Mackenzie Financial Corp Buys 56,453 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Key Points

• Mackenzie Financial Corp has significantly increased its stake in Albertsons Companies by 214.1% during the first quarter, now holding 82,824 shares valued at approximately $1.82 million.
• Albertsons reported earnings of $0.55 EPS, exceeding analyst expectations, and announced a quarterly dividend of $0.15 with a dividend yield of 3.1%.
• Equity analysts' ratings on Albertsons Companies vary, with one "sell" rating, four "hold" ratings, and twelve "buy" ratings, placing the average target price at $24.06.

Mackenzie Financial Corp boosted its holdings in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 214.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,824 shares of the company's stock after purchasing an additional 56,453 shares during the quarter. Mackenzie Financial Corp's holdings in Albertsons Companies were worth $1,821,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. WealthCollab LLC raised 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 buying an additional 1,454 shares during the period. Bessemer Group Inc. purchased a new stake in shares of Albertsons Companies in the 1st quarter valued at $40,000. GAMMA Investing LLC raised its holdings in shares of Albertsons Companies by 340.1% in the 1st 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 period. Fifth Third Bancorp raised its holdings 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 buying an additional 1,061 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of 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 buying an additional 1,685 shares during the period. Hedge funds and other institutional investors own 71.35% of the company's stock.

Analyst Upgrades and Downgrades

ACI has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $23.00 price objective on shares of Albertsons Companies in a report on Wednesday, April 16th. BMO Capital Markets upgraded Albertsons Companies from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $19.00 to $25.00 in a report on Wednesday, May 7th. Barclays began coverage on Albertsons Companies in a report on Monday, July 21st. They set an "underweight" rating and a $19.00 price target on the stock. Evercore ISI cut their price target on Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded Albertsons Companies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Albertsons Companies has a consensus rating of "Moderate Buy" and a consensus target price of $24.06.

Insider Transactions at Albertsons Companies

In other news, EVP Omer Gajial sold 47,303 shares of the business'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 value of $1,015,122.38. Following the completion of the transaction, the executive vice president directly owned 162,569 shares in the company, valued at approximately $3,488,730.74. The trade was a 22.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.35% of the company's stock.

Albertsons Companies Trading Up 0.1%

ACI traded up $0.02 during mid-day trading on Tuesday, reaching $19.28. The stock had a trading volume of 5,836,464 shares, compared to its average volume of 7,176,482. The stock has a market capitalization of $10.79 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.97 and a beta of 0.46. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.18 and a current ratio of 0.82. The firm's fifty day simple moving average is $21.22 and its two-hundred day simple moving average is $21.23. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $23.20.

Albertsons Companies (NYSE:ACI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.01. The firm had revenue of $24.88 billion for the quarter, compared to analysts' expectations 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 period last year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Albertsons Companies, Inc. will post 2.14 EPS for the current year.

Albertsons Companies Announces Dividend

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

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.