Vanguard Group Inc. increased its position in shares of Rite Aid Corp. (NYSE:RAD) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,940,721 shares of the company’s stock after buying an additional 2,621,953 shares during the period. Vanguard Group Inc. owned approximately 7.28% of Rite Aid Corp. worth $568,796,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concorde Asset Management LLC bought a new position in shares of Rite Aid Corp. during the second quarter worth approximately $102,000. Buckingham Asset Management LLC bought a new position in shares of Rite Aid Corp. during the second quarter worth approximately $121,000. Geneva Advisors LLC bought a new position in shares of Rite Aid Corp. during the second quarter worth approximately $128,000. LS Investment Advisors LLC raised its position in shares of Rite Aid Corp. by 28.1% in the second quarter. LS Investment Advisors LLC now owns 18,450 shares of the company’s stock worth $138,000 after buying an additional 4,046 shares in the last quarter. Finally, Grimes & Company Inc. raised its position in shares of Rite Aid Corp. by 36.8% in the second quarter. Grimes & Company Inc. now owns 18,600 shares of the company’s stock worth $139,000 after buying an additional 5,000 shares in the last quarter. 63.13% of the stock is owned by institutional investors and hedge funds.
Shares of Rite Aid Corp. (NYSE:RAD) opened at 7.69 on Friday. The company has a market capitalization of $8.03 billion, a PE ratio of 59.61 and a beta of 1.78. The firm’s 50-day moving average is $7.79 and its 200 day moving average is $7.70. Rite Aid Corp. has a 52 week low of $5.98 and a 52 week high of $8.74.
Rite Aid Corp. (NYSE:RAD) last announced its earnings results on Thursday, September 22nd. The company reported $0.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The company earned $8 million during the quarter. Rite Aid Corp. had a net margin of 0.41% and a return on equity of 32.41%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. On average, analysts anticipate that Rite Aid Corp. will post $0.14 earnings per share for the current fiscal year.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Rite Aid Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Vetr raised shares of Rite Aid Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Rite Aid Corp. in a research report on Friday, June 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Rite Aid Corp. currently has a consensus rating of “Hold” and an average target price of $9.11.
Rite Aid Corp. 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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