JPMorgan Chase & Co. lowered its stake in shares of Rite Aid Co. (NYSE:RAD) by 82.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 324,996 shares of the company’s stock after selling 1,510,281 shares during the period. JPMorgan Chase & Co.’s holdings in Rite Aid were worth $659,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RAD. Comerica Bank lifted its holdings in shares of Rite Aid by 9.2% during the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after purchasing an additional 3,753 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Rite Aid by 20.8% during the 2nd quarter. Prudential Financial Inc. now owns 104,094 shares of the company’s stock valued at $307,000 after purchasing an additional 17,900 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Rite Aid by 26.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 100,886 shares of the company’s stock valued at $298,000 after purchasing an additional 21,190 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its holdings in shares of Rite Aid by 94.1% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 242,283 shares of the company’s stock valued at $715,000 after purchasing an additional 117,458 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Rite Aid by 15.8% during the 2nd quarter. Teachers Advisors LLC now owns 1,310,310 shares of the company’s stock valued at $3,865,000 after purchasing an additional 179,142 shares during the last quarter. Institutional investors own 50.72% of the company’s stock.

RAD has been the subject of several analyst reports. Zacks Investment Research upgraded Rite Aid from a “sell” rating to a “hold” rating in a report on Friday, November 17th. Deutsche Bank assumed coverage on Rite Aid in a report on Monday, December 4th. They set a “hold” rating and a $2.25 price objective for the company. Royal Bank of Canada set a $2.00 target price on Rite Aid and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Mizuho set a $2.00 target price on Rite Aid and gave the stock a “hold” rating in a research note on Saturday, October 7th. Finally, Evercore ISI assumed coverage on Rite Aid in a research note on Thursday, January 4th. They issued an “underperform” rating and a $1.50 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.74.

Rite Aid Co. (RAD) opened at $2.39 on Tuesday. The stock has a market capitalization of $2,540.00, a price-to-earnings ratio of 21.73 and a beta of 1.83. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.86 and a quick ratio of 0.59. Rite Aid Co. has a 52 week low of $1.38 and a 52 week high of $8.77.

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Rite Aid 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 (NYSE:RAD)

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