Albertsons Companies, Inc. (NYSE:ACI) Sees Significant Drop in Short Interest

Albertsons Companies, Inc. (NYSE:ACI) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 10,800,000 shares, a decline of 22.7% from the October 15th total of 13,970,000 shares. Based on an average trading volume of 3,440,000 shares, the short-interest ratio is currently 3.1 days. Currently, 2.6% of the shares of the stock are sold short.

Albertsons Companies Price Performance

ACI stock opened at $18.88 on Friday. Albertsons Companies has a 52-week low of $17.80 and a 52-week high of $23.47. The business has a fifty day moving average of $18.60 and a two-hundred day moving average of $19.58. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. Albertsons Companies’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. As a group, research analysts anticipate that Albertsons Companies will post 2.13 earnings per share for the current year.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.48 annualized dividend and a yield of 2.54%. Albertsons Companies’s dividend payout ratio (DPR) is presently 28.07%.

Analysts Set New Price Targets

ACI has been the subject of several recent research reports. Tigress Financial reissued a “buy” rating and issued a $27.00 price objective on shares of Albertsons Companies in a research note on Monday, October 21st. Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday, October 21st. BMO Capital Markets decreased their target price on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 16th. Finally, Melius Research upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.58.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in Albertsons Companies by 108.4% during the 2nd quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock worth $47,000 after acquiring an additional 1,230 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Albertsons Companies by 2,948.4% in the second quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,801 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of Albertsons Companies by 133.3% in the first quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock valued at $105,000 after purchasing an additional 2,800 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in Albertsons Companies during the 2nd quarter worth approximately $126,000. Finally, Acadian Asset Management LLC acquired a new stake in Albertsons Companies during the 2nd quarter worth approximately $150,000. 71.35% of the stock is currently owned by institutional investors and hedge funds.

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.