Albertsons Companies (NYSE:ACI) Issues FY 2022 Earnings Guidance

Albertsons Companies (NYSE:ACI – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $2.80-$2.95 for the period, compared to the consensus EPS estimate of $2.85. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACI. Royal Bank of Canada boosted their price objective on Albertsons Companies from $33.00 to $37.00 and gave the stock an outperform rating in a research report on Wednesday, April 13th. BMO Capital Markets decreased their price target on Albertsons Companies from $26.00 to $24.00 in a research report on Friday, July 15th. Tigress Financial raised their price target on Albertsons Companies from $27.00 to $32.00 in a report on Friday, April 29th. UBS Group lowered their price target on Albertsons Companies from $37.00 to $29.00 and set a neutral rating on the stock in a research report on Wednesday, July 27th. Finally, Morgan Stanley lifted their price objective on Albertsons Companies from $26.00 to $28.00 and gave the stock an underweight rating in a report on Wednesday, April 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Albertsons Companies presently has a consensus rating of Hold and an average target price of $31.64.

Albertsons Companies Trading Up 0.9 %

NYSE:ACI traded up $0.25 on Friday, hitting $27.05. The stock had a trading volume of 2,781,073 shares, compared to its average volume of 2,875,591. The company has a quick ratio of 0.52, a current ratio of 1.10 and a debt-to-equity ratio of 1.75. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.68 and a beta of 0.45. The company has a fifty day moving average price of $27.91 and a two-hundred day moving average price of $30.14. Albertsons Companies has a 1-year low of $23.14 and a 1-year high of $37.99.

Albertsons Companies (NYSE:ACI – Get Rating) last announced its earnings results on Tuesday, July 26th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. Albertsons Companies had a net margin of 2.24% and a return on equity of 63.97%. The firm had revenue of $23.31 billion for the quarter, compared to the consensus estimate of $22.77 billion. During the same period in the prior year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Albertsons Companies will post 2.74 earnings per share for the current fiscal year.

Albertsons Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Tuesday, July 26th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, July 25th. Albertsons Companies’s dividend payout ratio is currently 16.61%.

Insiders Place Their Bets

In other news, CAO Robert Bruce Larson sold 35,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $26.79, for a total value of $937,650.00. Following the completion of the transaction, the chief accounting officer now owns 80,241 shares in the company, valued at approximately $2,149,656.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Albertsons Companies news, CAO Robert Bruce Larson sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $26.79, for a total transaction of $937,650.00. Following the sale, the chief accounting officer now directly owns 80,241 shares of the company’s stock, valued at approximately $2,149,656.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Evan Rainwater sold 25,242 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $27.38, for a total transaction of $691,125.96. Following the completion of the sale, the executive vice president now directly owns 19,691 shares in the company, valued at $539,139.58. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Utah Retirement Systems raised its position in Albertsons Companies by 256.8% in the first quarter. Utah Retirement Systems now owns 28,900 shares of the company’s stock worth $961,000 after acquiring an additional 20,800 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in shares of Albertsons Companies by 29.0% during the first quarter. Graham Capital Management L.P. now owns 27,920 shares of the company’s stock worth $928,000 after buying an additional 6,271 shares during the last quarter. Echo Street Capital Management LLC acquired a new position in shares of Albertsons Companies in the first quarter valued at $687,000. Citigroup Inc. raised its stake in Albertsons Companies by 18.1% during the first quarter. Citigroup Inc. now owns 20,486 shares of the company’s stock worth $681,000 after acquiring an additional 3,145 shares in the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of Albertsons Companies by 10.8% during the first quarter. Synovus Financial Corp now owns 12,495 shares of the company’s stock worth $413,000 after purchasing an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 62.12% of the company’s stock.

Albertsons Companies Company Profile

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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.