CCM Investment Group LLC Takes Position in Albertsons Companies, Inc. (NYSE:ACI)

Key Points

• CCM Investment Group LLC purchased 40,255 shares of Albertsons Companies, Inc. (NYSE:ACI), valuing the stake at approximately $870,000, highlighting increased institutional interest in the company.
• Albertsons recently declared a quarterly dividend of $0.15, yielding 3.0%, with a payout ratio of 36.59%.
• The company's stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $24.06.

CCM Investment Group LLC bought a new position in Albertsons Companies, Inc. (NYSE:ACI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 40,255 shares of the company's stock, valued at approximately $870,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ACI. WealthCollab LLC increased its holdings in Albertsons Companies by 446.0% in the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company's stock worth $35,000 after purchasing an additional 1,454 shares in the last quarter. Bessemer Group Inc. acquired a new position in Albertsons Companies in the 1st quarter worth about $40,000. GAMMA Investing LLC increased its holdings in Albertsons Companies by 340.1% in the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the company's stock worth $42,000 after purchasing an additional 1,483 shares in the last quarter. Fifth Third Bancorp increased its holdings in Albertsons Companies by 54.8% in the 1st quarter. Fifth Third Bancorp now owns 2,997 shares of the company's stock worth $66,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Albertsons Companies by 100.0% in the 1st quarter. Blue Trust Inc. now owns 3,370 shares of the company's stock worth $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 equities analysts have issued reports on the company. Roth Capital reaffirmed a "buy" rating and issued a $24.00 target price (up previously from $23.00) on shares of Albertsons Companies in a report on Wednesday, July 16th. Evercore ISI lowered their target price on Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target on Albertsons Companies from $31.00 to $29.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Telsey Advisory Group reissued an "outperform" rating and issued a $24.00 price target on shares of Albertsons Companies in a research note on Wednesday, July 16th. Finally, Tigress Financial reissued a "buy" rating and issued a $28.00 price target on shares of Albertsons Companies in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.06.

Albertsons Companies Trading Up 0.6%

NYSE ACI traded up $0.12 during trading hours on Friday, hitting $19.18. 1,244,762 shares of the company's stock were exchanged, compared to its average volume of 6,133,491. The stock has a 50-day simple moving average of $20.82 and a 200 day simple moving average of $21.20. Albertsons Companies, Inc. has a 1-year low of $17.00 and a 1-year high of $23.20. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.95 and a beta of 0.46. The company has a current ratio of 0.82, a quick ratio of 0.18 and a debt-to-equity ratio of 2.17.

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

Albertsons Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were issued a $0.15 dividend. The ex-dividend date was Friday, July 25th. This represents a $0.60 annualized dividend and a yield of 3.1%. Albertsons Companies's dividend payout ratio is presently 36.59%.

Albertsons Companies 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.