Albertsons Companies (NYSE:ACI) Price Target Lowered to $22.00 at Royal Bank of Canada

Albertsons Companies (NYSE:ACI) had its price target reduced by Royal Bank of Canada from $23.00 to $22.00 in a report issued on Tuesday morning, Marketbeat.com reports. Royal Bank of Canada currently has an outperform rating on the stock.

ACI has been the topic of a number of other reports. Tigress Financial reiterated a buy rating and issued a $27.00 price objective on shares of Albertsons Companies in a research note on Friday, January 12th. Roth Mkm lifted their price target on Albertsons Companies from $23.00 to $24.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Telsey Advisory Group reissued a market perform rating and issued a $27.25 price objective on shares of Albertsons Companies in a research report on Wednesday, April 17th. Finally, Evercore ISI dropped their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $24.45.

Albertsons Companies Price Performance

NYSE ACI opened at $20.32 on Tuesday. Albertsons Companies has a 1 year low of $19.88 and a 1 year high of $23.88. The company has a fifty day simple moving average of $20.88 and a 200 day simple moving average of $21.62. The company has a current ratio of 0.85, a quick ratio of 0.19 and a debt-to-equity ratio of 3.09. The company has a market cap of $11.71 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.96 and a beta of 0.50.

Albertsons Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.12 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.36%. Albertsons Companies’s dividend payout ratio is currently 20.51%.

Institutional Trading of Albertsons Companies

Institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Investment Partners LLC acquired a new stake in Albertsons Companies during the fourth quarter worth $1,023,000. SG Americas Securities LLC raised its position in Albertsons Companies by 1,569.5% in the fourth quarter. SG Americas Securities LLC now owns 267,443 shares of the company’s stock worth $6,151,000 after purchasing an additional 251,424 shares in the last quarter. Schechter Investment Advisors LLC lifted its stake in Albertsons Companies by 7.1% during the fourth quarter. Schechter Investment Advisors LLC now owns 776,966 shares of the company’s stock worth $17,870,000 after purchasing an additional 51,590 shares during the period. Alpine Associates Management Inc. boosted its holdings in Albertsons Companies by 11.9% during the third quarter. Alpine Associates Management Inc. now owns 4,267,518 shares of the company’s stock valued at $97,086,000 after purchasing an additional 454,400 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its stake in shares of Albertsons Companies by 466.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 96,926 shares of the company’s stock valued at $2,205,000 after purchasing an additional 79,808 shares during the period. 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.