Albertsons Companies, Inc. $ACI Shares Sold by Towerview LLC

Towerview LLC trimmed its holdings in shares of Albertsons Companies, Inc. (NYSE:ACI) by 18.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 505,435 shares of the company’s stock after selling 114,565 shares during the quarter. Albertsons Companies comprises approximately 7.8% of Towerview LLC’s holdings, making the stock its 4th largest holding. Towerview LLC’s holdings in Albertsons Companies were worth $10,872,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. West Oak Capital LLC acquired a new stake in Albertsons Companies during the 2nd quarter worth about $30,000. SVB Wealth LLC acquired a new position in shares of Albertsons Companies in the 1st quarter valued at about $32,000. GAMMA Investing LLC boosted its stake in shares of Albertsons Companies by 340.1% in the first quarter. GAMMA Investing LLC now owns 1,919 shares of the company’s stock worth $42,000 after buying an additional 1,483 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in Albertsons Companies during the second quarter worth about $43,000. Finally, Plato Investment Management Ltd purchased a new position in Albertsons Companies during the first quarter valued at approximately $53,000. 71.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Albertsons Companies

In other Albertsons Companies news, EVP Michael T. Theilmann sold 100,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $19.35, for a total transaction of $1,935,000.00. Following the sale, the executive vice president owned 338,429 shares in the company, valued at $6,548,601.15. This represents a 22.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anuj Dhanda sold 230,000 shares of the business’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $19.25, for a total value of $4,427,500.00. Following the transaction, the insider directly owned 300,577 shares of the company’s stock, valued at approximately $5,786,107.25. This represents a 43.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.35% of the stock is owned by corporate insiders.

Albertsons Companies Price Performance

ACI opened at $17.47 on Friday. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.85 and a beta of 0.52. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.25. The stock’s 50-day moving average price is $18.27 and its 200 day moving average price is $20.12. Albertsons Companies, Inc. has a 12-month low of $16.70 and a 12-month high of $23.20.

Albertsons Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be issued a $0.15 dividend. The ex-dividend date is Friday, October 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. Albertsons Companies’s payout ratio is 35.50%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACI. Wells Fargo & Company cut their target price on shares of Albertsons Companies from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $24.00 price target on shares of Albertsons Companies in a research report on Wednesday, October 15th. Royal Bank Of Canada cut their price objective on Albertsons Companies from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Barclays initiated coverage on Albertsons Companies in a research note on Monday, July 21st. They issued an “underweight” rating and a $19.00 price target on the stock. Finally, Zacks Research upgraded shares of Albertsons Companies from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.