Sound Shore Management Inc. CT Sells 398,798 Shares of Albertsons Companies, Inc. $ACI

Sound Shore Management Inc. CT cut its holdings in shares of Albertsons Companies, Inc. (NYSE:ACI) by 8.8% during the 1st quarter, HoldingsChannel reports. The fund owned 4,134,360 shares of the company’s stock after selling 398,798 shares during the quarter. Albertsons Companies makes up 2.4% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 29th biggest position. Sound Shore Management Inc. CT’s holdings in Albertsons Companies were worth $70,449,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in shares of Albertsons Companies by 24.7% during the 1st quarter. Parallel Advisors LLC now owns 6,713 shares of the company’s stock valued at $114,000 after purchasing an additional 1,331 shares during the last quarter. KBC Group NV lifted its stake in Albertsons Companies by 214.3% in the first quarter. KBC Group NV now owns 174,687 shares of the company’s stock worth $2,977,000 after purchasing an additional 119,109 shares during the last quarter. Swiss National Bank lifted its stake in Albertsons Companies by 0.4% in the first quarter. Swiss National Bank now owns 720,300 shares of the company’s stock worth $12,274,000 after purchasing an additional 2,700 shares during the last quarter. Gallacher Capital Management LLC purchased a new stake in Albertsons Companies during the first quarter valued at about $630,000. Finally, Twin Capital Management Inc. boosted its position in Albertsons Companies by 1.7% during the first quarter. Twin Capital Management Inc. now owns 43,912 shares of the company’s stock valued at $748,000 after buying an additional 721 shares during the period. 71.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Albertsons Companies from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, June 30th. UBS Group dropped their target price on Albertsons Companies from $23.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price target on shares of Albertsons Companies in a research report on Monday, April 6th. Wells Fargo & Company decreased their price target on Albertsons Companies from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Citigroup lowered their price objective on Albertsons Companies from $22.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, June 29th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.25.

Albertsons Companies Price Performance

Shares of Albertsons Companies stock opened at $15.15 on Monday. The firm has a market cap of $7.42 billion, a PE ratio of 47.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.42. Albertsons Companies, Inc. has a 12-month low of $13.16 and a 12-month high of $20.91. The company has a quick ratio of 0.20, a current ratio of 0.86 and a debt-to-equity ratio of 4.58. The company’s fifty day simple moving average is $15.12 and its two-hundred day simple moving average is $16.49.

Albertsons Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, July 24th. Albertsons Companies’s dividend payout ratio is currently 212.50%.

About Albertsons Companies

Albertsons Companies, Inc (NYSE: ACI) is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company’s retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.

Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.