JPMorgan Chase & Co. Cuts Albertsons Companies (NYSE:ACI) Price Target to $24.00

Albertsons Companies (NYSE:ACI) had its price target trimmed by JPMorgan Chase & Co. from $27.00 to $24.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on ACI. Tigress Financial reaffirmed a “buy” rating and set a $28.00 price target on shares of Albertsons Companies in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Albertsons Companies in a research report on Wednesday. Royal Bank Of Canada reduced their price target on shares of Albertsons Companies from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Wells Fargo & Company reduced their price target on shares of Albertsons Companies from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays assumed coverage on shares of Albertsons Companies in a research report on Monday, July 21st. They set an “underweight” rating and a $19.00 price target on the stock. Twelve research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Albertsons Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.63.

Albertsons Companies Stock Performance

NYSE:ACI opened at $17.15 on Wednesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.82 and a quick ratio of 0.18. Albertsons Companies has a 1-year low of $16.70 and a 1-year high of $23.20. The firm has a 50-day moving average of $18.62 and a two-hundred day moving average of $20.52. The stock has a market cap of $9.60 billion, a P/E ratio of 10.46, a PEG ratio of 1.77 and a beta of 0.49.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. The business had revenue of $24.88 billion for the quarter, compared to analysts’ expectations of $24.68 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Albertsons Companies has set its FY 2025 guidance at 2.030-2.160 EPS. On average, research analysts expect that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were paid a $0.15 dividend. The ex-dividend date was Friday, July 25th. This represents a $0.60 annualized dividend and a dividend yield of 3.5%. Albertsons Companies’s dividend payout ratio (DPR) is presently 36.59%.

Institutional Investors Weigh In On Albertsons Companies

Several large investors have recently made changes to their positions in ACI. GAMMA Investing LLC increased its stake in shares of Albertsons Companies by 9,578.7% in the first quarter. GAMMA Investing LLC now owns 42,199 shares of the company’s stock valued at $928,000 after purchasing an additional 41,763 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Albertsons Companies in the first quarter valued at approximately $456,000. Pallas Capital Advisors LLC bought a new position in shares of Albertsons Companies in the first quarter valued at approximately $838,000. Yousif Capital Management LLC boosted its holdings in shares of Albertsons Companies by 868.2% in the first quarter. Yousif Capital Management LLC now owns 153,177 shares of the company’s stock valued at $3,368,000 after acquiring an additional 137,357 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Albertsons Companies in the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

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.