Truist Financial Corp Invests $2.29 Million in Albertsons Companies, Inc. (NYSE:ACI)

Truist Financial Corp acquired a new position in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 116,522 shares of the company's stock, valued at approximately $2,288,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of Albertsons Companies by 0.5% in the fourth quarter. Rhumbline Advisers now owns 464,963 shares of the company's stock valued at $9,132,000 after purchasing an additional 2,186 shares during the period. Roman Butler Fullerton & Co. purchased a new stake in Albertsons Companies during the 4th quarter worth approximately $243,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Albertsons Companies by 6.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 714,276 shares of the company's stock valued at $14,028,000 after purchasing an additional 43,554 shares during the period. Private Management Group Inc. grew 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 buying an additional 43,532 shares in the last quarter. Finally, Econ Financial Services Corp purchased a new stake in shares of Albertsons Companies in the 4th quarter valued at approximately $499,000. 71.35% of the stock is owned by institutional investors and hedge funds.

Albertsons Companies Trading Up 1.1 %

Shares of ACI stock traded up $0.23 during mid-day trading on Friday, hitting $21.05. 4,702,007 shares of the company's stock were exchanged, compared to its average volume of 5,242,103. The stock has a 50-day simple moving average of $20.21 and a two-hundred day simple moving average of $19.47. 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 fifty-two week low of $17.00 and a fifty-two week high of $21.67. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.92 and a beta of 0.51.

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 the consensus estimate of $0.64 by $0.07. The company had revenue of $18.77 billion during the quarter, compared to analysts' expectations of $18.82 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 EPS. Equities analysts expect that Albertsons Companies, Inc. will post 2.14 EPS for the current fiscal year.

Albertsons Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a $0.15 dividend. This is a positive change from Albertsons Companies's previous quarterly dividend of $0.12. The ex-dividend date was Friday, January 24th. This represents a $0.60 annualized dividend and a yield of 2.85%. Albertsons Companies's dividend payout ratio (DPR) is presently 33.71%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ACI. UBS Group decreased their target price on Albertsons Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, December 17th. Evercore ISI boosted their target price on Albertsons Companies from $18.00 to $19.00 and gave the company an "in-line" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group restated a "buy" rating and issued a $26.00 price objective on shares of Albertsons Companies in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $22.00 price target on shares of Albertsons Companies in a report on Tuesday, January 7th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $26.00 target price on shares of Albertsons Companies in a report on Thursday, January 9th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.21.

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.