Yakira Capital Management Inc. reduced its position in shares of Albertsons Companies, Inc. (NYSE:ACI - Free Report) by 87.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,128 shares of the company's stock after selling 241,500 shares during the period. Yakira Capital Management Inc.'s holdings in Albertsons Companies were worth $670,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ACI. Federated Hermes Inc. lifted its position in Albertsons Companies by 8.4% during the 4th quarter. Federated Hermes Inc. now owns 790,039 shares of the company's stock worth $15,516,000 after acquiring an additional 60,993 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Albertsons Companies by 75.9% during the 4th quarter. Russell Investments Group Ltd. now owns 259,149 shares of the company's stock valued at $5,089,000 after purchasing an additional 111,842 shares during the period. Envestnet Asset Management Inc. grew its holdings in Albertsons Companies by 54.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 138,347 shares of the company's stock valued at $2,717,000 after buying an additional 48,752 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Albertsons Companies in the 4th quarter valued at approximately $2,238,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Albertsons Companies by 201.4% during the fourth quarter. Wells Fargo & Company MN now owns 307,265 shares of the company's stock worth $6,035,000 after buying an additional 205,335 shares during the last quarter. 71.35% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ACI has been the topic of several research analyst reports. Citigroup began coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They issued a "buy" rating and a $26.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price target on shares of Albertsons Companies in a research report on Thursday, April 3rd. Bank of America initiated coverage on shares of Albertsons Companies in a research report on Friday, December 13th. They set a "neutral" rating and a $22.00 price objective for the company. Telsey Advisory Group reissued an "outperform" rating and set a $26.00 target price on shares of Albertsons Companies in a research report on Friday. Finally, Evercore ISI upped their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an "in-line" rating in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $23.50.
View Our Latest Analysis on ACI
Albertsons Companies Price Performance
Shares of ACI traded down $0.22 during trading hours on Friday, hitting $21.15. The stock had a trading volume of 1,555,861 shares, compared to its average volume of 4,133,774. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.92 and a beta of 0.47. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. The company's fifty day moving average is $21.14 and its two-hundred day moving average is $19.87. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $23.20.
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 the consensus estimate of $0.64 by $0.07. The company had revenue of $18.77 billion during the quarter, compared to analyst estimates of $18.82 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. On average, analysts anticipate that Albertsons Companies, Inc. will post 2.14 EPS for the current year.
About Albertsons Companies
(
Free Report)
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.
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