M&T Bank Corp Sells 577 Shares of Albertsons Companies, Inc. (NYSE:ACI)

M&T Bank Corp decreased its holdings in shares of Albertsons Companies, Inc. (NYSE:ACI) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,836 shares of the company’s stock after selling 577 shares during the quarter. M&T Bank Corp’s holdings in Albertsons Companies were worth $260,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. WealthCollab LLC raised its holdings in shares of Albertsons Companies by 446.0% in the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock worth $35,000 after buying an additional 1,454 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock worth $35,000 after buying an additional 1,358 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of Albertsons Companies in the 1st quarter worth approximately $40,000. GAMMA Investing LLC raised its holdings in shares of Albertsons Companies by 340.1% in the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the company’s stock worth $42,000 after buying an additional 1,483 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Albertsons Companies by 54.8% in the 1st quarter. Fifth Third Bancorp now owns 2,997 shares of the company’s stock worth $66,000 after buying an additional 1,061 shares in the last quarter. Institutional investors own 71.35% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Omer Gajial sold 47,303 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.46, for a total value of $1,015,122.38. Following the completion of the sale, the executive vice president directly owned 162,569 shares in the company, valued at $3,488,730.74. This trade represents a 22.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.35% of the company’s stock.

Wall Street Analyst Weigh In

ACI has been the subject of a number of recent research reports. BMO Capital Markets raised Albertsons Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $19.00 to $25.00 in a report on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Albertsons Companies in a report on Wednesday, April 16th. Evercore ISI dropped their price target on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Roth Capital reaffirmed a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Albertsons Companies in a report on Wednesday. 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Albertsons Companies Price Performance

Shares of NYSE ACI opened at $20.47 on Friday. Albertsons Companies, Inc. has a twelve month low of $17.00 and a twelve month high of $23.20. The business’s 50 day moving average price is $21.67 and its two-hundred day moving average price is $21.22. The company has a quick ratio of 0.22, a current ratio of 0.82 and a debt-to-equity ratio of 2.17. The company has a market cap of $11.79 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 2.05 and a beta of 0.44.

Albertsons Companies (NYSE:ACI) last released its earnings results on Tuesday, July 15th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. Albertsons Companies had a return on equity of 37.92% and a net margin of 1.18%. The firm had revenue of $24.88 billion during the quarter, compared to analysts’ expectations of $24.68 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Albertsons Companies, Inc. will post 2.14 EPS for the current year.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 25th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, July 25th. Albertsons Companies’s dividend payout ratio is currently 36.59%.

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.