Mackenzie Financial Corp Raises Stock Holdings in Albertsons Companies, Inc. $ACI

Mackenzie Financial Corp lifted its position in Albertsons Companies, Inc. (NYSE:ACI) by 124.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 185,548 shares of the company’s stock after purchasing an additional 102,724 shares during the quarter. Mackenzie Financial Corp’s holdings in Albertsons Companies were worth $3,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. West Oak Capital LLC acquired a new position in Albertsons Companies in the 2nd quarter worth approximately $30,000. SVB Wealth LLC acquired a new stake in shares of Albertsons Companies in the first quarter worth $32,000. Allworth Financial LP increased its stake in shares of Albertsons Companies by 98.4% in the second quarter. Allworth Financial LP now owns 1,702 shares of the company’s stock worth $37,000 after acquiring an additional 844 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Albertsons Companies during the second quarter worth $43,000. Finally, Plato Investment Management Ltd acquired a new position in Albertsons Companies during the first quarter valued at $53,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Albertsons Companies Stock Down 1.6%

Albertsons Companies stock opened at $17.65 on Friday. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.81 and a quick ratio of 0.20. The stock has a market capitalization of $9.69 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.92 and a beta of 0.49. The business has a 50 day simple moving average of $18.01 and a 200-day simple moving average of $19.54. Albertsons Companies, Inc. has a 12 month low of $16.70 and a 12 month high of $23.20.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, October 14th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $18.92 billion for the quarter, compared to analysts’ expectations of $18.89 billion. Albertsons Companies had a net margin of 1.20% and a return on equity of 36.39%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. Albertsons Companies has set its FY 2025 guidance at 2.060-2.190 EPS. On average, analysts anticipate that Albertsons Companies, Inc. will post 2.14 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 24th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was 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 currently 35.50%.

Insider Activity

In other Albertsons Companies news, EVP Michael T. Theilmann sold 100,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 338,429 shares in the company, valued at approximately $6,548,601.15. The trade was a 22.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anuj Dhanda sold 230,000 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were 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 $5,786,107.25. The trade was a 43.35% decrease in their position. The SEC filing for this sale provides additional information. 1.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group cut their price target on Albertsons Companies from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Wells Fargo & Company dropped their target price on Albertsons Companies from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Royal Bank Of Canada reduced their price target 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. Wall Street Zen lowered Albertsons Companies from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Albertsons Companies in a research note on Wednesday, October 15th. Ten investment 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. Based on data from MarketBeat.com, Albertsons Companies has an average rating of “Moderate Buy” and a consensus target price of $23.43.

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.