Bank of New York Mellon Corp Sells 81,681 Shares of Albertsons Companies, Inc. $ACI

Bank of New York Mellon Corp reduced its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 5,278,839 shares of the company’s stock after selling 81,681 shares during the quarter. Bank of New York Mellon Corp’s holdings in Albertsons Companies were worth $89,951,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Albertsons Companies during the 4th quarter worth approximately $388,089,000. Vanguard Group Inc. lifted its stake in shares of Albertsons Companies by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 39,330,507 shares of the company’s stock valued at $675,305,000 after purchasing an additional 5,110,777 shares during the period. Strategic Global Advisors LLC purchased a new position in shares of Albertsons Companies in the 4th quarter valued at approximately $2,858,000. Tudor Investment Corp ET AL lifted its stake in shares of Albertsons Companies by 416.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 338,078 shares of the company’s stock valued at $5,920,000 after purchasing an additional 272,678 shares during the period. Finally, Arbejdsmarkedets Tillaegspension bought a new stake in shares of Albertsons Companies during the fourth quarter valued at approximately $23,178,000. 71.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ACI has been the topic of several recent research reports. Weiss Ratings cut Albertsons Companies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price objective on shares of Albertsons Companies in a research report on Monday, April 6th. Citigroup dropped their target price on shares of Albertsons Companies from $22.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Wells Fargo & Company reduced 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, JPMorgan Chase & Co. decreased their price target on shares of Albertsons Companies from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, June 30th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Albertsons Companies has a consensus rating of “Hold” and a consensus price target of $20.25.

Albertsons Companies Stock Performance

Shares of ACI opened at $14.70 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.86 and a debt-to-equity ratio of 4.58. The stock 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. The business’s 50 day moving average price is $15.08 and its 200-day moving average price is $16.45. Albertsons Companies, Inc. has a 52 week low of $13.16 and a 52 week high of $20.91.

Albertsons Companies Dividend Announcement

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

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.