KLP Kapitalforvaltning AS Takes $2.29 Million Position in Albertsons Companies, Inc. (NYSE:ACI)

KLP Kapitalforvaltning AS acquired a new stake in Albertsons Companies, Inc. (NYSE:ACI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 116,700 shares of the company's stock, valued at approximately $2,292,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Eagle Bay Advisors LLC lifted its stake in Albertsons Companies by 108.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company's stock valued at $26,000 after acquiring an additional 700 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Albertsons Companies by 225.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company's stock valued at $27,000 after purchasing an additional 959 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company's stock worth $35,000 after purchasing an additional 1,358 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Albertsons Companies by 91.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,610 shares of the company's stock worth $169,000 after purchasing an additional 4,101 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Albertsons Companies in the fourth quarter valued at about $179,000. 71.35% of the stock is currently owned by institutional investors.

Albertsons Companies Stock Up 1.8 %

Shares of NYSE:ACI traded up $0.39 during trading hours on Tuesday, hitting $22.38. The company's stock had a trading volume of 5,353,746 shares, compared to its average volume of 4,057,092. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $22.40. The firm's fifty day moving average price is $20.83 and its 200 day moving average price is $19.70. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.92 and a beta of 0.50. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21.

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

Albertsons Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were issued a $0.15 dividend. The ex-dividend date was Friday, January 24th. This is an increase from Albertsons Companies's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 2.68%. Albertsons Companies's payout ratio is presently 33.71%.

Analyst Upgrades and Downgrades

ACI has been the topic of several research reports. Evercore ISI upped their price objective on shares of Albertsons Companies from $21.00 to $22.00 and gave the company an "in-line" rating in a report on Tuesday, March 11th. The Goldman Sachs Group restated a "buy" rating and set a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, February 4th. Citigroup assumed coverage on Albertsons Companies in a research note on Friday, January 24th. They issued a "buy" rating and a $26.00 price objective for the company. Morgan Stanley dropped their price objective on Albertsons Companies from $24.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Finally, Bank of America began coverage on Albertsons Companies in a research report on Friday, December 13th. They issued a "neutral" rating and a $22.00 price target for the company. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Albertsons Companies presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

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.