Albertsons Companies (NYSE:ACI) Given New $24.00 Price Target at UBS Group

Albertsons Companies (NYSE:ACI) had its price target trimmed by UBS Group from $27.00 to $24.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

ACI has been the subject of several other reports. Bank of America assumed coverage on shares of Albertsons Companies in a research report on Friday, December 13th. They issued a “neutral” rating and a $22.00 price target for the company. Melius Research upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Monday, October 21st. Tigress Financial reaffirmed a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a report on Monday, October 21st. Evercore ISI increased their price target on Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.75.

Albertsons Companies Trading Down 2.7 %

NYSE ACI opened at $19.32 on Tuesday. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. Albertsons Companies has a twelve month low of $17.00 and a twelve month high of $23.47. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. The business’s fifty day moving average is $18.92 and its 200 day moving average is $19.36.

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. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Albertsons Companies will post 2.13 EPS for the current fiscal year.

Albertsons Companies Announces Dividend

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

Institutional Investors Weigh In On Albertsons Companies

Several hedge funds and other institutional investors have recently bought and sold shares of ACI. Swiss National Bank raised its position in shares of Albertsons Companies by 9.2% during the third quarter. Swiss National Bank now owns 1,117,200 shares of the company’s stock worth $20,646,000 after purchasing an additional 94,300 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Albertsons Companies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,722 shares of the company’s stock valued at $12,395,000 after purchasing an additional 36,154 shares during the period. K2 Principal Fund L.P. increased its stake in Albertsons Companies by 68.4% during the 3rd quarter. K2 Principal Fund L.P. now owns 270,501 shares of the company’s stock valued at $4,999,000 after purchasing an additional 109,901 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Albertsons Companies during the third quarter worth $1,906,000. Finally, Lubert Adler Management Company LP lifted its stake in shares of Albertsons Companies by 47.1% in the second quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock valued at $52,629,000 after buying an additional 852,857 shares in the last quarter. 71.35% of the stock is owned by 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.