LSV Asset Management Raises Holdings in Albertsons Companies, Inc. (NYSE:ACI)

Key Points

• LSV Asset Management increased its stake in Albertsons Companies by 52.9%, owning 7,873,039 shares valued at approximately $173.1 million as of the latest SEC filing.
• Albertsons Companies reported a revenue of $24.88 billion for the quarter, surpassing analyst expectations, and announced a quarterly dividend of $0.15 per share, yielding about 3.1%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Albertsons stock, with a target price averaging $24.06, reflecting bullish sentiment towards the company.

LSV Asset Management lifted its holdings in Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 52.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,873,039 shares of the company's stock after purchasing an additional 2,724,576 shares during the period. LSV Asset Management owned approximately 1.37% of Albertsons Companies worth $173,128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACI. WealthCollab LLC increased its holdings in shares of Albertsons Companies by 446.0% in the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company's stock valued at $35,000 after purchasing an additional 1,454 shares in the last quarter. Bessemer Group Inc. acquired a new stake in Albertsons Companies during the first quarter worth about $40,000. GAMMA Investing LLC increased its position in Albertsons Companies by 340.1% during 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 raised its stake in shares of Albertsons Companies by 54.8% in the 1st quarter. Fifth Third Bancorp now owns 2,997 shares of the company's stock valued at $66,000 after acquiring an additional 1,061 shares during the period. 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 valued at $74,000 after purchasing an additional 1,685 shares in the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

Albertsons Companies Stock Performance

Shares of NYSE:ACI traded down $0.36 during mid-day trading on Monday, reaching $19.26. The company had a trading volume of 4,343,895 shares, compared to its average volume of 7,398,980. The company's 50-day moving average price is $21.27 and its 200-day moving average price is $21.24. Albertsons Companies, Inc. has a one year low of $17.00 and a one year high of $23.20. 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 firm has a market cap of $10.78 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.01 and a beta of 0.46.

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 business had revenue of $24.88 billion during the quarter, compared to analyst estimates of $24.68 billion. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. Albertsons Companies's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities research analysts anticipate that Albertsons Companies, Inc. will post 2.14 EPS for the current fiscal year.

Albertsons Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

ACI has been the topic of a number of recent research reports. BMO Capital Markets raised shares of Albertsons Companies from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $19.00 to $25.00 in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Albertsons Companies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays started coverage on Albertsons Companies in a research report on Monday, July 21st. They issued an "underweight" rating and a $19.00 target price for the company. Roth Capital reissued a "buy" rating and set a $24.00 price objective (up from $23.00) on shares of Albertsons Companies in a research note on Wednesday, July 16th. Finally, Evercore ISI decreased their target price on Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.06.

Insider Activity at Albertsons Companies

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