Albertsons Companies, Inc. (NYSE:ACI) Sees Large Decline in Short Interest

by · The Cerbat Gem

Albertsons Companies, Inc. (NYSE:ACI – Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 16,640,000 shares, a drop of 16.9% from the March 15th total of 20,030,000 shares. Based on an average daily trading volume, of 6,500,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 4.0% of the shares of the company are sold short.

Albertsons Companies Price Performance

ACI stock traded up $0.40 on Monday, reaching $22.11. 1,633,211 shares of the company’s stock were exchanged, compared to its average volume of 4,307,076. The stock has a fifty day moving average of $21.19 and a 200-day moving average of $19.99. The firm has a market cap of $12.81 billion, a PE ratio of 12.42, a P/E/G ratio of 1.92 and a beta of 0.47. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. Albertsons Companies has a twelve month low of $17.00 and a twelve month high of $23.20.

Albertsons Companies (NYSE:ACI – Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $18.80 billion during the quarter, compared to the consensus estimate of $18.78 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. During the same quarter last year, the firm posted $0.54 EPS. As a group, equities analysts predict that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, April 25th. Albertsons Companies’s dividend payout ratio is currently 36.59%.

Wall Street Analysts Forecast Growth

ACI has been the subject of several research analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $26.00 price objective on shares of Albertsons Companies in a report on Friday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Albertsons Companies in a research note on Wednesday, April 16th. Evercore ISI dropped their price objective on shares of Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Thursday. UBS Group lowered their price target on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $26.00 price objective on shares of Albertsons Companies in a research report on Tuesday, February 4th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.36.

Get Our Latest Report on Albertsons Companies

Hedge Funds Weigh In On Albertsons Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Bay Advisors LLC increased its position in shares of Albertsons Companies by 108.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after buying an additional 700 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Albertsons Companies by 1.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 47,232 shares of the company’s stock worth $941,000 after acquiring an additional 891 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Albertsons Companies by 225.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after purchasing an additional 959 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Albertsons Companies by 54.8% in the first quarter. Fifth Third Bancorp now owns 2,997 shares of the company’s stock valued at $66,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Twin Capital Management Inc. increased its stake in shares of Albertsons Companies by 2.9% during the 4th quarter. Twin Capital Management Inc. now owns 40,476 shares of the company’s stock worth $795,000 after purchasing an additional 1,146 shares in the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

Albertsons Companies Company Profile

(Get Free Report)

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.

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