Albertsons Companies’ (ACI) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Albertsons Companies (NYSE:ACI) in a report published on Wednesday,Benzinga reports. The firm currently has a $24.00 price target on the stock.

A number of other brokerages have also recently commented on ACI. Evercore ISI dropped their price target on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Thursday, April 17th. UBS Group dropped their price target on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. set a $31.00 price target on Albertsons Companies in a research note on Tuesday, July 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Albertsons Companies in a report on Wednesday, April 16th. Finally, Tigress Financial restated a “buy” rating and issued a $28.00 price objective on shares of Albertsons Companies in a report on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Albertsons Companies Stock Up 1.1%

Shares of ACI opened at $20.47 on Wednesday. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.20. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.05 and a beta of 0.44. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.22 and a current ratio of 0.82. The stock has a fifty day moving average of $21.67 and a 200-day moving average of $21.22.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Albertsons Companies had a return on equity of 37.92% and a net margin of 1.18%. The company had revenue of $24.88 billion during the quarter, compared to analysts’ expectations of $24.68 billion. During the same period in the prior year, the company earned $0.66 EPS. Albertsons Companies’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 25th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.60 annualized dividend and a dividend yield of 2.93%. Albertsons Companies’s dividend payout ratio is presently 36.59%.

Insider Activity at Albertsons Companies

In other news, EVP Omer Gajial sold 47,303 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.46, for a total value of $1,015,122.38. Following the completion of the sale, the executive vice president directly owned 162,569 shares in the company, valued at $3,488,730.74. This trade represents a 22.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds have recently added to or reduced their stakes in the stock. West Oak Capital LLC acquired a new position in Albertsons Companies during the 2nd quarter valued at about $30,000. SVB Wealth LLC acquired a new position in Albertsons Companies during the 1st quarter valued at about $32,000. WealthCollab LLC boosted 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 during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Albertsons Companies by 316.6% during the 4th 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. Finally, Bessemer Group Inc. acquired a new position in Albertsons Companies during the 1st quarter valued at about $40,000. 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.