Sound Shore Management Inc CT Makes New $65.53 Million Investment in Albertsons Companies, Inc. $ACI

Sound Shore Management Inc CT purchased a new position in Albertsons Companies, Inc. (NYSE:ACI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,046,497 shares of the company’s stock, valued at approximately $65,530,000.

A number of other institutional investors have also added to or reduced their stakes in ACI. Tredje AP fonden raised its holdings in Albertsons Companies by 71.7% during the second quarter. Tredje AP fonden now owns 46,647 shares of the company’s stock worth $1,003,000 after buying an additional 19,477 shares during the last quarter. Atlas Capital Advisors Inc. boosted its holdings in Albertsons Companies by 241.6% during the 1st quarter. Atlas Capital Advisors Inc. now owns 23,154 shares of the company’s stock worth $509,000 after acquiring an additional 16,375 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Albertsons Companies during the 1st quarter worth $1,329,000. Zurich Insurance Group Ltd FI purchased a new position in Albertsons Companies during the 1st quarter worth $1,733,000. Finally, Principal Financial Group Inc. boosted its holdings in Albertsons Companies by 4,247.6% during the 1st quarter. Principal Financial Group Inc. now owns 933,693 shares of the company’s stock worth $20,532,000 after acquiring an additional 912,217 shares during the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

Albertsons Companies Stock Up 1.0%

Shares of NYSE:ACI opened at $17.49 on Thursday. Albertsons Companies, Inc. has a 1-year low of $16.70 and a 1-year high of $23.20. 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 firm has a fifty day moving average price of $18.31 and a 200 day moving average price of $20.14. The stock has a market cap of $9.61 billion, a P/E ratio of 10.35, a P/E/G ratio of 2.82 and a beta of 0.52.

Albertsons Companies Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ACI shares. Zacks Research raised Albertsons Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, August 25th. Bank of America dropped their price target on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Royal Bank Of Canada dropped their price target on Albertsons Companies from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Albertsons Companies in a research report on Thursday, October 30th. Finally, UBS Group reduced their price target on Albertsons Companies from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Albertsons Companies has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Insiders Place Their Bets

In other Albertsons Companies news, insider Anuj Dhanda sold 230,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider owned 300,577 shares of the company’s stock, valued at approximately $5,786,107.25. This trade represents a 43.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael T. Theilmann sold 100,000 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $19.35, for a total value 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 $6,548,601.15. This trade represents a 22.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.35% of the stock is currently owned by company insiders.

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.