Albertsons Companies, Inc. (NYSE:ACI) Sees Significant Growth in Short Interest

Albertsons Companies, Inc. (NYSE:ACI) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 11,500,000 shares, a growth of 6.5% from the October 31st total of 10,800,000 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 3,350,000 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in shares of Albertsons Companies by 108.4% during the second quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock worth $47,000 after purchasing an additional 1,230 shares during the period. Blue Trust Inc. grew its stake in shares of Albertsons Companies by 2,948.4% during the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock worth $62,000 after acquiring an additional 2,801 shares during the period. Intact Investment Management Inc. purchased a new position in Albertsons Companies in the 2nd quarter valued at approximately $126,000. Acadian Asset Management LLC bought a new position in shares of Albertsons Companies in the second quarter valued at approximately $150,000. Finally, Headlands Technologies LLC raised its holdings in shares of Albertsons Companies by 2,243.9% in the 2nd quarter. Headlands Technologies LLC now owns 8,977 shares of the company’s stock valued at $177,000 after acquiring an additional 8,594 shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.

Albertsons Companies Stock Performance

Shares of NYSE:ACI traded down $0.20 during trading on Tuesday, reaching $19.25. 982,309 shares of the stock were exchanged, compared to its average volume of 3,011,832. The firm has a market cap of $11.15 billion, a PE ratio of 11.33, a PEG ratio of 1.16 and a beta of 0.51. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. Albertsons Companies has a 12 month low of $17.80 and a 12 month high of $23.47. The stock has a 50-day moving average price of $18.78 and a 200-day moving average price of $19.47.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. Research analysts expect that Albertsons Companies will post 2.13 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Monday, October 28th. Albertsons Companies’s dividend payout ratio is currently 28.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Evercore ISI raised their price objective on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday. Telsey Advisory Group reissued a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a research report on Friday, October 11th. BMO Capital Markets cut their price target on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 16th. Finally, Melius raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Albertsons Companies currently has an average rating of “Moderate Buy” and an average target price of $23.25.

Albertsons Companies Company Profile

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.