Principal Financial Group Inc. Purchases 912,217 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Principal Financial Group Inc. raised its position in Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 4,247.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 933,693 shares of the company's stock after purchasing an additional 912,217 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Albertsons Companies worth $20,532,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Jump Financial LLC bought a new position in shares of Albertsons Companies during the 4th quarter valued at about $11,800,000. Proficio Capital Partners LLC bought a new position in shares of Albertsons Companies during the 4th quarter valued at about $243,000. Allspring Global Investments Holdings LLC bought a new position in shares of Albertsons Companies during the 1st quarter valued at about $1,420,000. Bessemer Group Inc. bought a new stake in Albertsons Companies in the 1st quarter valued at approximately $40,000. Finally, III Capital Management bought a new stake in Albertsons Companies in the 4th quarter valued at approximately $5,892,000. Institutional investors own 71.35% of the company's stock.

Albertsons Companies Stock Performance

ACI traded down $0.16 during trading hours on Friday, reaching $22.13. The company's stock had a trading volume of 4,407,682 shares, compared to its average volume of 4,969,747. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $23.20. The company's 50-day moving average is $21.80 and its 200-day moving average is $21.19. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.22 and a current ratio of 0.90. The firm has a market cap of $12.74 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 2.25 and a beta of 0.44.

Albertsons Companies (NYSE:ACI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.06. Albertsons Companies had a return on equity of 41.03% and a net margin of 1.19%. The business had revenue of $18.80 billion for the quarter, compared to analysts' expectations of $18.78 billion. During the same quarter in the prior year, the business earned $0.54 EPS. On average, equities analysts forecast 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 was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Friday, April 25th. Albertsons Companies's dividend payout ratio (DPR) is presently 36.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Telsey Advisory Group restated an "outperform" rating and issued a $24.00 target price on shares of Albertsons Companies in a research note on Monday, July 7th. Tigress Financial restated a "buy" rating and issued a $28.00 target price on shares of Albertsons Companies in a research note on Tuesday. BMO Capital Markets upgraded Albertsons Companies from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $19.00 to $25.00 in a research note on Wednesday, May 7th. Evercore ISI cut their target price on Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $23.00 target price on shares of Albertsons Companies in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.21.

Insiders Place Their Bets

In other Albertsons Companies news, EVP Omer Gajial sold 47,303 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $21.46, for a total transaction of $1,015,122.38. Following the transaction, the executive vice president owned 162,569 shares in the company, valued at $3,488,730.74. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.35% of the company's stock.

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.