Albertsons Companies (NYSE:ACI) Upgraded at Melius

Melius upgraded shares of Albertsons Companies (NYSE:ACI) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat reports. Melius currently has $24.00 target price on the stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price target 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. Melius Research assumed coverage on Albertsons Companies in a research note on Monday, September 23rd. They issued a “hold” rating and a $19.00 price objective on the stock. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research note on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.58.

Albertsons Companies Price Performance

Shares of NYSE:ACI opened at $18.94 on Monday. Albertsons Companies has a fifty-two week low of $17.80 and a fifty-two week high of $23.47. The business has a 50-day moving average of $19.07 and a two-hundred day moving average of $19.77. The stock has a market capitalization of $10.97 billion, a P/E ratio of 8.49, a P/E/G ratio of 1.02 and a beta of 0.48. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.88 and a quick ratio of 0.21.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 56.01% and a net margin of 1.41%. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts predict that Albertsons Companies will post 2.25 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

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

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACI. PNC Financial Services Group Inc. increased its stake in Albertsons Companies by 41.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,616 shares of the company’s stock valued at $175,000 after acquiring an additional 2,250 shares during the period. Eagle Rock Investment Company LLC increased its stake in Albertsons Companies by 31.8% during the first quarter. Eagle Rock Investment Company LLC now owns 58,148 shares of the company’s stock valued at $1,247,000 after acquiring an additional 14,013 shares during the period. TrueMark Investments LLC acquired a new stake in Albertsons Companies during the first quarter valued at approximately $1,147,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Albertsons Companies by 5.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock valued at $928,000 after purchasing an additional 2,144 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Albertsons Companies by 0.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 691,123 shares of the company’s stock valued at $14,818,000 after purchasing an additional 1,936 shares in the last quarter. 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.