PNC Financial Services Group Inc. Purchases 3,074 Shares of Albertsons Companies, Inc. $ACI

PNC Financial Services Group Inc. raised its position in Albertsons Companies, Inc. (NYSE:ACI) by 92.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,385 shares of the company’s stock after acquiring an additional 3,074 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Albertsons Companies were worth $140,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Albertsons Companies in the first quarter valued at about $1,420,000. Bessemer Group Inc. bought a new position in shares of Albertsons Companies in the first quarter worth about $40,000. III Capital Management bought a new position in shares of Albertsons Companies in the fourth quarter worth about $5,892,000. Bayesian Capital Management LP bought a new position in shares of Albertsons Companies in the fourth quarter worth about $232,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Albertsons Companies in the first quarter worth about $323,000. Institutional investors own 71.35% of the company’s stock.

Albertsons Companies Stock Up 0.3%

NYSE ACI opened at $19.24 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.82 and a debt-to-equity ratio of 2.17. The company has a fifty day moving average of $20.74 and a two-hundred day moving average of $21.20. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.96 and a beta of 0.46. Albertsons Companies, Inc. has a 52 week low of $17.00 and a 52 week high of $23.20.

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

Albertsons Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, July 25th. Albertsons Companies’s dividend payout ratio is 36.59%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACI. Wall Street Zen raised Albertsons Companies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Tigress Financial reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Albertsons Companies in a research note on Tuesday, July 8th. Roth Capital reaffirmed a “buy” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Albertsons Companies in a research note on Wednesday, July 16th. BMO Capital Markets raised Albertsons Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $19.00 to $25.00 in a research note on Wednesday, May 7th. Finally, UBS Group raised Albertsons Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $22.00 to $27.00 in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.06.

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.