Royal Bank of Canada Lowers Albertsons Companies (NYSE:ACI) Price Target to $22.00

Albertsons Companies (NYSE:ACI) had its target price lowered by Royal Bank of Canada from $23.00 to $22.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on the company. Telsey Advisory Group restated a market perform rating and set a $27.25 price objective on shares of Albertsons Companies in a research report on Wednesday, April 17th. Evercore ISI lowered their price objective on Albertsons Companies from $23.00 to $22.00 and set an in-line rating for the company in a research report on Tuesday, April 16th. Roth Mkm raised their price objective on Albertsons Companies from $23.00 to $24.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Finally, Tigress Financial restated a buy rating and set a $27.00 price objective on shares of Albertsons Companies in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Albertsons Companies has an average rating of Moderate Buy and an average price target of $24.45.

Albertsons Companies Price Performance

Albertsons Companies stock opened at $20.14 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.19 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $11.63 billion, a PE ratio of 9.03, a P/E/G ratio of 0.95 and a beta of 0.50. Albertsons Companies has a 12 month low of $19.84 and a 12 month high of $23.88. The stock has a 50-day moving average price of $20.83 and a two-hundred day moving average price of $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 paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.48 annualized dividend and a yield of 2.38%. Albertsons Companies’s dividend payout ratio is currently 21.52%.

Institutional Investors Weigh In On Albertsons Companies

Several large investors have recently added to or reduced their stakes in ACI. Cornerstone Investment Partners LLC acquired a new stake in Albertsons Companies in the fourth quarter valued at approximately $1,023,000. SG Americas Securities LLC grew its stake in Albertsons Companies by 1,569.5% in the fourth quarter. SG Americas Securities LLC now owns 267,443 shares of the company’s stock valued at $6,151,000 after acquiring an additional 251,424 shares during the period. Schechter Investment Advisors LLC grew its stake in Albertsons Companies by 7.1% in the fourth quarter. Schechter Investment Advisors LLC now owns 776,966 shares of the company’s stock valued at $17,870,000 after acquiring an additional 51,590 shares during the period. Alpine Associates Management Inc. grew its stake in Albertsons Companies by 11.9% in the third quarter. Alpine Associates Management Inc. now owns 4,267,518 shares of the company’s stock valued at $97,086,000 after acquiring an additional 454,400 shares during the period. Finally, Dark Forest Capital Management LP grew its stake in Albertsons Companies by 466.2% in the third quarter. Dark Forest Capital Management LP now owns 96,926 shares of the company’s stock valued at $2,205,000 after acquiring an additional 79,808 shares during the period. Institutional investors and hedge funds own 71.35% of the company’s stock.

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.