Albertsons Companies (NYSE:ACI) Trading Down 3.7% - Here's What Happened

Key Points

• Albertsons Companies shares declined by 3.7% to $18.79, with trading volume down by 62% compared to the average.
• Analysts have set a consensus price target of $24.06 with twelve buy ratings and only one sell rating amidst various price adjustments from major brokerages.
• The company reported a quarterly EPS of $0.55, slightly above expectations, with revenue increasing by 2.5% year-over-year to $24.88 billion.

Albertsons Companies, Inc. (NYSE:ACI - Get Free Report) shares fell 3.7% during trading on Wednesday . The company traded as low as $18.59 and last traded at $18.79. 2,300,660 shares changed hands during trading, a decline of 62% from the average session volume of 6,126,885 shares. The stock had previously closed at $19.50.

Analysts Set New Price Targets

A number of brokerages have commented on ACI. Barclays began coverage on shares of Albertsons Companies in a research report on Monday, July 21st. They set an "underweight" rating and a $19.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Albertsons Companies from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Tigress Financial reissued a "buy" rating and set a $28.00 price objective on shares of Albertsons Companies in a research report on Tuesday, July 8th. Wall Street Zen upgraded Albertsons Companies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Roth Capital reaffirmed a "buy" rating and set a $24.00 price target (up from $23.00) on shares of Albertsons Companies in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

Albertsons Companies Stock Performance

The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.18 and a current ratio of 0.82. The stock has a market cap of $10.63 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. The company's 50 day simple moving average is $20.92 and its 200 day simple moving average is $21.22.

Albertsons Companies (NYSE:ACI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $24.88 billion during the quarter, compared to analyst estimates of $24.68 billion. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Analysts expect that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were paid a $0.15 dividend. The ex-dividend date was Friday, July 25th. This represents a $0.60 annualized dividend and a yield of 3.2%. Albertsons Companies's dividend payout ratio (DPR) is 36.59%.

Institutional Investors Weigh In On Albertsons Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Oak Capital LLC purchased a new stake in shares of Albertsons Companies during the 2nd quarter worth approximately $30,000. SVB Wealth LLC purchased a new stake in shares of Albertsons Companies during the 1st quarter worth approximately $32,000. Allworth Financial LP increased its stake in shares of Albertsons Companies by 98.4% during the 2nd quarter. Allworth Financial LP now owns 1,702 shares of the company's stock worth $37,000 after purchasing an additional 844 shares during the last quarter. WealthCollab LLC increased its stake in shares of Albertsons Companies by 446.0% during the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company's stock worth $35,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of Albertsons Companies during the 1st quarter worth approximately $40,000. 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.

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