Albertsons Companies (NYSE:ACI) Raised to “Outperform” at Telsey Advisory Group

Telsey Advisory Group upgraded shares of Albertsons Companies (NYSE:ACI) from a market perform rating to an outperform rating in a report issued on Tuesday, Marketbeat reports. Telsey Advisory Group currently has $26.00 price objective on the stock, up from their prior price objective of $21.00.

A number of other research analysts also recently commented on the company. Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, October 21st. Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a research report on Friday, October 18th. Morgan Stanley reduced their price target on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Evercore ISI boosted their price objective on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets reduced their target price on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.75.

Albertsons Companies Stock Performance

Shares of NYSE:ACI opened at $19.32 on Tuesday. Albertsons Companies has a 12-month low of $17.00 and a 12-month high of $23.47. The company’s 50 day moving average price is $18.92 and its two-hundred day moving average price is $19.36. The firm has a market cap of $11.19 billion, a PE ratio of 11.30, a PEG ratio of 1.07 and a beta of 0.51. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Equities research analysts predict that Albertsons Companies will post 2.13 earnings per share for the current year.

Albertsons Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Monday, October 28th. Albertsons Companies’s dividend payout ratio (DPR) is currently 28.07%.

Institutional Investors Weigh In On Albertsons Companies

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Albertsons Companies by 7.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 46,670 shares of the company’s stock valued at $922,000 after buying an additional 3,366 shares during the last quarter. Blue Trust Inc. raised its holdings in Albertsons Companies by 2,948.4% during the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock worth $62,000 after purchasing an additional 2,801 shares during the last quarter. &PARTNERS acquired a new position in shares of Albertsons Companies in the 2nd quarter worth approximately $360,000. Calamos Advisors LLC boosted its stake in shares of Albertsons Companies by 11.6% in the 2nd quarter. Calamos Advisors LLC now owns 1,678,613 shares of the company’s stock valued at $33,153,000 after purchasing an additional 174,349 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Albertsons Companies by 38.7% during the second quarter. Bank of New York Mellon Corp now owns 3,426,264 shares of the company’s stock worth $67,669,000 after buying an additional 956,744 shares during the last quarter. 71.35% of the stock is currently 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.