Albertsons Companies (NYSE:ACI) Coverage Initiated at Citigroup

Citigroup initiated coverage on shares of Albertsons Companies (NYSE:ACI) in a research report released on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $26.00 target price on the stock.

A number of other research firms also recently issued reports on ACI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Albertsons Companies in a report on Tuesday, January 7th. Telsey Advisory Group restated an “outperform” rating and set a $26.00 price target on shares of Albertsons Companies in a report on Thursday, January 9th. BMO Capital Markets decreased their price objective on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, October 16th. Evercore ISI boosted their target price on Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Bank of America began coverage on Albertsons Companies in a research report on Friday, December 13th. They set a “neutral” rating and a $22.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Albertsons Companies has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Albertsons Companies Trading Up 0.4 %

ACI opened at $19.86 on Friday. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $21.92. The firm has a market capitalization of $11.50 billion, a PE ratio of 11.15, a P/E/G ratio of 1.83 and a beta of 0.51. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. The company’s 50-day moving average is $19.55 and its 200 day moving average is $19.33.

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

Albertsons Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.60 annualized dividend and a yield of 3.02%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s dividend payout ratio (DPR) is 26.97%.

Hedge Funds Weigh In On Albertsons Companies

Several large investors have recently modified their holdings of ACI. Eagle Bay Advisors LLC increased its position in shares of Albertsons Companies by 108.4% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after buying an additional 700 shares during the period. Signaturefd LLC increased its holdings in Albertsons Companies by 76.8% during the 3rd quarter. Signaturefd LLC now owns 4,181 shares of the company’s stock worth $77,000 after acquiring an additional 1,816 shares during the period. R Squared Ltd purchased a new stake in Albertsons Companies in the 4th quarter worth approximately $179,000. Assenagon Asset Management S.A. bought a new position in Albertsons Companies in the 3rd quarter valued at $185,000. Finally, DGS Capital Management LLC purchased a new position in shares of Albertsons Companies during the 3rd quarter valued at $199,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

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.