Sound Shore Management Inc. CT Sells 398,798 Shares of Albertsons Companies, Inc. $ACI

Key Points

• Sound Shore Management cut its Albertsons stake by 8.8% in the first quarter, selling 398,798 shares and leaving it with 4,134,360 shares worth about $70.4 million.
• Other institutional investors remain heavily invested in Albertsons, with firms like Vanguard, Norges Bank, and Dimensional Fund Advisors making sizable holdings; institutions own about 71.35% of the company.
• Albertsons shares were trading around $15.15, near the low end of their 52-week range, while analysts on average rate the stock Hold with a consensus price target of $20.25. The company also announced a quarterly dividend of $0.17 per share, implying a 4.5% yield.

Sound Shore Management Inc. CT lowered its position in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,134,360 shares of the company's stock after selling 398,798 shares during the period. Albertsons Companies accounts for about 2.4% of Sound Shore Management Inc. CT's holdings, making the stock its 29th biggest position. Sound Shore Management Inc. CT owned 0.84% of Albertsons Companies worth $70,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Albertsons Companies by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 39,330,507 shares of the company's stock worth $675,305,000 after purchasing an additional 5,110,777 shares in the last quarter. Norges Bank purchased a new position in shares of Albertsons Companies during the 4th quarter valued at $388,089,000. Dimensional Fund Advisors LP increased its holdings in shares of Albertsons Companies by 62.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,429,784 shares of the company's stock worth $230,595,000 after purchasing an additional 5,159,905 shares during the period. Morgan Stanley raised its position in shares of Albertsons Companies by 101.0% in the fourth quarter. Morgan Stanley now owns 11,687,694 shares of the company's stock worth $200,678,000 after buying an additional 5,873,759 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Albertsons Companies by 1.7% in the fourth quarter. LSV Asset Management now owns 11,130,407 shares of the company's stock worth $191,109,000 after buying an additional 183,900 shares in the last quarter. Institutional investors own 71.35% of the company's stock.

Albertsons Companies Stock Performance

NYSE ACI opened at $15.15 on Monday. Albertsons Companies, Inc. has a 52-week low of $13.16 and a 52-week high of $20.91. The company has a fifty day moving average of $15.12 and a 200-day moving average of $16.49. The company has a market capitalization of $7.42 billion, a P/E ratio of 47.33, a P/E/G ratio of 1.73 and a beta of 0.42. The company has a debt-to-equity ratio of 4.58, a quick ratio of 0.20 and a current ratio of 0.86.

Albertsons Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.68 annualized dividend and a yield of 4.5%. Albertsons Companies's payout ratio is 212.50%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACI. Wells Fargo & Company dropped their price objective on Albertsons Companies from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. Citigroup lowered their price target on Albertsons Companies from $22.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Weiss Ratings downgraded Albertsons Companies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 29th. UBS Group cut their price objective on Albertsons Companies from $23.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 price objective on shares of Albertsons Companies in a research report on Monday, April 6th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Albertsons Companies currently has an average rating of "Hold" and an average target price of $20.25.

Albertsons Companies Profile

Albertsons Companies, Inc NYSE: ACI is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company's retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.

Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.

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