JPMorgan Chase & Co. Has Lowered Expectations for Albertsons Companies (NYSE:ACI) Stock Price

Albertsons Companies (NYSE:ACI) had its target price trimmed by JPMorgan Chase & Co. from $31.00 to $29.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on ACI. Evercore ISI reduced their price target on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Thursday, April 17th. Roth Capital reissued a “buy” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Albertsons Companies in a report on Wednesday, July 16th. Wall Street Zen downgraded Albertsons Companies from a “buy” rating to a “hold” rating in a report on Friday, July 18th. BMO Capital Markets raised Albertsons Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $19.00 to $25.00 in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Albertsons Companies in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.06.

Albertsons Companies Trading Down 2.6%

NYSE:ACI opened at $20.01 on Wednesday. Albertsons Companies has a twelve month low of $17.00 and a twelve month high of $23.20. The company has a quick ratio of 0.18, a current ratio of 0.82 and a debt-to-equity ratio of 2.17. The business has a 50 day moving average price of $21.56 and a two-hundred day moving average price of $21.24. The company has a market cap of $11.20 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 2.08 and a beta of 0.44.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, July 15th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Albertsons Companies had a return on equity of 37.92% and a net margin of 1.18%. The firm had revenue of $24.88 billion during the quarter, compared to the consensus estimate of $24.68 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The business’s revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that Albertsons Companies will post 2.14 EPS 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. Investors of record on Friday, July 25th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, July 25th. Albertsons Companies’s dividend payout ratio (DPR) is presently 36.59%.

Insiders Place Their Bets

In related news, EVP Omer Gajial sold 47,303 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $21.46, for a total value of $1,015,122.38. Following the sale, the executive vice president owned 162,569 shares in the company, valued at approximately $3,488,730.74. This represents a 22.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Albertsons Companies

A number of large investors have recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC raised its stake in Albertsons Companies by 0.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 83,260 shares of the company’s stock valued at $1,791,000 after acquiring an additional 623 shares during the period. Sequoia Financial Advisors LLC bought a new position in Albertsons Companies during the 2nd quarter worth $527,000. RHS Financial LLC bought a new position in Albertsons Companies during the 2nd quarter worth $427,000. Vanguard Personalized Indexing Management LLC increased its position in Albertsons Companies by 15.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 61,611 shares of the company’s stock worth $1,325,000 after buying an additional 8,293 shares during the period. Finally, Aberdeen Group plc increased its position in Albertsons Companies by 29.9% during the 2nd quarter. Aberdeen Group plc now owns 15,969 shares of the company’s stock worth $343,000 after buying an additional 3,677 shares during the period. Institutional investors own 71.35% 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. It also manufactures and processes food products for sale in stores.