Franklin Resources Inc. Trims Stake in Albertsons Companies, Inc. (NYSE:ACI)

Franklin Resources Inc. trimmed its holdings in Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 21.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 387,766 shares of the company's stock after selling 105,606 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Albertsons Companies worth $7,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACI. Signaturefd LLC raised its stake in shares of Albertsons Companies by 108.4% in the 2nd quarter. Signaturefd LLC now owns 2,365 shares of the company's stock valued at $47,000 after acquiring an additional 1,230 shares during the period. Intact Investment Management Inc. purchased a new stake in Albertsons Companies in the second quarter valued at approximately $126,000. Acadian Asset Management LLC acquired a new position in Albertsons Companies during the second quarter worth $150,000. Headlands Technologies LLC boosted its position in shares of Albertsons Companies by 2,243.9% during the second quarter. Headlands Technologies LLC now owns 8,977 shares of the company's stock worth $177,000 after buying an additional 8,594 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Albertsons Companies in the third quarter valued at $185,000. Institutional investors and hedge funds own 71.35% of the company's stock.

Albertsons Companies Stock Up 0.6 %

NYSE:ACI traded up $0.11 during trading hours on Monday, hitting $19.63. The company's stock had a trading volume of 3,465,347 shares, compared to its average volume of 3,347,921. Albertsons Companies, Inc. has a 52-week low of $17.00 and a 52-week high of $23.47. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $11.37 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. The stock has a fifty day moving average of $18.98 and a 200-day moving average of $19.34.

Albertsons Companies (NYSE:ACI - Get Free Report) last issued its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. On average, equities analysts forecast that Albertsons Companies, Inc. will post 2.13 earnings per share for the current year.

Albertsons Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a dividend of $0.12 per share. The ex-dividend date was Monday, October 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.45%. Albertsons Companies's dividend payout ratio is presently 28.07%.

Analysts Set New Price Targets

ACI has been the subject of a number of research analyst reports. Melius Research upgraded Albertsons Companies from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a report on Monday, October 21st. BMO Capital Markets lowered their price objective on shares of Albertsons Companies from $21.00 to $19.00 and set a "market perform" rating for the company in a research note on Wednesday, October 16th. Bank of America initiated coverage on shares of Albertsons Companies in a report on Friday, December 13th. They issued a "neutral" rating and a $22.00 price objective for the company. Tigress Financial reissued a "buy" rating and issued a $27.00 price target on shares of Albertsons Companies in a research report on Monday, October 21st. Finally, Melius raised Albertsons Companies from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a research report on Monday, October 21st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.75.

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.