Cornerstone Investment Partners LLC Invests $1.02 Million in Albertsons Companies, Inc. (NYSE:ACI)

Cornerstone Investment Partners LLC purchased a new position in Albertsons Companies, Inc. (NYSE:ACI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 44,497 shares of the company’s stock, valued at approximately $1,023,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Albertsons Companies by 195.6% during the first quarter. JPMorgan Chase & Co. now owns 244,265 shares of the company’s stock valued at $8,122,000 after purchasing an additional 161,634 shares during the period. Raymond James & Associates lifted its position in shares of Albertsons Companies by 4.4% during the first quarter. Raymond James & Associates now owns 33,937 shares of the company’s stock valued at $1,128,000 after buying an additional 1,435 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Albertsons Companies by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 1,023,813 shares of the company’s stock valued at $34,043,000 after acquiring an additional 63,822 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Albertsons Companies by 18.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,808 shares of the company’s stock worth $293,000 after buying an additional 1,360 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Albertsons Companies during the first quarter valued at about $207,000. Institutional investors own 71.35% of the company’s stock.

Analyst Ratings Changes

ACI has been the subject of a number of recent research reports. Tigress Financial reiterated a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Friday, January 12th. Roth Mkm lifted their price objective on Albertsons Companies from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Evercore ISI decreased their price target on shares of Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Albertsons Companies in a report on Tuesday, February 13th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.85.

Albertsons Companies Stock Performance

NYSE:ACI traded down $0.08 during midday trading on Friday, reaching $20.38. The stock had a trading volume of 825,788 shares, compared to its average volume of 3,428,872. The firm has a fifty day simple moving average of $20.93 and a two-hundred day simple moving average of $21.69. Albertsons Companies, Inc. has a 12-month low of $19.88 and a 12-month high of $23.88. The company has a quick ratio of 0.19, a current ratio of 0.85 and a debt-to-equity ratio of 3.09. The stock has a market cap of $11.74 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.96 and a beta of 0.50.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $0.12 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.48 dividend on an annualized basis and a yield of 2.36%. Albertsons Companies’s dividend payout ratio (DPR) is 20.51%.

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.