Alpine Associates Management Inc. Sells 2,957,942 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Alpine Associates Management Inc. lessened its holdings in Albertsons Companies, Inc. (NYSE:ACI) by 65.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,593,175 shares of the company’s stock after selling 2,957,942 shares during the quarter. Albertsons Companies makes up approximately 1.9% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 16th largest position. Alpine Associates Management Inc.’s holdings in Albertsons Companies were worth $31,290,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Albertsons Companies by 88.1% during the 3rd quarter. FMR LLC now owns 16,841,582 shares of the company’s stock worth $311,232,000 after purchasing an additional 7,887,688 shares during the last quarter. Parsifal Capital Management LP raised its holdings in Albertsons Companies by 22.8% during the 3rd quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock worth $157,946,000 after purchasing an additional 1,585,899 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Albertsons Companies by 25.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock worth $114,033,000 after purchasing an additional 1,239,978 shares during the last quarter. Trium Capital LLP bought a new position in Albertsons Companies during the 4th quarter worth approximately $23,678,000. Finally, Anson Funds Management LP increased its stake in shares of Albertsons Companies by 973.0% in the 3rd quarter. Anson Funds Management LP now owns 1,190,165 shares of the company’s stock valued at $21,994,000 after acquiring an additional 1,079,246 shares in the last quarter. Institutional investors own 71.35% of the company’s stock.

Albertsons Companies Price Performance

ACI opened at $21.46 on Friday. 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 has a market capitalization of $12.43 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 1.92 and a beta of 0.50. The firm’s fifty day moving average price is $20.31 and its two-hundred day moving average price is $19.48. Albertsons Companies, Inc. has a 1 year low of $17.00 and a 1 year high of $21.67.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The firm had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. As a group, 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 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 an increase from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Friday, January 24th. Albertsons Companies’s payout ratio is 33.71%.

Analyst Ratings Changes

Several research firms have recently weighed in on ACI. UBS Group lowered their price objective on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, March 4th. Evercore ISI lifted their price objective on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. 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 for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Albertsons Companies presently has a consensus rating of “Moderate Buy” and a consensus 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.