Bank of New York Mellon Corp Cuts Stake in Albertsons Companies, Inc. $ACI

Key Points

• Bank of New York Mellon trimmed its Albertsons stake by 1.5% in the first quarter, selling 81,681 shares and ending with 5.28 million shares valued at about $89.95 million.
• Institutional ownership in Albertsons remains high, with several major funds recently increasing or establishing positions; 71.35% of the stock is held by hedge funds and other institutional investors.
• Wall Street sentiment is mixed but generally cautious: the stock has a Hold consensus rating and an average price target of $20.25, while Albertsons also announced a quarterly dividend of $0.17 per share payable August 7.

Bank of New York Mellon Corp reduced its holdings in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,278,839 shares of the company's stock after selling 81,681 shares during the period. Bank of New York Mellon Corp owned about 1.07% of Albertsons Companies worth $89,951,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ACI. Norges Bank purchased a new stake in shares of Albertsons Companies in the 4th quarter valued at $388,089,000. Morgan Stanley raised its position in Albertsons Companies by 101.0% in the 4th quarter. Morgan Stanley now owns 11,687,694 shares of the company's stock worth $200,678,000 after purchasing an additional 5,873,759 shares during the period. Dimensional Fund Advisors LP raised its position in Albertsons Companies by 62.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,429,784 shares of the company's stock worth $230,595,000 after purchasing an additional 5,159,905 shares during the period. Vanguard Group Inc. raised its position in Albertsons Companies by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 39,330,507 shares of the company's stock worth $675,305,000 after purchasing an additional 5,110,777 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Albertsons Companies by 113.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,749,331 shares of the company's stock worth $81,546,000 after purchasing an additional 2,519,432 shares during the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACI. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Albertsons Companies in a research note on Monday, April 6th. JPMorgan Chase & Co. dropped their target price on Albertsons Companies from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, June 30th. Weiss Ratings lowered Albertsons Companies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 29th. Wells Fargo & Company decreased their price target on Albertsons Companies from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Finally, Citigroup lowered their price objective 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. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $20.25.

Albertsons Companies Price Performance

ACI stock opened at $14.70 on Wednesday. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 45.94, a PEG ratio of 1.71 and a beta of 0.42. The firm's 50-day moving average price is $15.08 and its two-hundred day moving average price is $16.45. The company has a current ratio of 0.86, a quick ratio of 0.20 and a debt-to-equity ratio of 4.58. Albertsons Companies, Inc. has a 12-month low of $13.16 and a 12-month high of $20.91.

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 given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.68 dividend on an annualized basis and a yield of 4.6%. Albertsons Companies's dividend payout ratio is presently 212.50%.

Albertsons Companies Company 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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