Okabena Investment Services Inc. Lowers Position in Albertsons Companies, Inc. (NYSE:ACI)

Okabena Investment Services Inc. trimmed its stake in Albertsons Companies, Inc. (NYSE:ACI) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,416 shares of the company’s stock after selling 1,197 shares during the period. Okabena Investment Services Inc.’s holdings in Albertsons Companies were worth $990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ACI. Tucker Asset Management LLC purchased a new stake in shares of Albertsons Companies during the 4th quarter valued at $269,000. Allstate Corp bought a new position in shares of Albertsons Companies during the 4th quarter valued at $237,000. DnB Asset Management AS lifted its stake in Albertsons Companies by 15.2% in the fourth quarter. DnB Asset Management AS now owns 80,064 shares of the company’s stock worth $1,572,000 after purchasing an additional 10,544 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Albertsons Companies by 17.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 186,030 shares of the company’s stock worth $3,654,000 after purchasing an additional 28,303 shares during the last quarter. Finally, Norges Bank purchased a new stake in Albertsons Companies during the fourth quarter valued at about $298,302,000. 71.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ACI shares. UBS Group lowered their target price on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada raised their target price on shares of Albertsons Companies from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Bank of America started coverage on shares of Albertsons Companies in a report on Friday, December 13th. They set a “neutral” rating and a $22.00 price target for the company. Morgan Stanley decreased their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Albertsons Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Trading Up 2.1 %

Shares of ACI stock opened at $21.61 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. Albertsons Companies, Inc. has a 12-month low of $17.00 and a 12-month high of $22.05. The stock has a market capitalization of $12.52 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.92 and a beta of 0.50. The firm’s 50 day moving average is $20.72 and its 200 day moving average is $19.63.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The firm had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. Research analysts expect that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a dividend of $0.15 per share. The ex-dividend date was Friday, January 24th. This represents a $0.60 annualized dividend and a dividend yield of 2.78%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio is presently 33.71%.

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.