Albertsons Companies’ (ACI) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Albertsons Companies (NYSE:ACI) in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $23.00 target price on the stock.

ACI has been the subject of several other research reports. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price target on shares of Albertsons Companies in a research note on Tuesday, February 4th. Bank of America assumed coverage on Albertsons Companies in a report on Friday, December 13th. They issued a “neutral” rating and a $22.00 target price on the stock. Evercore ISI boosted their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Tuesday, March 11th. Citigroup initiated coverage on shares of Albertsons Companies in a report on Friday, January 24th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Morgan Stanley reduced their target price on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Albertsons Companies Stock Performance

Shares of ACI opened at $21.95 on Thursday. Albertsons Companies has a one year low of $17.00 and a one year high of $23.20. The company has a 50-day simple moving average of $20.99 and a two-hundred day simple moving average of $19.77. 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 firm has a market capitalization of $12.71 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.92 and a beta of 0.47.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.77 billion during the quarter, compared to analyst estimates of $18.82 billion. During the same period last year, the business earned $0.79 EPS. Albertsons Companies’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Albertsons Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, January 24th. This is an increase from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s payout ratio is 33.71%.

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC lifted its stake in Albertsons Companies by 108.4% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Albertsons Companies by 1.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 47,232 shares of the company’s stock valued at $941,000 after buying an additional 891 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Albertsons Companies by 225.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after buying an additional 959 shares during the last quarter. Twin Capital Management Inc. grew its holdings in Albertsons Companies by 2.9% during the 4th quarter. Twin Capital Management Inc. now owns 40,476 shares of the company’s stock valued at $795,000 after buying an additional 1,146 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in Albertsons Companies by 4.9% in the 4th quarter. Rehmann Capital Advisory Group now owns 24,765 shares of the company’s stock worth $486,000 after acquiring an additional 1,153 shares during the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

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.