Korea Investment CORP Acquires 557,255 Shares of Albertsons Companies, Inc. $ACI

Key Points

• Korea Investment CORP has increased its stake in Albertsons Companies by 225.6%, acquiring a total of 804,315 shares worth approximately $17.69 million.
• Albertsons reported better-than-expected quarterly earnings, with earnings per share of $0.55, exceeding analyst estimates and achieving a 2.5% year-over-year revenue growth.
• The company declared a $0.15 quarterly dividend, translating to an annual yield of 3.0%, and has a current payout ratio of 36.59%.

Korea Investment CORP increased its stake in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 225.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 804,315 shares of the company's stock after purchasing an additional 557,255 shares during the period. Korea Investment CORP owned approximately 0.14% of Albertsons Companies worth $17,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. WealthCollab LLC raised its holdings in shares of Albertsons Companies by 446.0% during the fourth quarter. WealthCollab LLC now owns 1,780 shares of the company's stock valued at $35,000 after purchasing an additional 1,454 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Albertsons Companies during the first quarter valued at approximately $40,000. GAMMA Investing LLC increased its holdings in Albertsons Companies by 340.1% during the first quarter. GAMMA Investing LLC now owns 1,919 shares of the company's stock valued at $42,000 after buying an additional 1,483 shares during the last quarter. Brooklyn Investment Group increased its holdings in Albertsons Companies by 48,840.0% during the first quarter. Brooklyn Investment Group now owns 2,447 shares of the company's stock valued at $54,000 after buying an additional 2,442 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Albertsons Companies by 54.8% during the first quarter. Fifth Third Bancorp now owns 2,997 shares of the company's stock valued at $66,000 after buying an additional 1,061 shares during the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

Albertsons Companies Price Performance

Shares of NYSE:ACI traded up $0.0480 during midday trading on Friday, reaching $19.5080. 4,186,947 shares of the company were exchanged, compared to its average volume of 5,575,836. The company has a current ratio of 0.82, a quick ratio of 0.18 and a debt-to-equity ratio of 2.17. The business's fifty day moving average is $20.60 and its two-hundred day moving average is $21.18. Albertsons Companies, Inc. has a one year low of $17.00 and a one year high of $23.20. The stock has a market cap of $10.92 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.46.

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

Albertsons Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, July 25th were given a dividend of $0.15 per share. The ex-dividend date was Friday, July 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. Albertsons Companies's dividend payout ratio is currently 36.59%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ACI. Barclays began coverage on shares of Albertsons Companies in a report on Monday, July 21st. They set an "underweight" rating and a $19.00 target price for the company. BMO Capital Markets raised shares of Albertsons Companies from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $19.00 to $25.00 in a research note on Wednesday, May 7th. Tigress Financial reissued a "buy" rating and issued a $28.00 price objective on shares of Albertsons Companies in a research note on Tuesday, July 8th. Roth Capital reissued a "buy" rating and issued a $24.00 price objective (up from $23.00) on shares of Albertsons Companies in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Albertsons Companies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.94.

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.