Albertsons Companies (NYSE:ACI) Sees Large Volume Increase – Should You Buy?

Shares of Albertsons Companies, Inc. (NYSE:ACI) saw unusually-high trading volume on Thursday . Approximately 6,756,044 shares changed hands during mid-day trading, an increase of 113% from the previous session’s volume of 3,164,452 shares.The stock last traded at $18.87 and had previously closed at $18.23.

Wall Street Analyst Weigh In

Several research firms have commented on ACI. Royal Bank of Canada reduced their price objective on Albertsons Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday. Evercore ISI increased their target price on shares of Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Morgan Stanley lowered their price target on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday. Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. Finally, Tigress Financial restated a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Albertsons Companies currently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Albertsons Companies Stock Performance

The company has a market capitalization of $11.30 billion, a PE ratio of 11.40, a PEG ratio of 1.07 and a beta of 0.51. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. The business has a 50 day simple moving average of $18.87 and a 200 day simple moving average of $19.39.

Albertsons Companies (NYSE:ACI) last released its earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same period last year, the business earned $0.60 EPS. Albertsons Companies’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts predict that Albertsons Companies, Inc. will post 2.13 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Monday, October 28th. Albertsons Companies’s payout ratio is 28.07%.

Institutional Trading of Albertsons Companies

Several large investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in shares of Albertsons Companies by 9.2% in the 3rd quarter. Swiss National Bank now owns 1,117,200 shares of the company’s stock valued at $20,646,000 after acquiring an additional 94,300 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Albertsons Companies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,722 shares of the company’s stock valued at $12,395,000 after purchasing an additional 36,154 shares during the last quarter. K2 Principal Fund L.P. grew its position in Albertsons Companies by 68.4% during the 3rd quarter. K2 Principal Fund L.P. now owns 270,501 shares of the company’s stock worth $4,999,000 after purchasing an additional 109,901 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of Albertsons Companies during the 3rd quarter valued at about $1,906,000. Finally, Lubert Adler Management Company LP lifted its holdings in shares of Albertsons Companies by 47.1% in the 2nd quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock valued at $52,629,000 after buying an additional 852,857 shares during the period. 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.