Bleakley Financial Group LLC Acquires New Shares in Albertsons Companies, Inc. (NYSE:ACI)

Bleakley Financial Group LLC acquired a new position in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,728 shares of the company's stock, valued at approximately $390,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Albertsons Companies during the fourth quarter worth $298,302,000. FMR LLC raised its position in shares of Albertsons Companies by 55.3% in the 4th quarter. FMR LLC now owns 26,150,522 shares of the company's stock valued at $513,596,000 after acquiring an additional 9,308,940 shares during the period. Southeastern Asset Management Inc. TN raised its position in shares of Albertsons Companies by 108.0% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 5,766,719 shares of the company's stock valued at $113,258,000 after acquiring an additional 2,993,988 shares during the period. Dendur Capital LP acquired a new stake in shares of Albertsons Companies in the 4th quarter valued at approximately $49,100,000. Finally, Vanguard Group Inc. raised its position in shares of Albertsons Companies by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 36,310,122 shares of the company's stock valued at $713,131,000 after acquiring an additional 2,347,875 shares during the period. Institutional investors own 71.35% of the company's stock.

Albertsons Companies Stock Up 1.1%

NYSE ACI traded up $0.23 on Friday, reaching $20.47. The company had a trading volume of 7,587,961 shares, compared to its average volume of 5,126,438. The stock has a market capitalization of $11.79 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.08 and a beta of 0.44. The company's fifty day moving average is $21.67 and its 200 day moving average is $21.23. Albertsons Companies, Inc. has a 52-week low of $17.00 and a 52-week high of $23.20. The company has a quick ratio of 0.22, a current ratio of 0.82 and a debt-to-equity ratio of 2.17.

Albertsons Companies (NYSE:ACI - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $24.88 billion during the quarter, compared to analyst estimates of $24.68 billion. Albertsons Companies had a return on equity of 37.92% and a net margin of 1.18%. The business's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. Sell-side analysts anticipate that Albertsons Companies, Inc. will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 25th will be given a $0.15 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.60 dividend on an annualized basis and a yield of 2.93%. Albertsons Companies's payout ratio is 36.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ACI shares. Evercore ISI decreased their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $24.00 price target on shares of Albertsons Companies in a report on Wednesday. Roth Capital reaffirmed a "buy" rating and set a $24.00 price target (up previously from $23.00) on shares of Albertsons Companies in a report on Wednesday. JPMorgan Chase & Co. set a $31.00 price target on Albertsons Companies in a report on Tuesday, July 8th. Finally, UBS Group cut their price target on Albertsons Companies from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.20.

Insiders Place Their Bets

In other Albertsons Companies news, EVP Omer Gajial sold 47,303 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $21.46, for a total value of $1,015,122.38. Following the completion of the sale, the executive vice president owned 162,569 shares in the company, valued at approximately $3,488,730.74. The trade was a 22.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.35% of the stock is owned by insiders.

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.