Geode Capital Management LLC Raises Stock Position in Albertsons Companies, Inc. (NYSE:ACI)

Geode Capital Management LLC boosted its stake in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,491,772 shares of the company's stock after buying an additional 428,506 shares during the period. Geode Capital Management LLC owned approximately 1.64% of Albertsons Companies worth $186,211,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ACI. Norges Bank bought a new position in shares of Albertsons Companies in the fourth quarter worth approximately $298,302,000. Vanguard Group Inc. lifted its position in Albertsons Companies by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 36,310,122 shares of the company's stock valued at $713,131,000 after acquiring an additional 2,347,875 shares in the last quarter. Trium Capital LLP purchased a new stake in Albertsons Companies during the 4th quarter valued at $23,678,000. Anson Funds Management LP increased its holdings in shares of Albertsons Companies by 973.0% in the 3rd quarter. Anson Funds Management LP now owns 1,190,165 shares of the company's stock worth $21,994,000 after purchasing an additional 1,079,246 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Albertsons Companies in the 4th quarter worth $15,544,000. Hedge funds and other institutional investors own 71.35% of the company's stock.

Wall Street Analysts Forecast Growth

ACI has been the topic of several recent analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $26.00 price objective on shares of Albertsons Companies in a research report on Friday. Citigroup assumed coverage on shares of Albertsons Companies in a report on Friday, January 24th. They set a "buy" rating and a $26.00 price target on the stock. UBS Group reduced their price target on shares of Albertsons Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, December 17th. The Goldman Sachs Group restated a "buy" rating and set a $26.00 price objective on shares of Albertsons Companies in a research report on Tuesday, February 4th. Finally, Evercore ISI lifted their target price on shares of Albertsons Companies from $21.00 to $22.00 and gave the stock an "in-line" rating in a research report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $23.50.

Remove Ads

Albertsons Companies Stock Performance

ACI traded down $0.24 during midday trading on Friday, reaching $21.12. The company had a trading volume of 5,069,104 shares, compared to its average volume of 4,153,047. The business has a 50-day moving average of $21.16 and a two-hundred day moving average of $19.89. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. Albertsons Companies, Inc. has a 1 year low of $17.00 and a 1 year high of $23.20. The company has a market cap of $12.24 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.92 and a beta of 0.47.

Albertsons Companies (NYSE:ACI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.07. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The company had revenue of $18.77 billion during the quarter, compared to the consensus estimate of $18.82 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm's revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts predict that Albertsons Companies, Inc. will post 2.14 earnings per share for the current fiscal year.

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.