Albertsons Companies (NYSE:ACI) Rating Increased to Buy at Roth Mkm

Roth Mkm upgraded shares of Albertsons Companies (NYSE:ACI) from a neutral rating to a buy rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $24.00 price objective on the stock.

A number of other research firms have also recently issued reports on ACI. Evercore ISI decreased 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. Royal Bank of Canada lowered their price objective on shares of Albertsons Companies from $23.00 to $22.00 and set an outperform rating for the company in a research report on Tuesday. Tigress Financial restated a buy rating and issued a $27.00 target price on shares of Albertsons Companies in a research report on Friday, January 12th. Finally, Telsey Advisory Group reaffirmed a market perform rating and set a $27.25 target price on shares of Albertsons Companies in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $24.45.

Albertsons Companies Trading Up 1.2 %

Shares of ACI opened at $20.14 on Tuesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.19 and a current ratio of 0.84. Albertsons Companies has a 52-week low of $19.84 and a 52-week high of $23.88. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.95 and a beta of 0.50. The business’s fifty day moving average is $20.83 and its 200-day moving average is $21.60.

Albertsons Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.48 annualized dividend and a yield of 2.38%. Albertsons Companies’s dividend payout ratio is presently 21.52%.

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACI. Verdence Capital Advisors LLC increased its stake in shares of Albertsons Companies by 25.6% in the first quarter. Verdence Capital Advisors LLC now owns 52,512 shares of the company’s stock valued at $1,126,000 after buying an additional 10,716 shares during the period. New York State Teachers Retirement System bought a new stake in Albertsons Companies in the first quarter valued at approximately $349,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Albertsons Companies by 64.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 194,471 shares of the company’s stock worth $4,169,000 after purchasing an additional 76,494 shares during the last quarter. Amalgamated Bank raised its holdings in Albertsons Companies by 2.7% during the 1st quarter. Amalgamated Bank now owns 79,586 shares of the company’s stock worth $1,706,000 after purchasing an additional 2,088 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its position in shares of Albertsons Companies by 19.2% in the 1st quarter. IFM Investors Pty Ltd now owns 69,571 shares of the company’s stock worth $1,492,000 after purchasing an additional 11,224 shares during the period. 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.