MKM Partners Boosts Albertsons Companies (NYSE:ACI) Price Target to $33.00

Albertsons Companies (NYSE:ACI) had its price objective increased by MKM Partners from $31.00 to $33.00 in a research report report published on Thursday, The Fly reports.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Albertsons Companies from $39.00 to $40.00 in a report on Thursday. Royal Bank of Canada upped their price objective on shares of Albertsons Companies from $20.00 to $33.00 and gave the stock an outperform rating in a report on Tuesday, October 19th. Zacks Investment Research upgraded shares of Albertsons Companies from a hold rating to a buy rating and set a $35.00 price objective on the stock in a report on Friday, January 7th. Oppenheimer downgraded shares of Albertsons Companies from an outperform rating to a market perform rating and lowered their price objective for the stock from $34.09 to $13.90 in a report on Monday, October 11th. Finally, Morgan Stanley upped their price objective on shares of Albertsons Companies from $24.00 to $26.00 and gave the stock an underweight rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $28.81.

Shares of NYSE ACI opened at $30.94 on Thursday. The firm has a market cap of $14.45 billion, a PE ratio of 18.53, a P/E/G ratio of 1.42 and a beta of -0.20. Albertsons Companies has a 12-month low of $15.97 and a 12-month high of $37.85. The company’s fifty day simple moving average is $32.35 and its 200 day simple moving average is $28.97. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 3.43.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, January 11th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.20. The business had revenue of $16.73 billion for the quarter, compared to analyst estimates of $16.04 billion. Albertsons Companies had a net margin of 1.45% and a return on equity of 92.76%. Albertsons Companies’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts predict that Albertsons Companies will post 2.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 10th. Shareholders of record on Wednesday, January 26th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, January 25th. This represents a $0.48 dividend on an annualized basis and a yield of 1.55%. Albertsons Companies’s dividend payout ratio is presently 28.74%.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Albertsons Companies by 13.7% during the third quarter. BlackRock Inc. now owns 4,521,390 shares of the company’s stock worth $140,750,000 after purchasing an additional 545,970 shares during the period. State Street Corp boosted its position in shares of Albertsons Companies by 30.0% in the second quarter. State Street Corp now owns 2,258,683 shares of the company’s stock valued at $44,406,000 after acquiring an additional 520,705 shares during the period. Credit Suisse AG boosted its position in shares of Albertsons Companies by 5,411.0% in the second quarter. Credit Suisse AG now owns 1,573,219 shares of the company’s stock valued at $31,528,000 after acquiring an additional 1,544,672 shares during the period. Vanguard Group Inc. boosted its position in shares of Albertsons Companies by 19.1% in the second quarter. Vanguard Group Inc. now owns 1,521,166 shares of the company’s stock valued at $29,907,000 after acquiring an additional 244,178 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Albertsons Companies by 49.7% in the third quarter. Geode Capital Management LLC now owns 1,319,553 shares of the company’s stock valued at $41,077,000 after acquiring an additional 438,379 shares during the period. Hedge funds and other institutional investors own 58.05% of the company’s stock.

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. As of February 27, 2021, it operated 2,277 stores under various banners, including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets, and Balducci's Food Lovers Market; and 1,727 pharmacies, 1,313 in-store branded coffee shops, 400 adjacent fuel centers, 22 distribution centers, and 20 manufacturing facilities, as well as various digital platforms.

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