Albertsons Companies (NYSE:ACI) Trading 4.5% Higher Following Earnings Beat

Shares of Albertsons Companies, Inc. (NYSE:ACI) rose 4.5% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $20.86 and last traded at $20.85. Approximately 2,256,034 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 6,533,399 shares. The stock had previously closed at $19.94.

The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $18.80 billion for the quarter, compared to the consensus estimate of $18.78 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. During the same period in the prior year, the business earned $0.54 earnings per share.

Albertsons Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.84%. Albertsons Companies’s dividend payout ratio (DPR) is presently 33.71%.

Analyst Upgrades and Downgrades

ACI has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, February 4th. Evercore ISI raised their price objective on Albertsons Companies from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Albertsons Companies in a research report on Wednesday. UBS Group reduced their target price on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Citigroup initiated coverage on Albertsons Companies in a report on Friday, January 24th. They issued a “buy” rating and a $26.00 price target for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.36.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC increased 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 worth $26,000 after buying an additional 700 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Albertsons Companies by 225.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after acquiring an additional 959 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Albertsons Companies by 316.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after purchasing an additional 1,358 shares during the last quarter. WealthCollab LLC grew its stake 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 purchasing an additional 1,454 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Albertsons Companies by 340.1% during the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the company’s stock worth $42,000 after purchasing an additional 1,483 shares during the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

Albertsons Companies Stock Performance

The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.92 and a beta of 0.47. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. The stock has a 50-day simple moving average of $21.17 and a 200-day simple moving average of $19.93.

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.