Principal Financial Group Inc. Trims Stake in Albertsons Companies, Inc. (NYSE:ACI)

Principal Financial Group Inc. lessened its position in shares of Albertsons Companies, Inc. (NYSE:ACI) by 12.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,963 shares of the company’s stock after selling 3,902 shares during the quarter. Principal Financial Group Inc.’s holdings in Albertsons Companies were worth $498,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc acquired a new position in Albertsons Companies in the 2nd quarter valued at about $364,000. Acadian Asset Management LLC purchased a new position in Albertsons Companies during the 2nd quarter worth $150,000. Trium Capital LLP acquired a new stake in shares of Albertsons Companies in the 2nd quarter worth $1,727,000. Quest Partners LLC boosted its holdings in shares of Albertsons Companies by 132.0% in the second quarter. Quest Partners LLC now owns 87,450 shares of the company’s stock valued at $1,727,000 after acquiring an additional 49,756 shares in the last quarter. Finally, Private Management Group Inc. increased its stake in shares of Albertsons Companies by 27.3% during the second quarter. Private Management Group Inc. now owns 1,974,422 shares of the company’s stock worth $38,995,000 after acquiring an additional 423,412 shares during the period. Institutional investors and hedge funds own 71.35% of the company’s stock.

Albertsons Companies Stock Up 0.7 %

Shares of Albertsons Companies stock opened at $19.80 on Monday. Albertsons Companies, Inc. has a twelve month low of $17.00 and a twelve month high of $23.47. The company has a fifty day moving average price of $19.20 and a 200 day moving average price of $19.31. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. Albertsons Companies’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. Equities research analysts forecast that Albertsons Companies, Inc. will post 2.13 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid a $0.12 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.42%. Albertsons Companies’s dividend payout ratio (DPR) is presently 28.07%.

Analysts Set New Price Targets

A number of analysts recently commented on ACI shares. Bank of America assumed coverage on shares of Albertsons Companies in a report on Friday, December 13th. They set a “neutral” rating and a $22.00 price objective on the stock. Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, October 21st. Melius Research raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday, October 21st. Finally, Morgan Stanley lowered their target price on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Albertsons Companies has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Albertsons Companies Company 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.