Bank of America started coverage on shares of Albertsons Companies (NYSE:ACI - Free Report) in a report published on Friday. The firm issued a neutral rating and a $22.00 price objective on the stock.
ACI has been the topic of a number of other reports. Royal Bank of Canada decreased their price objective on shares of Albertsons Companies from $22.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday. Tigress Financial reissued a "buy" rating and set a $27.00 price target on shares of Albertsons Companies in a report on Monday, October 21st. Morgan Stanley reduced their price objective on Albertsons Companies from $24.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday. BMO Capital Markets lowered their target price on Albertsons Companies from $21.00 to $19.00 and set a "market perform" rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company restated a "market perform" rating on shares of Albertsons Companies in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.09.
Get Our Latest Analysis on Albertsons Companies
Albertsons Companies Stock Performance
Shares of ACI traded up $0.38 during mid-day trading on Friday, hitting $19.50. 10,440,304 shares of the company's stock were exchanged, compared to its average volume of 3,244,013. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. The stock's 50-day simple moving average is $18.87 and its 200-day simple moving average is $19.39. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.47.
Albertsons Companies (NYSE:ACI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The company's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. On average, equities research analysts expect that Albertsons Companies will post 2.13 EPS for the current year.
Albertsons Companies Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Monday, October 28th. Albertsons Companies's dividend payout ratio (DPR) is currently 28.07%.
Hedge Funds Weigh In On Albertsons Companies
Several large investors have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in Albertsons Companies by 108.4% in the second quarter. Signaturefd LLC now owns 2,365 shares of the company's stock valued at $47,000 after acquiring an additional 1,230 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Albertsons Companies by 2,948.4% in the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company's stock valued at $62,000 after purchasing an additional 2,801 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Albertsons Companies during the second quarter worth $126,000. Acadian Asset Management LLC bought a new position in Albertsons Companies during the second quarter worth $150,000. Finally, Headlands Technologies LLC raised its stake in Albertsons Companies by 2,243.9% during the second quarter. Headlands Technologies LLC now owns 8,977 shares of the company's stock worth $177,000 after buying an additional 8,594 shares during the last quarter. Institutional investors own 71.35% of the company's stock.
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.
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