Albertsons Companies (NYSE:ACI) Sees Strong Trading Volume – Here’s What Happened

Albertsons Companies, Inc. (NYSE:ACI) saw unusually-strong trading volume on Thursday . Approximately 6,756,044 shares were traded during trading, an increase of 113% from the previous session’s volume of 3,164,452 shares.The stock last traded at $18.87 and had previously closed at $18.23.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACI shares. Morgan Stanley cut their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday. BMO Capital Markets cut their price target on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, October 16th. Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, October 21st. Bank of America assumed coverage on Albertsons Companies in a report on Friday. They issued a “neutral” rating and a $22.00 price objective on the stock. Finally, Tigress Financial reiterated a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Albertsons Companies Price Performance

The stock’s fifty day moving average price is $18.87 and its 200-day moving average price is $19.39. The firm has a market cap of $11.30 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22.

Albertsons Companies (NYSE:ACI) last released its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same period last year, the company posted $0.60 EPS. The business’s revenue was up 1.4% on a year-over-year basis. As a group, equities analysts expect that Albertsons Companies, Inc. will post 2.13 EPS for the current fiscal year.

Albertsons Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Monday, October 28th. Albertsons Companies’s payout ratio is presently 28.07%.

Institutional Trading of Albertsons Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Private Advisor Group LLC raised its position in Albertsons Companies by 4.4% in the third quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock valued at $240,000 after purchasing an additional 544 shares during the period. Verus Capital Partners LLC raised its holdings in shares of Albertsons Companies by 3.6% in the 2nd quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock valued at $322,000 after buying an additional 565 shares during the period. CIBC Asset Management Inc lifted its stake in Albertsons Companies by 4.9% during the 3rd quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock worth $357,000 after acquiring an additional 895 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Albertsons Companies by 1.6% during the 2nd quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after acquiring an additional 933 shares during the period. Finally, MRP Capital Investments LLC grew its position in Albertsons Companies by 2.7% in the 2nd quarter. MRP Capital Investments LLC now owns 45,055 shares of the company’s stock valued at $890,000 after acquiring an additional 1,185 shares in the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

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.