Franklin Resources Inc. Sells 105,606 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Franklin Resources Inc. cut its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,766 shares of the company’s stock after selling 105,606 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of Albertsons Companies worth $7,081,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Signaturefd LLC raised its position in shares of Albertsons Companies by 108.4% during the second quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock worth $47,000 after purchasing an additional 1,230 shares during the period. Intact Investment Management Inc. bought a new stake in Albertsons Companies during the 2nd quarter valued at $126,000. Acadian Asset Management LLC acquired a new position in Albertsons Companies during the second quarter worth $150,000. Headlands Technologies LLC lifted its stake in shares of Albertsons Companies by 2,243.9% in the second quarter. Headlands Technologies LLC now owns 8,977 shares of the company’s stock valued at $177,000 after buying an additional 8,594 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Albertsons Companies during the third quarter valued at about $185,000. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Albertsons Companies Stock Performance

NYSE:ACI opened at $19.52 on Monday. The business’s fifty day moving average is $18.98 and its 200 day moving average is $19.34. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.07 and a beta of 0.51. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.22 and a current ratio of 0.90. Albertsons Companies, Inc. has a 52-week low of $17.00 and a 52-week high of $23.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $18.55 billion for 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%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Research analysts predict that Albertsons Companies, Inc. will post 2.13 EPS for the current year.

Albertsons Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.46%. Albertsons Companies’s dividend payout ratio (DPR) is currently 28.07%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ACI. Evercore ISI increased their price objective on Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada increased their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Tigress Financial reiterated a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, October 21st. Finally, UBS Group reduced their price objective on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Albertsons Companies currently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

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.