Albertsons Companies (NYSE:ACI) Upgraded to Buy by Roth Mkm

Roth Mkm upgraded shares of Albertsons Companies (NYSE:ACI) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat reports. The firm currently has $24.00 price target on the stock.

ACI has been the topic of a number of other reports. Telsey Advisory Group restated a market perform rating and set a $27.25 price target on shares of Albertsons Companies in a research report on Wednesday, April 17th. Tigress Financial restated a buy rating and set a $27.00 price target on shares of Albertsons Companies in a research report on Friday, January 12th. Royal Bank of Canada decreased their price target on Albertsons Companies from $23.00 to $22.00 and set an outperform rating on the stock in a research report on Tuesday. Finally, Evercore ISI decreased their price target 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $24.45.

Albertsons Companies Trading Up 0.4 %

ACI stock opened at $20.32 on Tuesday. Albertsons Companies has a 1-year low of $19.88 and a 1-year high of $23.88. The firm has a market cap of $11.71 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.96 and a beta of 0.50. The business’s 50 day moving average is $20.88 and its 200-day moving average is $21.62. The company has a current ratio of 0.85, a quick ratio of 0.19 and a debt-to-equity ratio of 3.09.

Albertsons Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.48 dividend on an annualized basis and a yield of 2.36%. Albertsons Companies’s payout ratio is 20.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACI. National Bank of Canada FI boosted its position in Albertsons Companies by 33.0% in the 3rd quarter. National Bank of Canada FI now owns 5,494 shares of the company’s stock valued at $124,000 after buying an additional 1,362 shares during the last quarter. DnB Asset Management AS lifted its stake in shares of Albertsons Companies by 15.7% in the 3rd quarter. DnB Asset Management AS now owns 43,192 shares of the company’s stock valued at $983,000 after purchasing an additional 5,871 shares during the period. SG Americas Securities LLC acquired a new position in shares of Albertsons Companies in the 3rd quarter valued at $364,000. Asset Management One Co. Ltd. lifted its stake in shares of Albertsons Companies by 0.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 107,919 shares of the company’s stock valued at $2,455,000 after purchasing an additional 519 shares during the period. Finally, Ballentine Partners LLC acquired a new position in shares of Albertsons Companies in the 3rd quarter valued at $205,000. 71.35% of the stock is currently owned by institutional investors.

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.