Albertsons Companies (NYSE:ACI) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Albertsons Companies (NYSE:ACI - Free Report) in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a $23.00 price objective on the stock.

Several other research analysts have also issued reports on ACI. Telsey Advisory Group reissued an "outperform" rating and set a $26.00 target price on shares of Albertsons Companies in a research note on Tuesday, March 11th. Morgan Stanley cut their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $26.00 target price on shares of Albertsons Companies in a research report on Tuesday, February 4th. Bank of America began coverage on Albertsons Companies in a report on Friday, December 13th. They set a "neutral" rating and a $22.00 price objective for the company. Finally, Citigroup began coverage on Albertsons Companies in a research report on Friday, January 24th. They set a "buy" rating and a $26.00 target price on the stock. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $23.50.

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Albertsons Companies Trading Down 0.6 %

Albertsons Companies stock traded down $0.14 during mid-day trading on Thursday, hitting $21.20. 1,620,060 shares of the stock were exchanged, compared to its average volume of 4,115,003. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.92 and a beta of 0.47. Albertsons Companies has a 12 month low of $17.00 and a 12 month high of $23.20. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. The firm's fifty day simple moving average is $21.02 and its two-hundred day simple moving average is $19.80.

Albertsons Companies (NYSE:ACI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.07. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The company had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. During the same period in the previous year, the business earned $0.79 EPS. The firm's revenue was up 1.2% compared to the same quarter last year. Analysts forecast that Albertsons Companies will post 2.14 EPS for the current year.

Albertsons Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, January 24th. This is an increase from Albertsons Companies's previous quarterly dividend of $0.12. Albertsons Companies's dividend payout ratio is 33.71%.

Institutional Investors Weigh In On Albertsons Companies

A number of hedge funds have recently made changes to their positions in ACI. Private Management Group Inc. raised its position in Albertsons Companies by 2.0% in the fourth quarter. Private Management Group Inc. now owns 2,196,484 shares of the company's stock worth $43,138,000 after acquiring an additional 43,532 shares during the period. NINE MASTS CAPITAL Ltd purchased a new position in Albertsons Companies in the fourth quarter valued at approximately $746,000. K2 Principal Fund L.P. raised its stake in shares of Albertsons Companies by 68.4% in the third quarter. K2 Principal Fund L.P. now owns 270,501 shares of the company's stock valued at $4,999,000 after buying an additional 109,901 shares during the period. ORBA Wealth Advisors L.L.C. bought a new position in Albertsons Companies during the fourth quarter worth about $433,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Albertsons Companies during the 3rd quarter valued at approximately $1,906,000. 71.35% of the stock is currently owned by institutional investors.

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.