Albertsons Companies (NYSE:ACI) Hits New 1-Year Low Following Analyst Downgrade

Shares of Albertsons Companies, Inc. (NYSE:ACI - Get Free Report) reached a new 52-week low during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $23.00 to $22.00. Royal Bank of Canada currently has an outperform rating on the stock. Albertsons Companies traded as low as $19.84 and last traded at $20.09, with a volume of 2130921 shares trading hands. The stock had previously closed at $20.32.

Several other research firms also recently commented on ACI. Evercore ISI dropped their price objective on shares of Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a report on Tuesday, April 16th. Telsey Advisory Group reissued a "market perform" rating and set a $27.25 price target on shares of Albertsons Companies in a report on Wednesday, April 17th. Roth Mkm increased their price target on shares of Albertsons Companies from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, January 10th. Finally, Tigress Financial reissued a "buy" rating and set a $27.00 price target on shares of Albertsons Companies in a report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.45.

Hedge Funds Weigh In On Albertsons Companies

Large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new position in Albertsons Companies during the third quarter worth $28,000. Blue Trust Inc. raised its position in Albertsons Companies by 255.1% during the fourth quarter. Blue Trust Inc. now owns 1,463 shares of the company's stock worth $34,000 after acquiring an additional 1,051 shares during the period. Van ECK Associates Corp acquired a new position in Albertsons Companies during the third quarter worth $52,000. Principal Securities Inc. acquired a new position in Albertsons Companies during the fourth quarter worth $62,000. Finally, CI Investments Inc. raised its position in shares of Albertsons Companies by 21.8% in the third quarter. CI Investments Inc. now owns 4,373 shares of the company's stock valued at $99,000 after buying an additional 783 shares during the last quarter. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Albertsons Companies Price Performance

The stock's 50-day moving average price is $20.88 and its 200 day moving average price is $21.62. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.95 and a beta of 0.50. The company has a quick ratio of 0.19, a current ratio of 0.84 and a debt-to-equity ratio of 2.83.

Albertsons Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, April 25th. Albertsons Companies's dividend payout ratio (DPR) is 21.52%.

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.