HRT Financial LLC acquired a new stake in shares of Rite Aid Co. (NYSE:RAD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 60,754 shares of the company’s stock, valued at approximately $105,000.

A number of other large investors have also recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Rite Aid by 21.9% during the first quarter. Franklin Resources Inc. now owns 51,310,675 shares of the company’s stock valued at $86,202,000 after acquiring an additional 9,213,475 shares in the last quarter. BlackRock Inc. lifted its position in Rite Aid by 1.9% during the first quarter. BlackRock Inc. now owns 43,767,426 shares of the company’s stock valued at $73,529,000 after purchasing an additional 813,790 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in Rite Aid by 20.2% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 22,604,480 shares of the company’s stock valued at $39,106,000 after purchasing an additional 3,797,936 shares during the last quarter. Alpine Associates Management Inc. lifted its position in Rite Aid by 35.0% during the second quarter. Alpine Associates Management Inc. now owns 13,514,200 shares of the company’s stock valued at $22,840,000 after purchasing an additional 3,502,400 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its position in Rite Aid by 11.5% during the second quarter. IndexIQ Advisors LLC now owns 7,863,047 shares of the company’s stock valued at $13,603,000 after purchasing an additional 812,530 shares during the last quarter. 55.58% of the stock is owned by institutional investors.

RAD has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Rite Aid from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Goldman Sachs Group initiated coverage on shares of Rite Aid in a research report on Thursday, September 6th. They set a “sell” rating and a $1.00 target price for the company. Cowen lowered shares of Rite Aid from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $2.35 to $6.00 in a research report on Monday, August 13th. Mizuho reiterated a “hold” rating and set a $2.00 target price on shares of Rite Aid in a research report on Thursday, August 9th. Finally, TheStreet lowered shares of Rite Aid from a “c-” rating to a “d” rating in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Rite Aid has a consensus rating of “Hold” and an average price target of $2.37.

Shares of Rite Aid stock opened at $1.25 on Monday. Rite Aid Co. has a 1 year low of $1.23 and a 1 year high of $2.55. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -62.50 and a beta of 1.83. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.49 and a quick ratio of 0.85.

Rite Aid (NYSE:RAD) last announced its quarterly earnings data on Wednesday, June 27th. The company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.32 billion. Rite Aid had a net margin of 5.18% and a negative return on equity of 2.88%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. equities research analysts predict that Rite Aid Co. will post -0.02 earnings per share for the current fiscal 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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Institutional Ownership by Quarter for Rite Aid (NYSE:RAD)

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