With Americans eating more meals at home, supermarkets are among the few traditional retailers to thrive, and
Cos., the nation’s fourth-largest grocer, is no exception.
Since the pandemic began in March, the owner of the Safeway and Acme supermarket chains has had sales growth of more than 20% and ample profits. Its stock is a different matter. The company went public in late June at $16 a share, and the stock has since fallen to around $13.
Now is the time to bag these marked-down shares. Albertsons (ticker: ACI) trades at a discount to virtually every company in the grocery business, including dollar stores like
(DG) and the largest food vendor,
Albertsons also has an improving outlook and a dynamic CEO in Vivek Sankaran, who joined in 2019 from
(PEP), where he headed the North American food business.
“We’re undervalued relative to our cash