Harvest Management LLC Boosts Stock Holdings in Albertsons Companies, Inc. (NYSE:ACI)

Harvest Management LLC raised its position in Albertsons Companies, Inc. (NYSE:ACI) by 325.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,900 shares of the company’s stock after acquiring an additional 92,500 shares during the quarter. Albertsons Companies makes up 1.1% of Harvest Management LLC’s investment portfolio, making the stock its 18th largest position. Harvest Management LLC’s holdings in Albertsons Companies were worth $2,234,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Private Advisor Group LLC boosted its holdings in Albertsons Companies by 4.4% in the third quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock worth $240,000 after acquiring an additional 544 shares in the last quarter. Verus Capital Partners LLC raised its position in Albertsons Companies by 3.6% in the second quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock worth $322,000 after acquiring an additional 565 shares during the period. CIBC Asset Management Inc increased its position in Albertsons Companies by 4.9% in the third quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock worth $357,000 after buying an additional 895 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Albertsons Companies by 1.6% during the 2nd quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after buying an additional 933 shares in the last quarter. Finally, MRP Capital Investments LLC boosted its stake in Albertsons Companies by 2.7% in the 2nd quarter. MRP Capital Investments LLC now owns 45,055 shares of the company’s stock worth $890,000 after purchasing an additional 1,185 shares during the period. 71.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ACI. Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Melius upgraded shares of 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. BMO Capital Markets decreased their price target on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. Telsey Advisory Group restated a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a report on Friday, October 11th. Finally, Tigress Financial reiterated a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.58.

Albertsons Companies Price Performance

Albertsons Companies stock opened at $19.45 on Tuesday. The business has a fifty day moving average of $18.78 and a two-hundred day moving average of $19.47. The company has a market cap of $11.27 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.16 and a beta of 0.49. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.22 and a current ratio of 0.90. Albertsons Companies, Inc. has a one year low of $17.80 and a one year high of $23.47.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $18.55 billion for 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%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, analysts predict that Albertsons Companies, Inc. will post 2.13 earnings per share for the current fiscal year.

Albertsons Companies Dividend Announcement

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

Albertsons Companies Company 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.