Streetbeat News

ACI

Albertsons Companies, Inc.

https://www.albertsonscompanies.com

Industry

Grocery Stores

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. As of February 26, 2022, it operated 2,276 stores under various banners, including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets, and Balducci's Food Lovers Market; and 1,722 pharmacies, 1,317 in-store branded coffee shops, 402 adjacent fuel centers, 22 distribution centers, and 20 manufacturing facilities, as well as various digital platforms. The company was founded in 1860 and is headquartered in Boise, Idaho.

Open

19.08

Mkt cap

11B

Volume

2.2M

High

19.14

P/E Ratio

11.04

52-wk high

23.47

Low

18.86

Div yield

0.03

52-wk low

17.80

The FTC is challenging the proposed $25 billion merger between Kroger and Albertsons, citing concerns over potential price increases for groceries. The FTC is also questioning the viability of C&S Wholesale Grocers' plan to acquire and manage over 500 stores from the merger. The trial is ongoing, with implications for grocery prices and market competition.

Portfolio Pulse from Michael Juliano

September 03, 2024 | 5:29 pm

Kenvue Inc. (NYSE:KVUE) successfully defended against a lawsuit claiming its Tylenol 'Rapid Release' gelcaps misled consumers. The court ruled in favor of Kenvue, citing FDA regulations. This decision reinforces FDA's authority over drug labeling.

Portfolio Pulse from Vandana Singh

August 30, 2024 | 5:47 pm

Kroger has filed a legal motion against the FTC, claiming its merger review process with Albertsons is unconstitutional. The company argues that the FTC's dual tribunal approach violates constitutional protections. The merger, valued at $25 billion, faces antitrust challenges over concerns of higher grocery prices. Kroger is also offering private exchange offers for Albertsons' notes.

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 12:26 pm

Kroger has filed a lawsuit against the U.S. Federal Trade Commission (FTC) to prevent an in-house review of its proposed acquisition of Albertsons. This legal action is a significant step in Kroger's efforts to finalize the deal, which has faced regulatory scrutiny.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 6:36 pm

Kroger Co. (NYSE: KR) has initiated private exchange offers for Albertsons Companies, Inc. (NYSE: ACI) notes, aiming to swap up to $7.44 billion in new Kroger notes and cash. The company also plans to cut grocery prices by $1 billion following its $25 billion merger with Albertsons, which is currently facing antitrust lawsuits. The merger, announced in October 2022, aims to create a grocery giant with over 4,000 stores but is paused pending a Colorado District Court ruling. Kroger's Q1 adjusted EPS surpassed expectations, and investors can gain exposure via Invesco Food & Beverage ETF (NYSE: PBJ) and Tidal ETF Trust Newday Ocean Health ETF (NYSE: AHOY).

Portfolio Pulse from Lekha Gupta

August 16, 2024 | 10:22 am

July inflation data shows a modest 0.1% increase in the food-at-home index, with a notable 5.5% rise in egg prices. This has impacted the broader meats, poultry, fish, and eggs category, which saw a 0.7% increase. Other food categories like fruits and vegetables, and nonalcoholic beverages also saw price hikes, while cereals, bakery products, and dairy products experienced slight declines. The food-away-from-home category saw a 0.2% increase. Stocks to watch include Kroger, Costco, Target, Albertsons, and Sprouts Farmers Market, which may benefit from ongoing consumer spending on groceries.

Portfolio Pulse from Henry Khederian

August 15, 2024 | 7:43 pm

Kroger has doubled its price cuts for Albertsons stores to $1 billion in an effort to secure approval for their $24.6 billion merger.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 7:38 pm

Instacart (NASDAQ:CART) and Albertsons Companies (NYSE:ACI) have expanded their partnership to launch Instacart pickup services and Albertsons Rapid convenience delivery nationwide. This includes banners such as Safeway, Albertsons, Shaw's, ACME, Jewel-Osco, Randalls, and Vons. Haggen Food & Pharmacy is also now available for same-day delivery via the Instacart App.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 1:06 pm

Kroger and Albertsons have agreed to delay their $25 billion merger for a September trial after a Colorado judge temporarily halted the deal. The Colorado Attorney General has sued to block the merger.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 2:16 pm

Telsey Advisory Group has maintained its Market Perform rating on Albertsons Companies (NYSE:ACI) with a price target of $27.25.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 9:01 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.