Atlas Brown Inc. raised its stake in Rite Aid Corporation (NYSE:RAD) by 43.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 103,000 shares of the company’s stock after buying an additional 31,000 shares during the period. Atlas Brown Inc.’s holdings in Rite Aid Corporation were worth $304,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Rite Aid Corporation during the first quarter worth $322,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Rite Aid Corporation by 8.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 58,242 shares of the company’s stock worth $248,000 after buying an additional 4,601 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Rite Aid Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 84,435,016 shares of the company’s stock worth $358,848,000 after buying an additional 3,420,318 shares in the last quarter. Beach Point Capital Management LP bought a new stake in shares of Rite Aid Corporation during the first quarter worth $4,386,000. Finally, Macquarie Group Ltd. raised its stake in shares of Rite Aid Corporation by 125.3% in the fourth quarter. Macquarie Group Ltd. now owns 22,300 shares of the company’s stock worth $184,000 after buying an additional 12,400 shares in the last quarter. 56.38% of the stock is currently owned by institutional investors.
Rite Aid Corporation (NYSE:RAD) traded up 2.67% during trading on Friday, reaching $2.31. 14,484,308 shares of the company traded hands. The firm’s 50 day moving average price is $2.57 and its 200 day moving average price is $4.03. The firm’s market capitalization is $2.42 billion. Rite Aid Corporation has a 12-month low of $2.21 and a 12-month high of $8.77.
Rite Aid Corporation (NYSE:RAD) last issued its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The business had revenue of $7.78 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company posted $0.02 EPS. Rite Aid Corporation’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts expect that Rite Aid Corporation will post ($0.09) earnings per share for the current year.
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A number of analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Rite Aid Corporation in a research report on Friday, June 30th. They issued an “underperform” rating and a $2.50 target price on the stock. Mizuho lowered shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price target on the stock. in a report on Thursday, July 20th. Bank of America Corporation reiterated an “underperform” rating and set a $2.00 price target on shares of Rite Aid Corporation in a report on Friday, June 30th. Guggenheim reiterated a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Finally, Cowen and Company reiterated an “outperform” rating and set a $4.70 price target on shares of Rite Aid Corporation in a report on Monday, July 3rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.53.
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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