Royal Bank of Canada Cuts Albertsons Companies (NYSE:ACI) Price Target to $21.00

Albertsons Companies (NYSE:ACI) had its price target decreased by Royal Bank of Canada from $22.00 to $21.00 in a research report sent to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts have also commented on the company. Evercore ISI lifted their price objective on Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Tigress Financial reissued a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a research note on Monday, October 21st. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Melius raised 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. Finally, BMO Capital Markets decreased their price objective 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. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Albertsons Companies presently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Albertsons Companies Trading Up 1.9 %

ACI opened at $19.49 on Wednesday. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $23.47. The stock has a market capitalization of $11.29 billion, a PE ratio of 11.40, a PEG ratio of 1.07 and a beta of 0.51. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. The firm has a 50-day moving average price of $18.87 and a two-hundred day moving average price of $19.39.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share 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%. Albertsons Companies’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Albertsons Companies will post 2.13 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.48 annualized dividend and a yield of 2.46%. Albertsons Companies’s dividend payout ratio (DPR) is currently 28.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. DGS Capital Management LLC acquired a new stake in Albertsons Companies in the 3rd quarter valued at $199,000. Synovus Financial Corp grew its stake in Albertsons Companies by 10.0% in the third quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock valued at $244,000 after purchasing an additional 1,197 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its position 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 raised its stake in shares of Albertsons Companies by 12.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,612 shares of the company’s stock worth $441,000 after purchasing an additional 2,549 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Albertsons Companies by 42.8% in the 3rd 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. 71.35% of the stock is owned by institutional investors and hedge funds.

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.