Albertsons Companies’ (ACI) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Albertsons Companies (NYSE:ACI) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $22.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. Tigress Financial reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Albertsons Companies in a research report on Monday, October 21st. Bank of America assumed coverage on shares of Albertsons Companies in a research note on Friday, December 13th. They issued a “neutral” rating and a $22.00 target price for the company. Morgan Stanley decreased their price objective on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. UBS Group dropped their target price on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Finally, Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Albertsons Companies has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Albertsons Companies Stock Up 0.4 %

NYSE:ACI opened at $19.80 on Tuesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $23.47. The company has a 50-day moving average of $19.33 and a 200 day moving average of $19.31. The firm has a market cap of $11.47 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. The firm had revenue of $18.77 billion during the quarter, compared to analysts’ expectations of $18.82 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, research analysts anticipate that Albertsons Companies will post 2.13 EPS for the current fiscal year.

Albertsons Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be given a $0.15 dividend. The ex-dividend date is Friday, January 24th. This represents a $0.60 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio is currently 28.07%.

Hedge Funds Weigh In On Albertsons Companies

A number of institutional investors have recently bought and sold shares of ACI. FMR LLC boosted its holdings in shares of Albertsons Companies by 88.1% in the 3rd quarter. FMR LLC now owns 16,841,582 shares of the company’s stock valued at $311,232,000 after acquiring an additional 7,887,688 shares during the last quarter. Parsifal Capital Management LP boosted its holdings in Albertsons Companies by 22.8% in the third quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock valued at $157,946,000 after purchasing an additional 1,585,899 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Albertsons Companies by 25.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock worth $114,033,000 after purchasing an additional 1,239,978 shares during the period. Anson Funds Management LP raised its stake in shares of Albertsons Companies by 973.0% during the 3rd quarter. Anson Funds Management LP now owns 1,190,165 shares of the company’s stock valued at $21,994,000 after buying an additional 1,079,246 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Albertsons Companies by 25.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,624,692 shares of the company’s stock valued at $91,337,000 after buying an additional 924,519 shares during the period. 71.35% of the stock is owned by hedge funds and other institutional investors.

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.