Albertsons Companies, Inc. $ACI Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in Albertsons, boosting holdings by 2,707.5% in Q1 to 123,867 shares worth about $2.11 million.
• Institutional interest remains strong overall, with 71.35% of Albertsons’ stock owned by institutional investors and hedge funds, though several firms have recently adjusted positions.
• Analysts are mixed but mostly cautious: the stock has an average rating of “Hold” with an average price target of $20.25, while Albertsons also trades around $14.70 and offers a 4.6% dividend yield.

Fifth Third Bancorp lifted its holdings in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 2,707.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,867 shares of the company's stock after purchasing an additional 119,455 shares during the quarter. Fifth Third Bancorp's holdings in Albertsons Companies were worth $2,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC increased its position in shares of Albertsons Companies by 103.5% during the fourth quarter. CWM LLC now owns 1,435 shares of the company's stock valued at $25,000 after acquiring an additional 730 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Albertsons Companies by 185.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,628 shares of the company's stock valued at $28,000 after acquiring an additional 1,057 shares during the period. NBC Securities Inc. lifted its holdings in shares of Albertsons Companies by 91.2% in the 4th quarter. NBC Securities Inc. now owns 1,855 shares of the company's stock worth $32,000 after acquiring an additional 885 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Albertsons Companies by 172.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,062 shares of the company's stock worth $35,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Elevation Wealth Partners LLC purchased a new position in shares of Albertsons Companies during the 4th quarter worth approximately $46,000. 71.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Albertsons Companies from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, June 29th. Citigroup lowered their price target on Albertsons Companies from $22.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, June 29th. UBS Group dropped their price objective on Albertsons Companies from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Weiss Ratings downgraded Albertsons Companies from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price objective on shares of Albertsons Companies in a report on Monday, April 6th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.25.

Albertsons Companies Trading Down 1.7%

Shares of ACI stock opened at $14.70 on Wednesday. Albertsons Companies, Inc. has a fifty-two week low of $13.16 and a fifty-two week high of $20.91. The company has a 50 day moving average price of $15.08 and a 200 day moving average price of $16.45. The stock has a market capitalization of $7.20 billion, a P/E ratio of 45.94, a price-to-earnings-growth ratio of 1.71 and a beta of 0.42. The company has a debt-to-equity ratio of 4.58, a quick ratio of 0.20 and a current ratio of 0.86.

Albertsons Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a $0.17 dividend. The ex-dividend date is Friday, July 24th. This represents a $0.68 annualized dividend and a dividend yield of 4.6%. Albertsons Companies's payout ratio is 212.50%.

Albertsons Companies Profile

Albertsons Companies, Inc NYSE: ACI is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company's retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.

Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.

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