The Manufacturers Life Insurance Company Purchases 20,161 Shares of Albertsons Companies, Inc. (NYSE:ACI)

The Manufacturers Life Insurance Company raised its stake in Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 186.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,984 shares of the company's stock after buying an additional 20,161 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Albertsons Companies were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. raised its position in shares of Albertsons Companies by 2.0% during the fourth quarter. Private Management Group Inc. now owns 2,196,484 shares of the company's stock worth $43,138,000 after purchasing an additional 43,532 shares during the period. Jump Financial LLC acquired a new stake in shares of Albertsons Companies during the fourth quarter worth about $11,800,000. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Albertsons Companies during the fourth quarter worth about $746,000. ORBA Wealth Advisors L.L.C. acquired a new stake in Albertsons Companies in the 4th quarter valued at approximately $433,000. Finally, Econ Financial Services Corp acquired a new stake in Albertsons Companies in the 4th quarter valued at approximately $499,000. Institutional investors and hedge funds own 71.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Albertsons Companies from $24.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Citigroup assumed coverage on Albertsons Companies in a research report on Friday, January 24th. They issued a "buy" rating and a $26.00 target price on the stock. BMO Capital Markets raised Albertsons Companies from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $19.00 to $25.00 in a research report on Wednesday, May 7th. Evercore ISI dropped their target price on Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group dropped their target price on Albertsons Companies from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.36.

Insider Transactions at Albertsons Companies

In other news, EVP Omer Gajial sold 47,303 shares of Albertsons Companies stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 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 legal filing with the SEC, which can be accessed through this link. 1.26% of the stock is currently owned by corporate insiders.

Albertsons Companies Trading Up 0.3%

NYSE ACI opened at $22.04 on Thursday. The company has a market cap of $12.69 billion, a PE ratio of 12.38, a PEG ratio of 1.92 and a beta of 0.47. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. Albertsons Companies, Inc. has a 12 month low of $17.00 and a 12 month high of $23.20. The stock has a 50 day moving average of $21.74 and a 200-day moving average of $20.54.

Albertsons Companies (NYSE:ACI - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The company had revenue of $18.80 billion during the quarter, compared to the consensus estimate of $18.78 billion. During the same period in the previous year, the company posted $0.54 EPS. On average, equities research analysts anticipate that Albertsons Companies, Inc. will post 2.14 EPS for the current fiscal year.

Albertsons Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.60 annualized dividend and a dividend yield of 2.72%. Albertsons Companies's dividend payout ratio is currently 36.59%.

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.