Albertsons Companies (NYSE:ACI) Now Covered by Citigroup

Citigroup started coverage on shares of Albertsons Companies (NYSE:ACI) in a report released on Friday, MarketBeat reports. The brokerage issued a buy rating and a $26.00 target price on the stock.

A number of other research analysts also recently commented on ACI. Telsey Advisory Group reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a research report on Thursday, January 9th. UBS Group decreased their target price on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a research report on Friday, October 18th. Tigress Financial reissued a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research report on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of Albertsons Companies in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Albertsons Companies presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Albertsons Companies Stock Performance

Shares of ACI opened at $19.86 on Friday. The company’s 50 day moving average price is $19.55 and its 200 day moving average price is $19.33. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $21.92. The company has a market capitalization of $11.50 billion, a PE ratio of 11.15, a PEG ratio of 1.83 and a beta of 0.51. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93.

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

Albertsons Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Albertsons Companies’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, January 24th. Albertsons Companies’s payout ratio is presently 26.97%.

Hedge Funds Weigh In On Albertsons Companies

Several large investors have recently bought and sold shares of ACI. Eagle Bay Advisors LLC raised its stake 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 purchasing an additional 700 shares during the last quarter. Signaturefd LLC raised its stake in Albertsons Companies by 76.8% during the 3rd quarter. Signaturefd LLC now owns 4,181 shares of the company’s stock valued at $77,000 after purchasing an additional 1,816 shares during the last quarter. R Squared Ltd acquired a new position in Albertsons Companies during the 4th quarter valued at $179,000. Assenagon Asset Management S.A. acquired a new position in Albertsons Companies during the 3rd quarter valued at $185,000. Finally, DGS Capital Management LLC acquired a new position in Albertsons Companies during the 3rd quarter valued at $199,000. 71.35% of the stock is currently owned by institutional investors and hedge funds.

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.