Albertsons Companies (NYSE:ACI) Rating Increased to Buy at Melius Research

Melius Research upgraded shares of Albertsons Companies (NYSE:ACI) from a hold rating to a buy rating in a report released on Monday, Marketbeat reports. Melius Research currently has $24.00 price target on the stock.

ACI has been the subject of several other reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 price target on shares of Albertsons Companies in a report on Friday, October 11th. BMO Capital Markets decreased their price target on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Finally, Melius upgraded shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.58.

Albertsons Companies Price Performance

Shares of ACI stock opened at $18.77 on Monday. The firm has a market cap of $10.87 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.02 and a beta of 0.48. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.88 and a quick ratio of 0.21. Albertsons Companies has a 1-year low of $17.80 and a 1-year high of $23.47. The firm has a fifty day moving average of $19.03 and a two-hundred day moving average of $19.77.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Albertsons Companies had a net margin of 1.41% and a return on equity of 56.01%. The business had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same period in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts anticipate that Albertsons Companies will post 2.25 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.56%. Albertsons Companies’s dividend payout ratio (DPR) is 21.52%.

Institutional Trading of Albertsons Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new stake in shares of Albertsons Companies during the 1st quarter worth about $41,000. Signaturefd LLC raised its position in shares of Albertsons Companies by 108.4% during the 2nd quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock worth $47,000 after buying an additional 1,230 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 buying an additional 2,801 shares in the last quarter. UniSuper Management Pty Ltd raised its position in shares of Albertsons Companies by 133.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock worth $105,000 after buying an additional 2,800 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of Albertsons Companies in the 2nd quarter worth approximately $126,000. 71.35% of the stock is currently owned by 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.