California State Teachers Retirement System lessened its holdings in shares of Rite Aid Corporation (NYSE:RAD) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,410,303 shares of the company’s stock after selling 133,608 shares during the period. California State Teachers Retirement System owned 0.23% of Rite Aid Corporation worth $7,110,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in RAD. Geneva Advisors LLC grew its stake in shares of Rite Aid Corporation by 6.5% in the 2nd quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock valued at $127,000 after buying an additional 2,616 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Rite Aid Corporation by 8.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 38,900 shares of the company’s stock worth $115,000 after acquiring an additional 2,900 shares during the last quarter. Comerica Bank lifted its holdings in shares of Rite Aid Corporation by 9.2% in the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock worth $111,000 after acquiring an additional 3,753 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Rite Aid Corporation by 1.4% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 314,155 shares of the company’s stock worth $927,000 after acquiring an additional 4,199 shares during the last quarter. Finally, Utah Retirement Systems lifted its holdings in shares of Rite Aid Corporation by 2.6% in the 2nd quarter. Utah Retirement Systems now owns 192,500 shares of the company’s stock worth $568,000 after acquiring an additional 4,800 shares during the last quarter. 52.97% of the stock is owned by institutional investors.
RAD has been the topic of several recent analyst reports. Royal Bank of Canada initiated coverage on shares of Rite Aid Corporation in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $2.50 price objective on the stock. Mizuho lowered shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price on the stock. in a report on Thursday, July 20th. Loop Capital started coverage on shares of Rite Aid Corporation in a report on Monday, September 11th. They set a “hold” rating and a $2.50 target price on the stock. Guggenheim reiterated a “neutral” rating and set a $2.00 target price on shares of Rite Aid Corporation in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.68.
In other Rite Aid Corporation news, Director Myrtle S. Potter sold 28,189 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total transaction of $58,915.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.29% of the company’s stock.
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Rite Aid Corporation (RAD) traded up $0.14 during midday trading on Friday, hitting $1.57. 30,369,201 shares of the company were exchanged, compared to its average volume of 27,871,166. The company has a current ratio of 1.74, a quick ratio of 0.77 and a debt-to-equity ratio of 9.71. Rite Aid Corporation has a 1 year low of $1.38 and a 1 year high of $8.77.
Rite Aid Corporation (NYSE:RAD) last posted its earnings results on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Rite Aid Corporation had a net margin of 0.28% and a negative return on equity of 7.51%. The firm had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.83 billion. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was down 4.4% on a year-over-year basis. research analysts forecast that Rite Aid Corporation will post -0.1 EPS for the current fiscal year.
Rite Aid Corporation Company Profile
Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.
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