Flagship Harbor Advisors LLC Invests $323,000 in Albertsons Companies, Inc. (NYSE:ACI)

Flagship Harbor Advisors LLC acquired a new position in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,689 shares of the company's stock, valued at approximately $323,000.

Several other hedge funds also recently modified their holdings of ACI. EverSource Wealth Advisors LLC increased its holdings in shares of Albertsons Companies by 316.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company's stock valued at $35,000 after purchasing an additional 1,358 shares in the last quarter. WealthCollab LLC increased its holdings in shares of Albertsons Companies by 446.0% in the fourth quarter. WealthCollab LLC now owns 1,780 shares of the company's stock valued at $35,000 after purchasing an additional 1,454 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Albertsons Companies by 340.1% in the first quarter. GAMMA Investing LLC now owns 1,919 shares of the company's stock valued at $42,000 after purchasing an additional 1,483 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Albertsons Companies by 54.8% in the first quarter. Fifth Third Bancorp now owns 2,997 shares of the company's stock valued at $66,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Albertsons Companies by 100.0% in the first quarter. Blue Trust Inc. now owns 3,370 shares of the company's stock valued at $74,000 after purchasing an additional 1,685 shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACI. Tigress Financial raised their price objective on shares of Albertsons Companies from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Evercore ISI reduced their price objective on shares of Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $23.00 price objective on shares of Albertsons Companies in a research note on Wednesday, April 16th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of Albertsons Companies in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Albertsons Companies from $24.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Five 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.36.

Insider Buying and Selling at Albertsons Companies

In other Albertsons Companies news, EVP Omer Gajial sold 47,303 shares of Albertsons Companies stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $21.46, for a total value of $1,015,122.38. Following the sale, the executive vice president now directly owns 162,569 shares in the company, valued at approximately $3,488,730.74. The trade was a 22.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.35% of the company's stock.

Albertsons Companies Stock Up 0.4%

ACI traded up $0.09 during trading on Friday, hitting $21.21. The company had a trading volume of 5,014,727 shares, compared to its average volume of 4,848,271. The company has a market capitalization of $12.21 billion, a PE ratio of 12.93, a PEG ratio of 2.12 and a beta of 0.46. Albertsons Companies, Inc. has a one year low of $17.00 and a one year high of $23.20. The firm's 50-day moving average price is $21.81 and its 200 day moving average price is $21.02. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.29.

Albertsons Companies (NYSE:ACI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $18.80 billion for the quarter, compared to analysts' expectations of $18.78 billion. Albertsons Companies had a net margin of 1.19% and a return on equity of 41.03%. During the same period in the previous year, the firm posted $0.54 EPS. As a group, equities analysts expect that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.60 annualized dividend and a yield of 2.83%. Albertsons Companies's payout ratio is currently 36.59%.

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.