OppenheimerFunds Inc. Buys 30,008,199 Shares of Rite Aid Co. (RAD)

OppenheimerFunds Inc. boosted its stake in Rite Aid Co. (NYSE:RAD) by 131.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,907,179 shares of the company’s stock after purchasing an additional 30,008,199 shares during the period. OppenheimerFunds Inc.’s holdings in Rite Aid were worth $104,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RAD. Advisor Group Inc. increased its holdings in Rite Aid by 49.8% in the second quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock valued at $101,000 after purchasing an additional 12,140 shares during the period. Dimensional Fund Advisors LP increased its holdings in Rite Aid by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,772,210 shares of the company’s stock valued at $8,177,000 after purchasing an additional 11,385 shares during the period. Verition Fund Management LLC acquired a new stake in Rite Aid in the second quarter valued at $120,000. First Trust Advisors LP acquired a new stake in Rite Aid in the third quarter valued at $5,050,000. Finally, Leisure Capital Management acquired a new stake in Rite Aid in the third quarter valued at $353,000. Institutional investors and hedge funds own 51.68% of the company’s stock.

Shares of Rite Aid Co. (NYSE:RAD) opened at $2.09 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.59 and a debt-to-equity ratio of 3.66. The company has a market cap of $2,230.00, a price-to-earnings ratio of 19.00 and a beta of 1.76. Rite Aid Co. has a 1 year low of $1.38 and a 1 year high of $6.04.

RAD has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on shares of Rite Aid in a research report on Thursday, January 4th. They set an “underperform” rating and a $1.50 price target on the stock. Zacks Investment Research cut shares of Rite Aid from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Vetr cut shares of Rite Aid from a “strong-buy” rating to a “buy” rating and set a $2.47 price target on the stock. in a research report on Thursday, January 11th. Finally, Deutsche Bank initiated coverage on shares of Rite Aid in a research report on Monday, December 4th. They set a “hold” rating and a $2.25 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $2.75.

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About Rite Aid

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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Institutional Ownership by Quarter for Rite Aid (NYSE:RAD)

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