Rite Aid Corporation (RAD) Stake Lessened by Ameriprise Financial Inc.
Ameriprise Financial Inc. lessened its stake in Rite Aid Corporation (NYSE:RAD) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,448 shares of the company’s stock after selling 12,054 shares during the quarter. Ameriprise Financial Inc.’s holdings in Rite Aid Corporation were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Smithfield Trust Co. increased its holdings in Rite Aid Corporation by 37.8% in the 2nd quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock worth $111,000 after buying an additional 10,330 shares in the last quarter. Comerica Bank increased its holdings in 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 buying an additional 3,753 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in 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 buying an additional 2,900 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Rite Aid Corporation by 31.1% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 40,000 shares of the company’s stock worth $118,000 after buying an additional 9,500 shares in the last quarter. Finally, Geneva Advisors LLC increased its holdings in Rite Aid Corporation by 6.5% in the 2nd quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock worth $127,000 after buying an additional 2,616 shares in the last quarter. 53.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Rite Aid Corporation (NYSE:RAD) opened at $1.57 on Monday. Rite Aid Corporation has a 52 week low of $1.38 and a 52 week high of $8.77. 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 (NYSE:RAD) last released its quarterly earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.83 billion. Rite Aid Corporation had a negative return on equity of 7.51% and a net margin of 0.28%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. equities research analysts anticipate that Rite Aid Corporation will post -0.1 earnings per share for the current fiscal year.
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In related news, Director Myrtle S. Potter sold 28,189 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.29% of the company’s stock.
Several equities research analysts recently commented on the company. Royal Bank Of Canada set a $2.00 price objective on Rite Aid Corporation and gave the stock a “hold” rating in a report on Wednesday, October 25th. Mizuho set a $2.00 price objective on Rite Aid Corporation and gave the stock a “hold” rating in a report on Saturday, October 7th. Zacks Investment Research downgraded Rite Aid Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Guggenheim reiterated a “neutral” rating and issued a $2.00 price objective on shares of Rite Aid Corporation in a report on Monday, October 2nd. Finally, Loop Capital reiterated a “hold” rating and issued a $2.00 price objective (down from $2.50) on shares of Rite Aid Corporation in a report on Friday, September 29th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Rite Aid Corporation currently has an average rating of “Hold” and a consensus price target of $3.68.
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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