HGC Investment Management Inc. Lowers Holdings in Albertsons Companies, Inc. (NYSE:ACI)

HGC Investment Management Inc. lowered its position in Albertsons Companies, Inc. (NYSE:ACI) by 30.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,937 shares of the company’s stock after selling 10,000 shares during the quarter. HGC Investment Management Inc.’s holdings in Albertsons Companies were worth $424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank lifted its position in Albertsons Companies by 9.2% in the 3rd quarter. Swiss National Bank now owns 1,117,200 shares of the company’s stock worth $20,646,000 after buying an additional 94,300 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Albertsons Companies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,722 shares of the company’s stock valued at $12,395,000 after buying an additional 36,154 shares during the last quarter. Lubert Adler Management Company LP boosted its holdings in shares of Albertsons Companies by 47.1% during the second quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock worth $52,629,000 after purchasing an additional 852,857 shares during the period. Tidal Investments LLC increased its holdings in Albertsons Companies by 109.7% during the 1st quarter. Tidal Investments LLC now owns 57,054 shares of the company’s stock valued at $1,223,000 after purchasing an additional 29,849 shares during the period. Finally, Versor Investments LP increased its stake in shares of Albertsons Companies by 24.1% during the third quarter. Versor Investments LP now owns 166,202 shares of the company’s stock valued at $3,071,000 after buying an additional 32,305 shares during the period. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, October 21st. BMO Capital Markets decreased their price objective on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, October 21st. Finally, Tigress Financial reissued a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.58.

Albertsons Companies Stock Down 2.0 %

ACI stock opened at $19.45 on Tuesday. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 11.37, a P/E/G 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. The business’s 50-day moving average is $18.78 and its two-hundred day moving average is $19.47. Albertsons Companies, Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $23.47.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, analysts forecast 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. The ex-dividend date was Monday, October 28th. This represents a $0.48 annualized dividend and a yield of 2.47%. Albertsons Companies’s dividend payout ratio (DPR) is presently 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.