Brokerages Set Albertsons Companies, Inc. (NYSE:ACI) Target Price at $23.21

Albertsons Companies, Inc. (NYSE:ACI) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $23.50.

Several research firms recently issued reports on ACI. Evercore ISI raised their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Tuesday. Citigroup started coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They issued a “buy” rating and a $26.00 target price on the stock. Royal Bank of Canada boosted their price target on shares of Albertsons Companies from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley lowered their target price on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Bank of America started coverage on Albertsons Companies in a research report on Friday, December 13th. They issued a “neutral” rating and a $22.00 price target on the stock.

Albertsons Companies Trading Up 1.6 %

Shares of NYSE ACI opened at $21.18 on Friday. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $21.67. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. The company has a 50-day moving average of $20.40 and a two-hundred day moving average of $19.49. The company has a market cap of $12.27 billion, a PE ratio of 11.90, a P/E/G ratio of 1.92 and a beta of 0.50.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. The firm had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. As a group, equities analysts expect that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio (DPR) is currently 33.71%.

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently modified their holdings of ACI. Private Management Group Inc. lifted its stake 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 valued at $43,138,000 after buying an additional 43,532 shares in the last quarter. Swiss National Bank boosted its stake in Albertsons Companies by 9.2% in the 3rd quarter. Swiss National Bank now owns 1,117,200 shares of the company’s stock worth $20,646,000 after purchasing an additional 94,300 shares during the period. NINE MASTS CAPITAL Ltd acquired a new position in Albertsons Companies in the 4th quarter worth $746,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Albertsons Companies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,722 shares of the company’s stock worth $12,395,000 after purchasing an additional 36,154 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its stake in shares of Albertsons Companies by 68.4% in the 3rd quarter. K2 Principal Fund L.P. now owns 270,501 shares of the company’s stock valued at $4,999,000 after purchasing an additional 109,901 shares during the period. 71.35% of the stock is currently owned by institutional investors and hedge funds.

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.