Royal Bank of Canada Reaffirms “Outperform” Rating for Albertsons Companies (NYSE:ACI)

Royal Bank of Canada restated their outperform rating on shares of Albertsons Companies (NYSE:ACI) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $23.00 price target on the stock.

ACI has been the subject of a number of other reports. Citigroup started coverage on Albertsons Companies in a research report on Friday, January 24th. They issued a “buy” rating and a $26.00 price objective for the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, March 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday, February 4th. Bank of America began coverage on shares of Albertsons Companies in a research note on Friday, December 13th. They set a “neutral” rating and a $22.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Albertsons Companies presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Price Performance

NYSE:ACI opened at $22.96 on Thursday. 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 firm has a fifty day simple moving average of $20.94 and a 200 day simple moving average of $19.74. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $23.20. The stock has a market capitalization of $13.30 billion, a PE ratio of 12.90, a P/E/G ratio of 1.92 and a beta of 0.47.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.77 billion for the quarter, compared to analyst estimates of $18.82 billion. During the same period in the previous year, the business earned $0.79 EPS. Albertsons Companies’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts expect that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Albertsons Companies Increases Dividend

The business 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 of this dividend was Friday, January 24th. This is a boost from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 2.61%. Albertsons Companies’s payout ratio is currently 33.71%.

Institutional Trading of Albertsons Companies

Large investors have recently modified their holdings of the stock. Private Management Group Inc. lifted its position in Albertsons Companies by 2.0% during the fourth quarter. Private Management Group Inc. now owns 2,196,484 shares of the company’s stock worth $43,138,000 after purchasing an additional 43,532 shares during the period. NINE MASTS CAPITAL Ltd bought a new stake in shares of Albertsons Companies during the 4th quarter worth approximately $746,000. K2 Principal Fund L.P. boosted its position in shares of Albertsons Companies by 68.4% during the 3rd quarter. K2 Principal Fund L.P. now owns 270,501 shares of the company’s stock worth $4,999,000 after acquiring an additional 109,901 shares in the last quarter. ORBA Wealth Advisors L.L.C. bought a new position in Albertsons Companies in the fourth quarter valued at approximately $433,000. Finally, Kovitz Investment Group Partners LLC bought a new position in Albertsons Companies in the third quarter valued at approximately $1,906,000. 71.35% of the stock is owned by institutional investors and hedge funds.

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.