Albertsons Companies (NYSE:ACI) Price Target Lowered to $19.00 at BMO Capital Markets

Albertsons Companies (NYSE:ACI) had its price objective decreased by BMO Capital Markets from $21.00 to $19.00 in a report published on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other brokerages have also weighed in on ACI. Telsey Advisory Group reiterated a “market perform” rating and set a $27.25 target price on shares of Albertsons Companies in a research note on Friday, October 11th. Melius Research began coverage on Albertsons Companies in a research report on Monday, September 23rd. They set a “hold” rating and a $19.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Albertsons Companies Price Performance

NYSE:ACI opened at $18.29 on Wednesday. The company has a market cap of $10.59 billion, a P/E ratio of 8.20, a P/E/G ratio of 1.02 and a beta of 0.48. The firm’s fifty day moving average price is $19.16 and its two-hundred day moving average price is $19.86. Albertsons Companies has a one year low of $17.80 and a one year high of $23.47. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.88 and a quick ratio of 0.21.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a net margin of 1.41% and a return on equity of 56.01%. Albertsons Companies’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. Equities analysts expect that Albertsons Companies will post 2.25 earnings per share for the current year.

Albertsons Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.62%. Albertsons Companies’s dividend payout ratio (DPR) is presently 21.52%.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Albertsons Companies by 41.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,616 shares of the company’s stock worth $175,000 after acquiring an additional 2,250 shares during the period. Alaska Permanent Fund Corp lifted its stake in Albertsons Companies by 4.6% during the first quarter. Alaska Permanent Fund Corp now owns 117,787 shares of the company’s stock worth $2,525,000 after purchasing an additional 5,139 shares during the last quarter. Eagle Rock Investment Company LLC boosted its holdings in shares of Albertsons Companies by 31.8% in the 1st quarter. Eagle Rock Investment Company LLC now owns 58,148 shares of the company’s stock valued at $1,247,000 after purchasing an additional 14,013 shares in the last quarter. TrueMark Investments LLC bought a new position in shares of Albertsons Companies in the 1st quarter valued at $1,147,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Albertsons Companies by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock worth $928,000 after buying an additional 2,144 shares in the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

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.