Cornerstone Investment Partners LLC Purchases 5,463 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Cornerstone Investment Partners LLC raised its position in Albertsons Companies, Inc. (NYSE:ACI) by 42.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,409 shares of the company’s stock after buying an additional 5,463 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Albertsons Companies were worth $362,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Eagle Bay Advisors LLC raised its stake in shares of 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 buying an additional 700 shares during the period. Capital Advisors Ltd. LLC increased its stake in Albertsons Companies by 225.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after acquiring an additional 959 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Albertsons Companies by 91.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,610 shares of the company’s stock worth $169,000 after acquiring an additional 4,101 shares during the last quarter. R Squared Ltd bought a new position in Albertsons Companies in the 4th quarter worth about $179,000. Finally, Assenagon Asset Management S.A. bought a new position in Albertsons Companies in the 3rd quarter worth about $185,000. 71.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACI has been the subject of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 price objective on shares of Albertsons Companies in a report on Thursday, January 9th. Citigroup assumed coverage on Albertsons Companies in a report on Friday, January 24th. They set a “buy” rating and a $26.00 target price for the company. UBS Group dropped their target price on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Bank of America assumed coverage on Albertsons Companies in a report on Friday, December 13th. They set a “neutral” rating and a $22.00 target price for the company. Finally, Evercore ISI increased 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.21.

Albertsons Companies Stock Down 1.5 %

Shares of NYSE:ACI opened at $20.72 on Tuesday. Albertsons Companies, Inc. has a 52-week low of $17.00 and a 52-week high of $21.67. The firm has a market capitalization of $12.00 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.92 and a beta of 0.51. The stock has a 50 day moving average price of $20.23 and a 200-day moving average price of $19.47. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93.

Albertsons Companies (NYSE:ACI) last announced its earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The firm had revenue of $18.77 billion during the quarter, compared to analyst estimates of $18.82 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Albertsons Companies, Inc. will post 2.14 EPS for the current fiscal year.

Albertsons Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.60 annualized dividend and a dividend yield of 2.90%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio is currently 33.71%.

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.