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

Telsey Advisory Group reissued their outperform rating on shares of Albertsons Companies (NYSE:ACI) in a research note published on Wednesday morning,Benzinga reports. They currently have a $24.00 price objective on the stock.

Several other research analysts have also weighed in on the company. Evercore ISI dropped their price target on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Tigress Financial restated a “buy” rating and set a $28.00 target price on shares of Albertsons Companies in a research note on Tuesday, July 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Albertsons Companies in a research note on Wednesday, April 16th. BMO Capital Markets upgraded Albertsons Companies from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $19.00 to $25.00 in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. set a $31.00 price objective on Albertsons Companies in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Albertsons Companies Trading Up 1.1%

NYSE:ACI opened at $20.47 on Wednesday. The business has a fifty day moving average of $21.67 and a 200-day moving average of $21.22. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.20. The stock has a market cap 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.

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

Albertsons Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 dividend on an annualized basis and a yield of 2.93%. Albertsons Companies’s payout ratio is 36.59%.

Insider Transactions at Albertsons Companies

In other Albertsons Companies news, EVP Omer Gajial sold 47,303 shares of the business’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 transaction, the executive vice president directly owned 162,569 shares of the company’s stock, valued at approximately $3,488,730.74. The trade was a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.35% of the company’s stock.

Institutional Trading of Albertsons Companies

A number of institutional investors have recently modified their holdings of ACI. West Oak Capital LLC bought a new stake in Albertsons Companies during the second quarter worth about $30,000. SVB Wealth LLC acquired a new position in shares of Albertsons Companies in the first quarter valued at approximately $32,000. EverSource Wealth Advisors LLC grew its position in Albertsons Companies by 316.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock worth $35,000 after buying an additional 1,358 shares in the last quarter. WealthCollab LLC grew its position in Albertsons Companies by 446.0% during the fourth quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock worth $35,000 after buying an additional 1,454 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in Albertsons Companies during the first quarter worth approximately $40,000. 71.35% of the stock is currently owned by institutional investors.

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.