Albertsons Companies (NYSE:ACI) Reaches New 1-Year High – Here’s Why

Albertsons Companies, Inc. (NYSE:ACI) shares hit a new 52-week high on Monday . The stock traded as high as $21.88 and last traded at $21.70, with a volume of 916621 shares trading hands. The stock had previously closed at $21.08.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI boosted their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Tuesday, March 11th. Telsey Advisory Group reissued an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, March 11th. UBS Group lowered their price objective on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada boosted their price objective on shares of Albertsons Companies from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, March 13th. Finally, Bank of America started coverage on shares of Albertsons Companies in a research note on Friday, December 13th. They set a “neutral” rating and a $22.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Albertsons Companies Trading Up 0.4 %

The business’s 50-day moving average is $20.56 and its two-hundred day moving average is $19.52. 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 market capitalization of $12.76 billion, a PE ratio of 12.37, a PEG ratio of 1.92 and a beta of 0.50.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The firm had revenue of $18.77 billion during the quarter, compared to analysts’ expectations of $18.82 billion. During the same period in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were issued a $0.15 dividend. The ex-dividend date was Friday, January 24th. This represents a $0.60 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s payout ratio is currently 33.71%.

Hedge Funds Weigh In On Albertsons Companies

Institutional investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC lifted its holdings in Albertsons Companies by 108.4% in 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 in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Albertsons Companies by 225.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after buying an additional 959 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Albertsons Companies by 316.6% in the 4th 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 lifted its holdings in Albertsons Companies by 446.0% in the 4th 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, Ossiam acquired a new position in Albertsons Companies in the 4th quarter worth $93,000. 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.