Cinctive Capital Management LP Takes $3.92 Million Position in Albertsons Companies, Inc. (NYSE:ACI)

Cinctive Capital Management LP bought a new stake in Albertsons Companies, Inc. (NYSE:ACI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 199,669 shares of the company’s stock, valued at approximately $3,921,000.

Several other hedge funds have also recently added to or reduced their stakes in ACI. Eagle Bay Advisors LLC lifted its position in Albertsons Companies by 108.4% during 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 in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Albertsons Companies by 225.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after acquiring an additional 959 shares in the last quarter. Synovus Financial Corp increased its holdings in Albertsons Companies by 10.0% during the 3rd quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock worth $244,000 after purchasing an additional 1,197 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Albertsons Companies by 316.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after acquiring an additional 1,358 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Albertsons Companies by 1.4% in the 4th quarter. Arizona State Retirement System now owns 109,337 shares of the company’s stock valued at $2,147,000 after purchasing an additional 1,498 shares in the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACI has been the subject of several research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, February 4th. Morgan Stanley lowered their price target on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Citigroup initiated coverage on Albertsons Companies in a report on Friday, January 24th. They set a “buy” rating and a $26.00 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, March 11th. Finally, Evercore ISI lifted their target price on Albertsons Companies from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.50.

Albertsons Companies Stock Performance

Shares of ACI stock opened at $22.45 on Thursday. The firm has a market cap of $13.01 billion, a P/E ratio of 12.61, a PEG ratio of 1.92 and a beta of 0.50. The stock’s 50-day moving average is $20.88 and its two-hundred day moving average is $19.72. Albertsons Companies, Inc. has a fifty-two week low of $17.00 and a fifty-two week high of $22.59. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21.

Albertsons Companies (NYSE:ACI) last posted its earnings results on Wednesday, January 8th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The firm had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts predict that Albertsons Companies, Inc. will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio (DPR) is 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.