Royal Bank of Canada Cuts 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 published on Tuesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

ACI has been the topic of a number of other reports. Telsey Advisory Group reissued a market perform rating and issued a $27.25 price objective on shares of Albertsons Companies in a research note on Wednesday, April 17th. Tigress Financial restated a buy rating and issued a $27.00 target price on shares of Albertsons Companies in a report on Friday, January 12th. Roth Mkm upped their target price on shares of Albertsons Companies from $23.00 to $24.00 and gave the company a neutral rating in a report on Wednesday, January 10th. Finally, Evercore ISI reduced their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an in-line rating on the stock in a report on Tuesday, April 16th. 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, Albertsons Companies has a consensus rating of Moderate Buy and an average target price of $24.45.

Albertsons Companies Price Performance

Shares of NYSE ACI opened at $19.92 on Tuesday. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.96 and a beta of 0.50. Albertsons Companies has a 52 week low of $19.84 and a 52 week high of $23.88. The company’s 50-day moving average price is $20.85 and its 200 day moving average price is $21.61. The company has a current ratio of 0.84, a quick ratio of 0.19 and a debt-to-equity ratio of 2.83.

Albertsons Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued 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 dividend yield of 2.41%. Albertsons Companies’s payout ratio is currently 21.52%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ACI. National Bank of Canada FI lifted its holdings in shares of Albertsons Companies by 33.0% during the 3rd quarter. National Bank of Canada FI now owns 5,494 shares of the company’s stock worth $124,000 after acquiring an additional 1,362 shares during the period. DnB Asset Management AS lifted its holdings in shares of Albertsons Companies by 15.7% during the 3rd quarter. DnB Asset Management AS now owns 43,192 shares of the company’s stock worth $983,000 after acquiring an additional 5,871 shares during the period. SG Americas Securities LLC purchased a new position in shares of Albertsons Companies during the 3rd quarter worth about $364,000. Asset Management One Co. Ltd. lifted its holdings in shares of Albertsons Companies by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 107,919 shares of the company’s stock worth $2,455,000 after acquiring an additional 519 shares during the period. Finally, Ballentine Partners LLC purchased a new position in shares of Albertsons Companies during the 3rd quarter worth about $205,000. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

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.