Albertsons Companies (NYSE:ACI) Upgraded to “Overweight” by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Albertsons Companies (NYSE:ACI) from an equal weight rating to an overweight rating in a research note published on Friday, MarketBeat.com reports. Wells Fargo & Company currently has $23.00 price objective on the stock, up from their prior price objective of $22.00.

Other equities analysts have also issued reports about the stock. BMO Capital Markets lowered their target price on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.25 target price on shares of Albertsons Companies in a report on Friday, October 11th. Finally, Melius Research started coverage on shares of Albertsons Companies in a report on Monday, September 23rd. They set a “hold” rating and a $19.00 target price for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.58.

Albertsons Companies Stock Performance

Shares of ACI opened at $18.73 on Friday. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.88 and a quick ratio of 0.21. Albertsons Companies has a one year low of $17.80 and a one year high of $23.47. The company has a 50-day simple moving average of $19.13 and a two-hundred day simple moving average of $19.81. The firm has a market capitalization of $10.85 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.48.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Albertsons Companies had a net margin of 1.41% and a return on equity of 56.01%. The business had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same period last year, the business posted $0.60 earnings per share. Albertsons Companies’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Albertsons Companies will post 2.25 EPS for the current fiscal year.

Albertsons Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, October 28th. Albertsons Companies’s dividend payout ratio (DPR) is currently 21.52%.

Institutional Investors Weigh In On Albertsons Companies

A number of large investors have recently added to or reduced their stakes in ACI. PNC Financial Services Group Inc. grew its position in Albertsons Companies by 41.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,616 shares of the company’s stock worth $175,000 after purchasing an additional 2,250 shares during the period. Eagle Rock Investment Company LLC grew its position in Albertsons Companies by 31.8% in the 1st quarter. Eagle Rock Investment Company LLC now owns 58,148 shares of the company’s stock worth $1,247,000 after purchasing an additional 14,013 shares during the period. TrueMark Investments LLC bought a new stake in Albertsons Companies in the 1st quarter worth approximately $1,147,000. Wealth Enhancement Advisory Services LLC grew its position in Albertsons Companies by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock worth $928,000 after purchasing an additional 2,144 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Albertsons Companies by 0.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 691,123 shares of the company’s stock worth $14,818,000 after acquiring an additional 1,936 shares during the last quarter. 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.