Albertsons Companies Inc (ACI) to Issue Quarterly Dividend of $0.10 on November 10th

Albertsons Companies Inc (NYSE:ACI) declared a quarterly dividend on Wednesday, October 14th, Zacks reports. Stockholders of record on Monday, October 26th will be paid a dividend of 0.10 per share on Tuesday, November 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, October 23rd.

Shares of ACI stock opened at $15.22 on Wednesday. Albertsons Companies has a 52-week low of $12.91 and a 52-week high of $16.50. The company has a quick ratio of 0.42, a current ratio of 1.06 and a debt-to-equity ratio of 7.10. The firm has a fifty day simple moving average of $13.80.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.33. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the company posted $0.17 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that Albertsons Companies will post 2.25 earnings per share for the current year.

In other Albertsons Companies news, CEO Vivek Sankaran bought 25,000 shares of Albertsons Companies stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $14.74 per share, with a total value of $368,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Davis bought 7,100 shares of Albertsons Companies stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $15.17 per share, for a total transaction of $107,707.00. Following the purchase, the director now directly owns 94,973 shares in the company, valued at approximately $1,440,740.41. The disclosure for this purchase can be found here.

A number of equities analysts have recently issued reports on ACI shares. Royal Bank of Canada began coverage on shares of Albertsons Companies in a research note on Tuesday, July 21st. They issued an “outperform” rating and a $19.00 price objective for the company. MKM Partners began coverage on shares of Albertsons Companies in a report on Wednesday, July 29th. They issued a “neutral” rating and a $17.00 target price on the stock. Zacks Investment Research raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, October 15th. Tigress Financial began coverage on shares of Albertsons Companies in a report on Friday, September 25th. They issued a “buy” rating on the stock. Finally, Citigroup began coverage on shares of Albertsons Companies in a report on Tuesday, July 21st. They issued a “buy” rating and a $22.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Albertsons Companies currently has a consensus rating of “Buy” and an average price target of $20.08.

About Albertsons Companies

Albertsons Companies, Inc, through its subsidiaries, operates as a food and drug retailer in the United States. Its 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 29, 2020, the company operated 2,252 stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Market Street, Pavilions, Star Market, Carrs, and Haggen; and 1,726 pharmacies, 1,290 in-store branded coffee shops, and 402 adjacent fuel centers.

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