State of Michigan Retirement System Has $407,000 Stock Holdings in Albertsons Companies, Inc. (NYSE:ACI)

State of Michigan Retirement System boosted its holdings in shares of Albertsons Companies, Inc. (NYSE:ACI) by 46.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,700 shares of the company’s stock after buying an additional 6,600 shares during the quarter. State of Michigan Retirement System’s holdings in Albertsons Companies were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ACI. FMR LLC boosted its position in shares of Albertsons Companies by 88.1% during the third quarter. FMR LLC now owns 16,841,582 shares of the company’s stock worth $311,232,000 after purchasing an additional 7,887,688 shares in the last quarter. Parsifal Capital Management LP boosted its position in shares of Albertsons Companies by 22.8% during the third quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock worth $157,946,000 after purchasing an additional 1,585,899 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Albertsons Companies by 25.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock worth $114,033,000 after purchasing an additional 1,239,978 shares in the last quarter. Trium Capital LLP bought a new position in shares of Albertsons Companies during the fourth quarter worth $23,678,000. Finally, Anson Funds Management LP boosted its position in shares of Albertsons Companies by 973.0% during the third quarter. Anson Funds Management LP now owns 1,190,165 shares of the company’s stock worth $21,994,000 after purchasing an additional 1,079,246 shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.

Albertsons Companies Stock Up 2.3 %

Shares of ACI opened at $21.46 on Monday. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $21.67. The firm has a market cap of $12.43 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.50. The firm’s 50-day simple moving average is $20.31 and its 200 day simple moving average is $19.47. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The business had revenue of $18.77 billion for the quarter, compared to analyst estimates of $18.82 billion. During the same quarter in the prior year, the business earned $0.79 EPS. Albertsons Companies’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were paid a $0.15 dividend. The ex-dividend date was Friday, January 24th. This represents a $0.60 dividend on an annualized basis and a yield of 2.80%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio is 33.71%.

Analyst Ratings Changes

Several research firms recently commented on ACI. Citigroup began coverage on shares of Albertsons Companies in a research report on Friday, January 24th. They issued a “buy” rating and a $26.00 price objective on the stock. Bank of America began coverage on shares of Albertsons Companies in a research report on Friday, December 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research report on Tuesday, February 4th. UBS Group cut their price objective on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, Evercore ISI lifted their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.21.

Albertsons Companies 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.