15,188,476 Shares in Albertsons Companies, Inc. (NYSE:ACI) Purchased by Norges Bank

Norges Bank acquired a new position in Albertsons Companies, Inc. (NYSE:ACI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,188,476 shares of the company's stock, valued at approximately $298,302,000. Norges Bank owned approximately 2.62% of Albertsons Companies as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC raised its holdings in shares of Albertsons Companies by 108.4% in the 4th 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 in the last quarter. Capital Advisors Ltd. LLC raised its stake in Albertsons Companies by 225.1% in the fourth 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 in the last quarter. Synovus Financial Corp raised its stake in Albertsons Companies by 10.0% in the third quarter. Synovus Financial Corp now owns 13,192 shares of the company's stock valued at $244,000 after purchasing an additional 1,197 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Albertsons Companies by 316.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company's stock valued at $35,000 after purchasing an additional 1,358 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Albertsons Companies by 1.4% in the 4th quarter. Arizona State Retirement System now owns 109,337 shares of the company's stock worth $2,147,000 after buying an additional 1,498 shares in the last quarter. Institutional investors own 71.35% of the company's stock.

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Albertsons Companies Trading Up 1.7 %

ACI traded up $0.37 during midday trading on Monday, reaching $21.99. 7,511,787 shares of the company's stock traded hands, compared to its average volume of 4,049,426. The firm has a fifty day moving average of $20.77 and a two-hundred day moving average of $19.67. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 12.36, 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. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $22.05.

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

Albertsons Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, January 24th. This is a positive change from Albertsons Companies's previous quarterly dividend of $0.12. Albertsons Companies's dividend payout ratio (DPR) is 33.71%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACI. Royal Bank of Canada lifted their price objective on shares of Albertsons Companies from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Thursday, March 13th. Evercore ISI raised their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an "in-line" rating in a research report on Tuesday, March 11th. The Goldman Sachs Group reiterated a "buy" rating and issued a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday, February 4th. Telsey Advisory Group reissued an "outperform" rating and set a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday, March 11th. Finally, Bank of America started coverage on Albertsons Companies in a research report on Friday, December 13th. They issued a "neutral" rating and a $22.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

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.