Albertsons Companies (NYSE:ACI) Shares Gap Down – Here’s What Happened

Albertsons Companies, Inc. (NYSE:ACI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $21.57, but opened at $20.60. Albertsons Companies shares last traded at $20.11, with a volume of 2,436,726 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on ACI. Citigroup began coverage on shares of Albertsons Companies in a report on Friday, January 24th. They set a “buy” rating and a $26.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Albertsons Companies in a research note on Thursday, April 3rd. Telsey Advisory Group reiterated an “outperform” rating and set a $26.00 target price on shares of Albertsons Companies in a research report on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price target on shares of Albertsons Companies in a research report on Tuesday, February 4th. Finally, Evercore ISI increased their price objective on shares of Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Albertsons Companies has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Price Performance

The company has a 50-day moving average of $21.18 and a two-hundred day moving average of $19.92. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. The stock has a market capitalization of $11.63 billion, a PE ratio of 11.28, a P/E/G ratio of 1.92 and a beta of 0.47.

Albertsons Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.99%. Albertsons Companies’s dividend payout ratio is presently 33.71%.

Hedge Funds Weigh In On Albertsons Companies

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in shares of Albertsons Companies in the 3rd quarter worth $324,000. Geode Capital Management LLC lifted its stake in shares of Albertsons Companies by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,063,266 shares of the company’s stock valued at $167,229,000 after purchasing an additional 592,711 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Albertsons Companies by 42.8% during the 3rd quarter. Toronto Dominion Bank now owns 47,561 shares of the company’s stock worth $879,000 after purchasing an additional 14,266 shares during the period. Te Ahumairangi Investment Management Ltd increased its position in Albertsons Companies by 8.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company’s stock worth $5,929,000 after purchasing an additional 25,868 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in Albertsons Companies by 10.0% in the third quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock valued at $244,000 after buying an additional 1,197 shares during the period. Hedge funds and other institutional investors own 71.35% of the company’s stock.

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.