Albertsons Companies, Inc. $ACI Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in Albertsons Companies, Inc. (NYSE:ACI) by 2,707.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 123,867 shares of the company’s stock after buying an additional 119,455 shares during the quarter. Fifth Third Bancorp’s holdings in Albertsons Companies were worth $2,111,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ACI. CWM LLC grew its holdings in Albertsons Companies by 103.5% during the 4th quarter. CWM LLC now owns 1,435 shares of the company’s stock worth $25,000 after acquiring an additional 730 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Albertsons Companies by 185.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,628 shares of the company’s stock worth $28,000 after purchasing an additional 1,057 shares in the last quarter. NBC Securities Inc. increased its holdings in Albertsons Companies by 91.2% in the fourth quarter. NBC Securities Inc. now owns 1,855 shares of the company’s stock valued at $32,000 after buying an additional 885 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Albertsons Companies by 172.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,062 shares of the company’s stock valued at $35,000 after buying an additional 1,306 shares during the last quarter. Finally, Elevation Wealth Partners LLC acquired a new stake in Albertsons Companies in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

Albertsons Companies Stock Performance

NYSE ACI opened at $14.70 on Wednesday. The firm has a market cap of $7.20 billion, a P/E ratio of 45.94, a P/E/G ratio of 1.71 and a beta of 0.42. Albertsons Companies, Inc. has a 52-week low of $13.16 and a 52-week high of $20.91. The business’s 50-day moving average price is $15.08 and its 200 day moving average price is $16.45. The company has a quick ratio of 0.20, a current ratio of 0.86 and a debt-to-equity ratio of 4.58.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, July 24th. Albertsons Companies’s dividend payout ratio (DPR) is 212.50%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup decreased their price target on Albertsons Companies from $22.00 to $17.00 and set a “buy” rating for the company in a report on Monday, June 29th. JPMorgan Chase & Co. cut their price target on Albertsons Companies from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of Albertsons Companies in a report on Monday, April 6th. Wells Fargo & Company lowered their target price on shares of Albertsons Companies from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Finally, UBS Group cut their target price on shares of Albertsons Companies from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.25.

Albertsons Companies Company Profile

Albertsons Companies, Inc (NYSE: ACI) is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company’s retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.

Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.