Evercore ISI Cuts Albertsons Companies (NYSE:ACI) Price Target to $22.00

Albertsons Companies (NYSE:ACI) had its price objective decreased by Evercore ISI from $23.00 to $22.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

ACI has been the topic of several other reports. Telsey Advisory Group reissued a market perform rating and issued a $27.25 target price on shares of Albertsons Companies in a research report on Thursday, January 4th. Tigress Financial reaffirmed 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 reaffirmed an outperform rating and set a $24.00 price target on shares of Albertsons Companies in a research report on Tuesday, February 13th. Finally, Roth Mkm lifted their price target on shares of Albertsons Companies from $23.00 to $24.00 and gave the company a neutral rating in a research report on Wednesday, January 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Albertsons Companies presently has a consensus rating of Hold and an average target price of $24.85.

Albertsons Companies Price Performance

ACI opened at $20.46 on Tuesday. The company’s 50 day simple moving average is $20.93 and its 200 day simple moving average is $21.69. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.19 and a current ratio of 0.85. Albertsons Companies has a 1 year low of $19.88 and a 1 year high of $23.88. The stock has a market capitalization of $11.78 billion, a PE ratio of 8.74, a P/E/G ratio of 0.95 and a beta of 0.50.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.35%. Albertsons Companies’s dividend payout ratio is currently 20.51%.

Institutional Trading of Albertsons Companies

A number of hedge funds have recently made changes to their positions in ACI. Norges Bank purchased a new stake in shares of Albertsons Companies during the fourth quarter valued at approximately $312,510,000. BlackRock Inc. raised its stake in shares of Albertsons Companies by 99.6% during the second quarter. BlackRock Inc. now owns 15,729,051 shares of the company’s stock valued at $343,208,000 after purchasing an additional 7,848,362 shares during the period. Vanguard Group Inc. raised its stake in shares of Albertsons Companies by 95.1% during the third quarter. Vanguard Group Inc. now owns 15,614,698 shares of the company’s stock valued at $388,181,000 after purchasing an additional 7,613,034 shares during the period. State Street Corp raised its stake in shares of Albertsons Companies by 108.9% during the second quarter. State Street Corp now owns 6,658,159 shares of the company’s stock valued at $145,281,000 after purchasing an additional 3,470,188 shares during the period. Finally, Westchester Capital Management LLC purchased a new stake in shares of Albertsons Companies during the third quarter valued at approximately $64,739,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

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.