Albertsons Companies (NYSE:ACI) Upgraded by Melius to Buy

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

A number of other research analysts have also weighed in on the stock. BMO Capital Markets cut their price target on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 16th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research report on Friday, October 11th. Melius Research began coverage on shares of Albertsons Companies in a research note on Monday, September 23rd. They issued a “hold” rating and a $19.00 target price for the company. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.58.

Albertsons Companies Price Performance

ACI opened at $18.77 on Monday. The stock 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. Albertsons Companies has a 12 month low of $17.80 and a 12 month high of $23.47. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 2.67. The company has a fifty day simple moving average of $19.03 and a 200 day simple moving average of $19.77.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Albertsons Companies had a return on equity of 56.01% and a net margin of 1.41%. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts expect that Albertsons Companies will post 2.25 EPS for the current 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. This represents a $0.48 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, October 28th. Albertsons Companies’s dividend payout ratio (DPR) is 21.52%.

Hedge Funds Weigh In On Albertsons Companies

A number of institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in shares of Albertsons Companies by 4.4% during the 3rd quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock worth $240,000 after purchasing an additional 544 shares during the last quarter. Verus Capital Partners LLC grew its holdings in Albertsons Companies by 3.6% during the second quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock worth $322,000 after purchasing an additional 565 shares during the period. Oppenheimer & Co. Inc. increased its position in Albertsons Companies by 1.7% during the first quarter. Oppenheimer & Co. Inc. now owns 51,025 shares of the company’s stock worth $1,094,000 after buying an additional 864 shares during the last quarter. AQR Capital Management LLC raised its stake in Albertsons Companies by 1.6% in the second quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after buying an additional 933 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in Albertsons Companies by 2.2% in the first quarter. 1832 Asset Management L.P. now owns 50,991 shares of the company’s stock valued at $1,093,000 after buying an additional 1,121 shares during the period. 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.