Albertsons Companies (NYSE:ACI) Price Target Lowered to $19.00 at BMO Capital Markets

Albertsons Companies (NYSE:ACI) had its price target reduced by BMO Capital Markets from $21.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Melius Research started coverage on shares of Albertsons Companies in a research note on Monday, September 23rd. They issued a “hold” rating and a $19.00 target price for the company. Telsey Advisory Group reissued a “market perform” rating and issued a $27.25 price target on shares of Albertsons Companies in a report on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Albertsons Companies has an average rating of “Hold” and a consensus price target of $22.91.

Albertsons Companies Stock Up 3.1 %

ACI stock opened at $19.00 on Wednesday. The firm has a 50 day moving average of $19.13 and a 200 day moving average of $19.82. The stock has a market capitalization of $11.00 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 1.02 and a beta of 0.48. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 2.67. Albertsons Companies has a 52 week low of $17.80 and a 52 week high of $23.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Albertsons Companies had a net margin of 1.41% and a return on equity of 56.01%. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Sell-side analysts forecast that Albertsons Companies will post 2.25 earnings per share for the current year.

Albertsons Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, October 28th. Albertsons Companies’s payout ratio is 21.52%.

Institutional Investors Weigh In On Albertsons Companies

Large investors have recently modified their holdings of the business. Lubert Adler Management Company LP grew its holdings in shares of Albertsons Companies by 47.1% during the second quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock worth $52,629,000 after buying an additional 852,857 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Albertsons Companies by 109.7% during the 1st quarter. Tidal Investments LLC now owns 57,054 shares of the company’s stock valued at $1,223,000 after acquiring an additional 29,849 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Albertsons Companies by 40.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 189,083 shares of the company’s stock valued at $4,054,000 after acquiring an additional 54,130 shares during the last quarter. Swedbank AB boosted its position in shares of Albertsons Companies by 166.2% during the 2nd quarter. Swedbank AB now owns 214,192 shares of the company’s stock valued at $4,230,000 after acquiring an additional 133,715 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Albertsons Companies by 2.2% during the 1st quarter. 1832 Asset Management L.P. now owns 50,991 shares of the company’s stock valued at $1,093,000 after acquiring an additional 1,121 shares during the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

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.