35,533 Shares in Albertsons Companies, Inc. (NYSE:ACI) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new position in Albertsons Companies, Inc. (NYSE:ACI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 35,533 shares of the company's stock, valued at approximately $781,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACI. Norges Bank purchased a new position in Albertsons Companies in the fourth quarter worth $298,302,000. FMR LLC grew its position in Albertsons Companies by 55.3% in the fourth quarter. FMR LLC now owns 26,150,522 shares of the company's stock worth $513,596,000 after acquiring an additional 9,308,940 shares in the last quarter. Southeastern Asset Management Inc. TN grew its position in Albertsons Companies by 108.0% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 5,766,719 shares of the company's stock worth $113,258,000 after acquiring an additional 2,993,988 shares in the last quarter. Dendur Capital LP purchased a new position in Albertsons Companies in the fourth quarter worth $49,100,000. Finally, Vanguard Group Inc. boosted its position in Albertsons Companies by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 36,310,122 shares of the company's stock valued at $713,131,000 after buying an additional 2,347,875 shares during the period. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ACI shares. 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 report on Tuesday. Roth Capital restated a "buy" rating and set a $24.00 price target (up from $23.00) on shares of Albertsons Companies in a research report on Wednesday, July 16th. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 price target on shares of Albertsons Companies in a research report on Wednesday, April 16th. Telsey Advisory Group restated an "outperform" rating and set a $24.00 price target on shares of Albertsons Companies in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Albertsons Companies from $31.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.06.

Albertsons Companies Stock Down 2.6%

Shares of NYSE ACI traded down $0.53 on Friday, reaching $20.01. 4,367,993 shares of the company's stock traded hands, compared to its average volume of 6,175,739. Albertsons Companies, Inc. has a 12 month low of $17.00 and a 12 month high of $23.20. The business's 50 day simple moving average is $21.56 and its two-hundred day simple moving average is $21.24. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 2.11 and a beta of 0.44. The company has a quick ratio of 0.18, 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 for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, equities research 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 will be paid on Friday, August 8th. Investors of record on Friday, July 25th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, July 25th. Albertsons Companies's dividend payout ratio (DPR) is currently 36.59%.

Insider Buying and Selling at Albertsons Companies

In related news, EVP Omer Gajial sold 47,303 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $21.46, for a total transaction of $1,015,122.38. Following the completion of the sale, the executive vice president owned 162,569 shares of the company's stock, valued at $3,488,730.74. This trade represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.35% of the stock is owned by company insiders.

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.