JPMorgan Chase & Co. Lowers Albertsons Companies (NYSE:ACI) Price Target to $29.00

Albertsons Companies (NYSE:ACI - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $31.00 to $29.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the company. Tigress Financial restated a "buy" rating and issued a $28.00 price target on shares of Albertsons Companies in a research report on Tuesday, July 8th. BMO Capital Markets upgraded shares of Albertsons Companies from a "market perform" rating to an "outperform" rating and upped their price target for the company from $19.00 to $25.00 in a report on Wednesday, May 7th. UBS Group raised shares of Albertsons Companies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $22.00 to $27.00 in a research note on Tuesday. Telsey Advisory Group reaffirmed an "outperform" rating and set a $24.00 target price on shares of Albertsons Companies in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Albertsons Companies in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Albertsons Companies currently has a consensus rating of "Moderate Buy" and an average target price of $24.06.

Albertsons Companies Price Performance

NYSE:ACI traded down $0.24 during trading hours on Wednesday, reaching $20.56. The stock had a trading volume of 5,045,604 shares, compared to its average volume of 6,710,328. 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 capitalization of $11.51 billion, a PE ratio of 12.53, a PEG ratio of 2.11 and a beta of 0.44. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.20. The company has a 50 day moving average price of $21.58 and a two-hundred day moving average price of $21.24.

Albertsons Companies (NYSE:ACI - Get Free Report) last released 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. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. The business had revenue of $24.88 billion during the quarter, compared to analyst estimates of $24.68 billion. During the same quarter last year, the business earned $0.66 earnings per share. Albertsons Companies's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Albertsons Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, July 25th. Albertsons Companies's payout ratio is presently 36.59%.

Insider Activity at Albertsons Companies

In related news, EVP Omer Gajial sold 47,303 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $21.46, for a total transaction of $1,015,122.38. Following the transaction, the executive vice president directly owned 162,569 shares in the company, valued at $3,488,730.74. The trade was a 22.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.35% of the company's stock.

Institutional Investors Weigh In On Albertsons Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc grew its holdings in shares of Albertsons Companies by 29.9% during the second quarter. Aberdeen Group plc now owns 15,969 shares of the company's stock valued at $343,000 after buying an additional 3,677 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in Albertsons Companies by 27.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 149,300 shares of the company's stock valued at $3,211,000 after purchasing an additional 32,600 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Albertsons Companies in the second quarter valued at about $210,000. Highland Capital Management LLC acquired a new stake in shares of Albertsons Companies during the second quarter worth about $264,000. Finally, Ameritas Advisory Services LLC acquired a new position in Albertsons Companies in the 2nd quarter worth approximately $54,000. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

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.