Synovus Financial Corp Acquires 1,197 Shares of Albertsons Companies, Inc. (NYSE:ACI)

Synovus Financial Corp boosted its stake in shares of Albertsons Companies, Inc. (NYSE:ACI) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,192 shares of the company’s stock after buying an additional 1,197 shares during the period. Synovus Financial Corp’s holdings in Albertsons Companies were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ACI. Te Ahumairangi Investment Management Ltd lifted its stake in shares of Albertsons Companies by 8.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company’s stock worth $5,929,000 after purchasing an additional 25,868 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Albertsons Companies by 12.1% during the third quarter. Rehmann Capital Advisory Group now owns 23,612 shares of the company’s stock valued at $441,000 after buying an additional 2,549 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Albertsons Companies by 42.8% during the third quarter. Toronto Dominion Bank now owns 47,561 shares of the company’s stock valued at $879,000 after buying an additional 14,266 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Albertsons Companies by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,063,266 shares of the company’s stock valued at $167,229,000 after buying an additional 592,711 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Albertsons Companies by 88.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 206,691 shares of the company’s stock worth $3,820,000 after buying an additional 97,244 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.

Albertsons Companies Price Performance

Shares of NYSE:ACI opened at $18.95 on Thursday. 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, Inc. has a twelve month low of $17.00 and a twelve month high of $23.47. The company’s 50 day moving average is $18.93 and its 200 day moving average is $19.36. The company has a market cap of $10.98 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm 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 firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. On average, sell-side analysts forecast that Albertsons Companies, Inc. will post 2.13 EPS for the current year.

Albertsons Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were issued a $0.12 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.53%. Albertsons Companies’s dividend payout ratio (DPR) is presently 28.07%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group lowered their target price on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday. BMO Capital Markets lowered their price objective on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. Tigress Financial reaffirmed a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a research report on Monday, October 21st. Royal Bank of Canada increased their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

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.