segantii Capital Management Ltd now owns 4,125,207 shares of the company’s stock valued at $94,880,000 after purchasing an additional 790,207 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.

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.