Rhumbline Advisers Buys 30,154 Shares of Rite Aid Co. (RAD)
Rhumbline Advisers increased its holdings in shares of Rite Aid Co. (NYSE:RAD) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,096,828 shares of the company’s stock after buying an additional 30,154 shares during the period. Rhumbline Advisers owned about 0.10% of Rite Aid worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Destination Wealth Management lifted its position in shares of Rite Aid by 5,513.1% during the 2nd quarter. Destination Wealth Management now owns 65,000 shares of the company’s stock valued at $112,000 after buying an additional 63,842 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Rite Aid by 62.5% during the 1st quarter. NEXT Financial Group Inc now owns 73,850 shares of the company’s stock valued at $124,000 after buying an additional 28,400 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Rite Aid during the 1st quarter valued at approximately $134,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Rite Aid by 377.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 95,000 shares of the company’s stock valued at $160,000 after buying an additional 75,100 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Rite Aid by 597.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 130,905 shares of the company’s stock valued at $226,000 after buying an additional 112,125 shares in the last quarter. Hedge funds and other institutional investors own 55.60% of the company’s stock.
RAD has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating and set a $2.35 target price on shares of Rite Aid in a research report on Thursday, June 28th. TheStreet lowered Rite Aid from a “c-” rating to a “d” rating in a research report on Wednesday, August 8th. Mizuho restated a “hold” rating and issued a $2.00 price objective on shares of Rite Aid in a report on Thursday, August 9th. Zacks Investment Research lowered Rite Aid from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Goldman Sachs Group started coverage on Rite Aid in a report on Thursday, September 6th. They issued a “sell” rating and a $1.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $2.37.
Rite Aid (NYSE:RAD) last issued its earnings results on Wednesday, June 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Rite Aid had a negative return on equity of 2.88% and a net margin of 5.18%. The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the company earned ($0.05) EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. equities research analysts predict that Rite Aid Co. will post -0.02 earnings per share for the current year.
About Rite Aid
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
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