Albertsons Companies (NYSE:ACI) Price Target Lowered to $22.00 at Royal Bank of Canada

Albertsons Companies (NYSE:ACI) had its price objective cut by Royal Bank of Canada from $23.00 to $22.00 in a report released on Tuesday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Evercore ISI lowered their target price on Albertsons Companies from $23.00 to $22.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. Roth Mkm upped their price target on shares of Albertsons Companies from $23.00 to $24.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Telsey Advisory Group reissued a market perform rating and issued a $27.25 price objective on shares of Albertsons Companies in a research report on Wednesday, April 17th. Finally, Tigress Financial restated a buy rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Friday, January 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $24.45.

Albertsons Companies Stock Up 0.4 %

Shares of ACI stock opened at $20.32 on Tuesday. The firm’s fifty day moving average price is $20.88 and its two-hundred day moving average price is $21.62. The company has a current ratio of 0.85, a quick ratio of 0.19 and a debt-to-equity ratio of 3.09. Albertsons Companies has a 1 year low of $19.88 and a 1 year high of $23.88. The firm has a market capitalization of $11.71 billion, a P/E ratio of 8.68, a PEG ratio of 0.96 and a beta of 0.50.

Albertsons Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, April 25th. Albertsons Companies’s dividend payout ratio is 20.51%.

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently modified their holdings of ACI. National Bank of Canada FI boosted its holdings in shares of Albertsons Companies by 33.0% during the 3rd quarter. National Bank of Canada FI now owns 5,494 shares of the company’s stock worth $124,000 after buying an additional 1,362 shares during the period. DnB Asset Management AS lifted its position in Albertsons Companies by 15.7% during the third quarter. DnB Asset Management AS now owns 43,192 shares of the company’s stock worth $983,000 after acquiring an additional 5,871 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Albertsons Companies during the third quarter worth approximately $364,000. Asset Management One Co. Ltd. grew its position in shares of Albertsons Companies by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 107,919 shares of the company’s stock valued at $2,455,000 after purchasing an additional 519 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Albertsons Companies during the third quarter worth approximately $205,000. 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.