Albertsons Companies (NYSE:ACI) Sets New 1-Year Low After Analyst Downgrade

Albertsons Companies, Inc. (NYSE:ACI) hit a new 52-week low during mid-day trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $23.00 to $22.00. Royal Bank of Canada currently has an outperform rating on the stock. Albertsons Companies traded as low as $19.84 and last traded at $20.09, with a volume of 2130921 shares changing hands. The stock had previously closed at $20.32.

A number of other equities analysts have also issued reports on ACI. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a research note on Wednesday, April 17th. 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 note on Wednesday, January 10th. Tigress Financial reissued a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Friday, January 12th. Finally, Evercore ISI reduced their price objective on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Albertsons Companies has a consensus rating of “Moderate Buy” and an average target price of $24.45.

Institutional Trading of Albertsons Companies

A number of hedge funds have recently modified their holdings of ACI. NBC Securities Inc. purchased a new stake in shares of Albertsons Companies in the third quarter valued at $28,000. Blue Trust Inc. lifted its holdings in shares of Albertsons Companies by 255.1% in the fourth quarter. Blue Trust Inc. now owns 1,463 shares of the company’s stock valued at $34,000 after purchasing an additional 1,051 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Albertsons Companies in the third quarter valued at $52,000. Principal Securities Inc. purchased a new stake in shares of Albertsons Companies in the fourth quarter valued at $62,000. Finally, CI Investments Inc. lifted its holdings in shares of Albertsons Companies by 21.8% in the third quarter. CI Investments Inc. now owns 4,373 shares of the company’s stock valued at $99,000 after purchasing an additional 783 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Albertsons Companies Price Performance

The stock has a fifty day moving average price of $20.88 and a 200-day moving average price of $21.62. The company has a market cap of $11.55 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 0.95 and a beta of 0.50. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.84 and a quick ratio of 0.19.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.48 annualized dividend and a dividend yield of 2.39%. Albertsons Companies’s dividend payout ratio is 21.52%.

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.