State of Michigan Retirement System Has $2.59 Million Stake in Albertsons Companies, Inc. (NYSE:ACI)

State of Michigan Retirement System grew its stake in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 469.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 117,800 shares of the company's stock after buying an additional 97,100 shares during the period. State of Michigan Retirement System's holdings in Albertsons Companies were worth $2,590,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Jump Financial LLC acquired a new position in shares of Albertsons Companies during the fourth quarter valued at about $11,800,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Albertsons Companies during the first quarter valued at about $1,420,000. Bessemer Group Inc. acquired a new position in shares of Albertsons Companies during the first quarter valued at about $40,000. III Capital Management acquired a new position in shares of Albertsons Companies during the fourth quarter valued at about $5,892,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Albertsons Companies during the fourth quarter valued at about $232,000. Institutional investors and hedge funds own 71.35% of the company's stock.

Albertsons Companies Stock Performance

NYSE ACI opened at $22.13 on Monday. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.25 and a beta of 0.44. The company has a 50 day moving average of $21.80 and a 200-day moving average of $21.20. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.29. Albertsons Companies, Inc. has a 1-year low of $17.00 and a 1-year high of $23.20.

Albertsons Companies (NYSE:ACI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $18.80 billion during the quarter, compared to analyst estimates of $18.78 billion. Albertsons Companies had a net margin of 1.19% and a return on equity of 41.03%. During the same quarter last year, the business posted $0.54 earnings per share. On average, equities analysts forecast that Albertsons Companies, Inc. will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, April 25th. Albertsons Companies's dividend payout ratio is currently 36.59%.

Wall Street Analyst Weigh In

ACI has been the subject of a number of research analyst reports. BMO Capital Markets raised shares of Albertsons Companies from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $19.00 to $25.00 in a research report on Wednesday, May 7th. JPMorgan Chase & Co. set a $31.00 price target on shares of Albertsons Companies in a research report on Tuesday, July 8th. Evercore ISI dropped their price target on shares of 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. Telsey Advisory Group reissued an "outperform" rating and issued a $24.00 price target on shares of Albertsons Companies in a research report on Monday, July 7th. Finally, UBS Group dropped their price target on shares of Albertsons Companies from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Albertsons Companies currently has an average rating of "Moderate Buy" and a consensus target price of $24.21.

Insider Buying and Selling at Albertsons Companies

In related news, EVP Omer Gajial sold 47,303 shares of the firm'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 sale, the executive vice president owned 162,569 shares of the company's stock, valued at $3,488,730.74. This trade represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

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