Albertsons Companies (NYSE:ACI) Lifted to “Buy” at Roth Mkm

Roth Mkm upgraded shares of Albertsons Companies (NYSE:ACI) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat.com reports. They currently have $24.00 price target on the stock.

ACI has been the subject of several other reports. Tigress Financial restated a buy rating and issued a $27.00 price target on shares of Albertsons Companies in a research note on Friday, January 12th. Evercore ISI reduced their price target on Albertsons Companies from $23.00 to $22.00 and set an in-line rating for the company in a research note on Tuesday, April 16th. Telsey Advisory Group restated a market perform rating and issued a $27.25 price target on shares of Albertsons Companies in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reduced their price target on Albertsons Companies from $23.00 to $22.00 and set an outperform rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Albertsons Companies currently has an average rating of Moderate Buy and an average price target of $24.45.

Albertsons Companies Stock Performance

ACI opened at $19.92 on Tuesday. The business has a fifty day simple moving average of $20.85 and a 200 day simple moving average of $21.61. The company has a market capitalization of $11.50 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50. Albertsons Companies has a 1 year low of $19.84 and a 1 year high of $23.88. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.84 and a quick ratio of 0.19.

Albertsons Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.12 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.48 annualized dividend and a yield of 2.41%. Albertsons Companies’s dividend payout ratio is presently 21.52%.

Hedge Funds Weigh In On Albertsons Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Albertsons Companies by 9.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,144,018 shares of the company’s stock valued at $754,026,000 after acquiring an additional 2,950,786 shares in the last quarter. Norges Bank acquired a new position in Albertsons Companies in the 4th quarter valued at $312,510,000. LSV Asset Management raised its holdings in shares of Albertsons Companies by 6.0% during the 4th quarter. LSV Asset Management now owns 4,992,700 shares of the company’s stock worth $114,832,000 after buying an additional 283,100 shares in the last quarter. Alpine Associates Management Inc. raised its holdings in shares of Albertsons Companies by 3.1% during the 4th quarter. Alpine Associates Management Inc. now owns 4,401,418 shares of the company’s stock worth $101,233,000 after buying an additional 133,900 shares in the last quarter. Finally, Segantii Capital Management Ltd raised its holdings in shares of Albertsons Companies by 23.7% during the 4th quarter. Segantii Capital Management Ltd now owns 4,125,207 shares of the company’s stock worth $94,880,000 after buying an additional 790,207 shares in the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

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.