Perigon Wealth Management LLC Boosts Holdings in Albertsons Companies, Inc. (NYSE:ACI)

Perigon Wealth Management LLC grew its position in shares of Albertsons Companies, Inc. (NYSE:ACI) by 44.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,014 shares of the company’s stock after buying an additional 7,093 shares during the quarter. Perigon Wealth Management LLC’s holdings in Albertsons Companies were worth $465,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Impact Partnership Wealth LLC acquired a new stake in Albertsons Companies in the fourth quarter valued at about $453,000. Sound Income Strategies LLC acquired a new position in Albertsons Companies during the fourth quarter worth $254,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Albertsons Companies in the fourth quarter valued at $1,115,000. Janney Montgomery Scott LLC boosted its position in shares of Albertsons Companies by 68.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 83,895 shares of the company’s stock worth $1,648,000 after purchasing an additional 34,023 shares in the last quarter. Finally, Trium Capital LLP acquired a new position in shares of Albertsons Companies during the 4th quarter worth $23,678,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ACI shares. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price target on shares of Albertsons Companies in a research report on Tuesday, January 7th. Tigress Financial reissued a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a report on Monday, October 21st. Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, October 21st. Telsey Advisory Group reissued an “outperform” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research note on Thursday, January 9th. Finally, Citigroup assumed coverage on shares of Albertsons Companies in a report on Friday, January 24th. They issued a “buy” rating and a $26.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Albertsons Companies Stock Performance

Albertsons Companies stock opened at $20.07 on Friday. The stock has a fifty day moving average price of $19.63 and a 200 day moving average price of $19.35. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $21.75. The firm has a market capitalization of $11.63 billion, a P/E ratio of 11.28, a PEG ratio of 1.87 and a beta of 0.51. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $0.79 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities research analysts anticipate that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from Albertsons Companies’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, January 24th. Albertsons Companies’s dividend payout ratio is presently 33.71%.

About Albertsons Companies

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.