Comerica Bank Cuts Position in Albertsons Companies, Inc. (NYSE:ACI)

Comerica Bank trimmed its position in shares of Albertsons Companies, Inc. (NYSE:ACI) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,788 shares of the company’s stock after selling 2,907 shares during the period. Comerica Bank’s holdings in Albertsons Companies were worth $742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC lifted its stake in Albertsons Companies by 108.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Albertsons Companies by 225.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after purchasing an additional 959 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Albertsons Companies by 316.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock worth $35,000 after purchasing an additional 1,358 shares in the last quarter. Ossiam purchased a new position in shares of Albertsons Companies in the fourth quarter valued at approximately $93,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Albertsons Companies by 91.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,610 shares of the company’s stock valued at $169,000 after purchasing an additional 4,101 shares during the period. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACI has been the topic of several recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $26.00 target price on shares of Albertsons Companies in a research note on Friday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Albertsons Companies in a research report on Wednesday, April 16th. Evercore ISI reduced their price objective on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Thursday, April 17th. 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. Finally, Citigroup initiated coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They issued a “buy” rating and a $26.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Albertsons Companies currently has an average rating of “Moderate Buy” and an average price target of $24.36.

Albertsons Companies Price Performance

Shares of NYSE:ACI opened at $21.84 on Wednesday. Albertsons Companies, Inc. has a 12 month low of $17.00 and a 12 month high of $23.20. The firm has a market capitalization of $12.57 billion, a P/E ratio of 12.27, 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 price is $21.66 and its 200 day moving average price is $20.41.

Albertsons Companies (NYSE:ACI) last posted its earnings results on Tuesday, April 15th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $18.80 billion for the quarter, compared to analysts’ expectations of $18.78 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, sell-side analysts predict that Albertsons Companies, Inc. will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, April 25th. Albertsons Companies’s payout ratio is currently 36.59%.

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.