Analysts Set Albertsons Companies, Inc. (NYSE:ACI) Target Price at $20.25

Albertsons Companies, Inc. (NYSE:ACI) has been given an average recommendation of “Hold” by the sixteen brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $20.25.

ACI has been the subject of several research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price objective on shares of Albertsons Companies in a research note on Monday, April 6th. JPMorgan Chase & Co. decreased their target price on Albertsons Companies from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings cut Albertsons Companies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Citigroup dropped their price target on Albertsons Companies from $22.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, June 29th. Finally, UBS Group cut their price objective on Albertsons Companies from $23.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 15th.

Hedge Funds Weigh In On Albertsons Companies

A number of institutional investors have recently made changes to their positions in ACI. Goldman Sachs Group Inc. lifted its holdings in shares of Albertsons Companies by 109.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,542,468 shares of the company’s stock worth $33,919,000 after acquiring an additional 806,336 shares during the last quarter. Empowered Funds LLC bought a new position in Albertsons Companies in the first quarter valued at $1,090,000. M&T Bank Corp increased its stake in Albertsons Companies by 21.4% in the second quarter. M&T Bank Corp now owns 14,364 shares of the company’s stock valued at $308,000 after acquiring an additional 2,528 shares during the last quarter. First Trust Advisors LP raised its position in Albertsons Companies by 39.3% during the second quarter. First Trust Advisors LP now owns 504,944 shares of the company’s stock valued at $10,861,000 after purchasing an additional 142,457 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in Albertsons Companies by 5.4% during the second quarter. Bank of Nova Scotia now owns 14,041 shares of the company’s stock valued at $302,000 after purchasing an additional 723 shares in the last quarter. Institutional investors own 71.35% of the company’s stock.

Albertsons Companies Stock Down 0.5%

Shares of NYSE:ACI opened at $14.64 on Monday. The firm has a fifty day moving average price of $15.04 and a two-hundred day moving average price of $16.43. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 45.76, a PEG ratio of 1.68 and a beta of 0.42. The company has a debt-to-equity ratio of 4.58, a current ratio of 0.86 and a quick ratio of 0.20. Albertsons Companies has a one year low of $13.16 and a one year high of $20.91.

Albertsons Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, July 24th. This represents a $0.68 annualized dividend and a yield of 4.6%. Albertsons Companies’s payout ratio is presently 212.50%.

About Albertsons Companies

Albertsons Companies, Inc (NYSE: ACI) is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company’s retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.

Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.