Corebridge Financial Inc. Purchases 445,141 Shares of Albertsons Companies, Inc. $ACI

Key Points

• Corebridge Financial Inc. significantly increased its holdings in Albertsons Companies, Inc. by 15,323.3%, acquiring a total of 448,046 shares worth approximately $9.85 million.
• Analysts have mixed opinions on Albertsons, with eleven rating the stock as a Buy and others like Barclays giving it an "underweight" rating, resulting in a consensus target price of $23.94.
• Albertsons announced a quarterly dividend of $0.15 per share, representing a 3.1% yield, with a dividend payout ratio currently at 36.59%.

Corebridge Financial Inc. lifted its position in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 15,323.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 448,046 shares of the company's stock after purchasing an additional 445,141 shares during the period. Corebridge Financial Inc. owned 0.08% of Albertsons Companies worth $9,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Comerica Bank raised its holdings in shares of Albertsons Companies by 331.2% in the 1st quarter. Comerica Bank now owns 162,933 shares of the company's stock valued at $3,583,000 after purchasing an additional 125,145 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Albertsons Companies by 2,970.9% in the 1st quarter. MetLife Investment Management LLC now owns 225,433 shares of the company's stock valued at $4,957,000 after purchasing an additional 218,092 shares during the period. SVB Wealth LLC bought a new stake in shares of Albertsons Companies in the 1st quarter valued at about $32,000. Allstate Corp raised its holdings in shares of Albertsons Companies by 86.5% in the 1st quarter. Allstate Corp now owns 22,458 shares of the company's stock valued at $494,000 after purchasing an additional 10,414 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Albertsons Companies by 18.9% in the 1st quarter. Hsbc Holdings PLC now owns 240,944 shares of the company's stock valued at $5,293,000 after purchasing an additional 38,314 shares during the period. 71.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACI has been the topic of a number of research reports. Tigress Financial reiterated a "buy" rating and issued a $28.00 price target on shares of Albertsons Companies in a research note on Tuesday, July 8th. BMO Capital Markets upgraded shares of Albertsons Companies from a "market perform" rating to an "outperform" rating and upped their price target for the company from $19.00 to $25.00 in a research note on Wednesday, May 7th. UBS Group upgraded shares of Albertsons Companies from a "neutral" rating to a "buy" rating and upped their price target for the company from $22.00 to $27.00 in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Albertsons Companies from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. began coverage on shares of Albertsons Companies in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $27.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.94.

Albertsons Companies Price Performance

Shares of NYSE ACI traded up $0.20 during trading hours on Monday, hitting $19.46. 4,528,832 shares of the stock were exchanged, compared to its average volume of 5,294,471. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.18 and a current ratio of 0.82. The company has a market cap of $10.89 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.98 and a beta of 0.51. The company's fifty day simple moving average is $20.41 and its two-hundred day simple moving average is $21.12. Albertsons Companies, Inc. has a 1-year low of $17.00 and a 1-year high of $23.20.

Albertsons Companies (NYSE:ACI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $24.88 billion during the quarter, compared to the consensus estimate of $24.68 billion. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Albertsons Companies has set its FY 2025 guidance at 2.030-2.160 EPS. On average, sell-side analysts predict that Albertsons Companies, Inc. will post 2.14 EPS for the current year.

Albertsons Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, July 25th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, July 25th. Albertsons Companies's dividend payout ratio (DPR) 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.