Russell Investments Group Ltd. Buys 69,013 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Russell Investments Group Ltd. lifted its stake in Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 140.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,097 shares of the company's stock after buying an additional 69,013 shares during the period. Russell Investments Group Ltd.'s holdings in Albertsons Companies were worth $2,716,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Albertsons Companies by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,144,018 shares of the company's stock worth $754,026,000 after purchasing an additional 2,950,786 shares during the period. LSV Asset Management lifted its position in Albertsons Companies by 22.5% in the third quarter. LSV Asset Management now owns 4,709,600 shares of the company's stock valued at $107,143,000 after purchasing an additional 865,554 shares during the period. Alpine Associates Management Inc. boosted its holdings in Albertsons Companies by 11.9% in the 3rd quarter. Alpine Associates Management Inc. now owns 4,267,518 shares of the company's stock valued at $97,086,000 after purchasing an additional 454,400 shares in the last quarter. Westchester Capital Management LLC acquired a new position in Albertsons Companies during the 3rd quarter worth approximately $64,739,000. Finally, Hsbc Holdings PLC raised its stake in shares of Albertsons Companies by 232.2% during the 3rd quarter. Hsbc Holdings PLC now owns 2,485,704 shares of the company's stock worth $56,596,000 after buying an additional 1,737,466 shares in the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACI shares. Evercore ISI decreased their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 16th. Royal Bank of Canada lowered their price target on Albertsons Companies from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Tuesday, April 23rd. Roth Mkm raised Albertsons Companies from a "neutral" rating to a "buy" rating and set a $24.00 price objective for the company in a report on Tuesday, April 23rd. Roth Capital upgraded Albertsons Companies from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 23rd. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $27.25 price target on shares of Albertsons Companies in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Albertsons Companies has an average rating of "Moderate Buy" and a consensus target price of $24.45.

Albertsons Companies Price Performance

Albertsons Companies stock traded up $0.11 during mid-day trading on Tuesday, hitting $20.80. 1,566,561 shares of the company were exchanged, compared to its average volume of 3,214,349. The business's 50 day simple moving average is $20.73 and its two-hundred day simple moving average is $21.44. Albertsons Companies, Inc. has a 12-month low of $19.84 and a 12-month high of $23.88. The company has a market capitalization of $12.01 billion, a P/E ratio of 9.29, a PEG ratio of 1.06 and a beta of 0.51. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.84 and a quick ratio of 0.18.

Albertsons Companies (NYSE:ACI - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Albertsons Companies had a return on equity of 68.02% and a net margin of 1.64%. The company had revenue of $18.34 billion during the quarter, compared to the consensus estimate of $18.40 billion. Analysts forecast that Albertsons Companies, Inc. will post 2.44 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Thursday, April 25th. Albertsons Companies's dividend payout ratio is currently 21.52%.

Insider Activity at Albertsons Companies

In other news, CAO Robert Bruce Larson sold 24,362 shares of the firm's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $20.24, for a total transaction of $493,086.88. Following the completion of the sale, the chief accounting officer now directly owns 50,241 shares in the company, valued at $1,016,877.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Anuj Dhanda sold 100,000 shares of the firm's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $20.35, for a total transaction of $2,035,000.00. Following the transaction, the insider now directly owns 365,297 shares in the company, valued at $7,433,793.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Bruce Larson sold 24,362 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $20.24, for a total transaction of $493,086.88. Following the sale, the chief accounting officer now directly owns 50,241 shares in the company, valued at $1,016,877.84. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Albertsons Companies 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.