Albertsons Companies (NYSE:ACI) Sets New 1-Year Low at $19.41

Shares of Albertsons Companies, Inc. (NYSE:ACI) hit a new 52-week low during trading on Tuesday . The stock traded as low as $19.41 and last traded at $19.45, with a volume of 1397798 shares. The stock had previously closed at $19.61.

Wall Street Analysts Forecast Growth

ACI has been the subject of several research reports. Telsey Advisory Group reissued a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a report on Tuesday, April 23rd. Roth Capital raised shares of Albertsons Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 23rd. Roth Mkm upgraded shares of Albertsons Companies from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, April 23rd. Evercore ISI dropped their price objective on shares of 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. Finally, Royal Bank of Canada decreased their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.45.

Albertsons Companies Price Performance

The company has a quick ratio of 0.18, a current ratio of 0.84 and a debt-to-equity ratio of 2.83. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 8.78, a P/E/G ratio of 1.01 and a beta of 0.49. The business’s 50 day simple moving average is $20.21 and its 200-day simple moving average is $20.94.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings results on Monday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Albertsons Companies had a net margin of 1.64% and a return on equity of 68.02%. The business had revenue of $18.34 billion for the quarter, compared to analyst estimates of $18.40 billion. On average, research analysts forecast that Albertsons Companies, Inc. will post 2.42 earnings per share for the current year.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Friday, July 26th. Albertsons Companies’s dividend payout ratio (DPR) is 21.52%.

Insider Activity

In other news, insider Anuj Dhanda sold 100,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $20.35, for a total transaction of $2,035,000.00. Following the completion of the transaction, the insider now owns 365,297 shares of the company’s stock, valued at $7,433,793.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Albertsons Companies news, insider Anuj Dhanda sold 100,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $20.35, for a total value of $2,035,000.00. Following the sale, the insider now owns 365,297 shares in the company, valued at approximately $7,433,793.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert Bruce Larson sold 24,362 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $20.24, for a total value of $493,086.88. Following the completion of the sale, the chief accounting officer now owns 50,241 shares in the company, valued at $1,016,877.84. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Albertsons Companies

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Albertsons Companies during the 4th quarter worth approximately $312,510,000. Vanguard Group Inc. grew its stake in shares of Albertsons Companies by 9.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,144,018 shares of the company’s stock worth $754,026,000 after acquiring an additional 2,950,786 shares in the last quarter. Segantii Capital Management Ltd raised its holdings in shares of Albertsons Companies by 23.7% in the fourth quarter. Segantii Capital Management Ltd now owns 4,125,207 shares of the company’s stock valued at $94,880,000 after purchasing an additional 790,207 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Albertsons Companies by 84.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,598,800 shares of the company’s stock valued at $34,278,000 after purchasing an additional 733,000 shares during the last quarter. Finally, Calamos Advisors LLC boosted its holdings in Albertsons Companies by 88.4% during the fourth quarter. Calamos Advisors LLC now owns 1,504,264 shares of the company’s stock worth $34,598,000 after purchasing an additional 705,861 shares during the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

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.