Albertsons Companies (NYSE:ACI) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Albertsons Companies (NYSE:ACI) in a research note released on Wednesday,Benzinga reports. They currently have a $24.00 price target on the stock.

ACI has been the topic of several other research reports. Roth Capital restated a “buy” rating and issued a $24.00 price target (up previously from $23.00) on shares of Albertsons Companies in a research report on Wednesday, July 16th. Wells Fargo & Company dropped their price objective on shares of Albertsons Companies from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. UBS Group raised shares of Albertsons Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $22.00 to $27.00 in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Albertsons Companies from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Zacks Research raised shares of Albertsons Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, August 25th. Twelve research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Albertsons Companies Trading Down 0.2%

Shares of ACI opened at $19.23 on Wednesday. The company’s fifty day moving average is $18.57 and its 200 day moving average is $20.46. Albertsons Companies has a fifty-two week low of $16.70 and a fifty-two week high of $23.20. The stock has a market capitalization of $10.76 billion, a PE ratio of 11.38, a P/E/G ratio of 1.97 and a beta of 0.49. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.18 and a current ratio of 0.81.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. Albertsons Companies had a net margin of 1.20% and a return on equity of 36.39%. The company had revenue of $24.88 billion for the quarter, compared to analysts’ expectations of $24.68 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Albertsons Companies’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts expect that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 24th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, October 24th. Albertsons Companies’s payout ratio is currently 36.59%.

Institutional Trading of Albertsons Companies

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its stake in shares of Albertsons Companies by 130.4% during the third quarter. Harbor Capital Advisors Inc. now owns 1,461 shares of the company’s stock valued at $26,000 after purchasing an additional 827 shares during the period. West Oak Capital LLC purchased a new stake in shares of Albertsons Companies during the second quarter valued at $30,000. SVB Wealth LLC purchased a new stake in shares of Albertsons Companies during the first quarter valued at $32,000. Allworth Financial LP boosted its stake in shares of Albertsons Companies by 98.4% during the second quarter. Allworth Financial LP now owns 1,702 shares of the company’s stock valued at $37,000 after purchasing an additional 844 shares during the period. Finally, Bessemer Group Inc. purchased a new stake in shares of Albertsons Companies during the first quarter valued at $40,000. 71.35% of the stock is owned by hedge funds and other 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.