Franklin Resources Inc. Has $6.89 Million Stock Position in Albertsons Companies, Inc. (NYSE:ACI)

Posted by Defense World Staff on Jun 2nd, 2023

Franklin Resources Inc. grew its stake in shares of Albertsons Companies, Inc. (NYSE:ACI – Get Rating) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 332,095 shares of the company’s stock after purchasing an additional 72,381 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Albertsons Companies worth $6,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. HRT Financial LP acquired a new position in shares of Albertsons Companies during the fourth quarter valued at about $6,548,000. Advisor Group Holdings Inc. raised its holdings in shares of Albertsons Companies by 14.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 41,569 shares of the company’s stock valued at $862,000 after purchasing an additional 5,245 shares during the period. Aigen Investment Management LP acquired a new position in shares of Albertsons Companies during the fourth quarter valued at about $1,139,000. Yakira Capital Management Inc. acquired a new position in shares of Albertsons Companies during the fourth quarter valued at about $2,688,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Albertsons Companies by 7.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 110,906 shares of the company’s stock valued at $2,300,000 after purchasing an additional 7,591 shares during the period. Institutional investors and hedge funds own 65.58% of the company’s stock.

Insider Activity at Albertsons Companies

In related news, CAO Robert Bruce Larson sold 32,544 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $20.95, for a total transaction of $681,796.80. Following the sale, the chief accounting officer now directly owns 50,241 shares in the company, valued at approximately $1,052,548.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Albertsons Companies Trading Down 0.8 %

Shares of ACI stock opened at $20.19 on Friday. Albertsons Companies, Inc. has a 52-week low of $19.14 and a 52-week high of $31.29. The company has a debt-to-equity ratio of 4.86, a quick ratio of 0.18 and a current ratio of 0.74. The company has a 50-day simple moving average of $20.57 and a two-hundred day simple moving average of $20.70. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 1.50 and a beta of 0.57.

Albertsons Companies (NYSE:ACI – Get Rating) last issued its quarterly earnings data on Tuesday, April 11th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $18.16 billion. Albertsons Companies had a net margin of 1.95% and a return on equity of 68.28%. Research analysts anticipate that Albertsons Companies, Inc. will post 2.72 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Tuesday, April 25th. Albertsons Companies’s payout ratio is currently 22.12%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Roth Capital reissued a “neutral” rating on shares of Albertsons Companies in a research report on Monday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Albertsons Companies in a research report on Thursday, April 13th. Telsey Advisory Group reissued a “market perform” rating and set a $27.25 target price on shares of Albertsons Companies in a research report on Wednesday, April 12th. Finally, Tigress Financial raised shares of Albertsons Companies from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $32.00 to $27.00 in a research report on Tuesday, April 25th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.93.

About Albertsons Companies

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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.