Smithfield Trust Co. raised its position in Rite Aid Corporation (NYSE:RAD) by 37.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,650 shares of the company’s stock after buying an additional 10,330 shares during the period. Smithfield Trust Co.’s holdings in Rite Aid Corporation were worth $111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position 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 during the period. BlackRock Inc. raised its position in shares of Rite Aid Corporation by 4,995.0% in the first quarter. BlackRock Inc. now owns 50,473,198 shares of the company’s stock worth $214,510,000 after buying an additional 49,482,563 shares during the period. State Street Corp raised its position in shares of Rite Aid Corporation by 6.2% in the first quarter. State Street Corp now owns 20,138,093 shares of the company’s stock worth $85,585,000 after buying an additional 1,170,078 shares during the period. APG Asset Management N.V. raised its position in shares of Rite Aid Corporation by 70.6% in the first quarter. APG Asset Management N.V. now owns 15,262,729 shares of the company’s stock worth $64,867,000 after buying an additional 6,315,600 shares during the period. Finally, Morgan Stanley raised its position in shares of Rite Aid Corporation by 14.9% in the first quarter. Morgan Stanley now owns 8,801,138 shares of the company’s stock worth $37,405,000 after buying an additional 1,143,809 shares during the period. Institutional investors own 56.38% of the company’s stock.

Rite Aid Corporation (NYSE RAD) opened at 2.35 on Thursday. Rite Aid Corporation has a 52 week low of $2.21 and a 52 week high of $8.77. The firm’s market capitalization is $2.46 billion. The company has a 50 day moving average price of $2.62 and a 200-day moving average price of $4.08.

Rite Aid Corporation (NYSE:RAD) last issued its earnings results on Thursday, June 29th. The company reported ($0.05) EPS 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 for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. Equities analysts predict that Rite Aid Corporation will post ($0.09) earnings per share for the current year.

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A number of research analysts have recently commented on RAD shares. Guggenheim lowered Rite Aid Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Zacks Investment Research lowered Rite Aid Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th. 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. 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, June 12th. Finally, Mizuho lowered Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price target for the company. in a report on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Rite Aid Corporation presently has an average rating of “Hold” and an average 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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Institutional Ownership by Quarter for Rite Aid Corporation (NYSE:RAD)

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