Albertsons Companies (NYSE:ACI) Hits New 52-Week High – What’s Next?

Albertsons Companies, Inc. (NYSE:ACI)’s stock price reached a new 52-week high on Monday . The stock traded as high as $21.88 and last traded at $21.70, with a volume of 916621 shares traded. The stock had previously closed at $21.08.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACI. Telsey Advisory Group reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, March 11th. Citigroup started coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They issued a “buy” rating and a $26.00 price target for the company. 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 note on Wednesday, December 11th. UBS Group cut their price objective on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, Evercore ISI raised their target price on Albertsons Companies from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Albertsons Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Albertsons Companies Price Performance

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 has a 50-day simple moving average of $20.46 and a 200-day simple moving average of $19.49. The stock has a market cap of $12.70 billion, a PE ratio of 12.32, a PEG ratio of 1.92 and a beta of 0.50.

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

Albertsons Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were paid a dividend of $0.15 per share. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, January 24th. This represents a $0.60 annualized dividend and a dividend yield of 2.74%. Albertsons Companies’s payout ratio is 33.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC increased its holdings in Albertsons Companies by 108.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Albertsons Companies by 225.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after purchasing an additional 959 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after buying an additional 1,358 shares in the last quarter. WealthCollab LLC grew its holdings in Albertsons Companies by 446.0% during the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock valued at $35,000 after buying an additional 1,454 shares during the last quarter. Finally, Ossiam purchased a new position in Albertsons Companies during the fourth quarter worth $93,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

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.