Schwab Charles Investment Management Inc. reduced its stake in Rite Aid Corporation (NYSE:RAD) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,903,870 shares of the company’s stock after selling 626,174 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.28% of Rite Aid Corporation worth $8,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of RAD. BlackRock Inc. boosted its position in shares of Rite Aid Corporation by 4,995.0% in the 1st quarter. BlackRock Inc. now owns 50,473,198 shares of the company’s stock worth $214,510,000 after purchasing an additional 49,482,563 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Rite Aid Corporation by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 84,435,016 shares of the company’s stock worth $358,848,000 after purchasing an additional 3,420,318 shares in the last quarter. Credit Suisse AG boosted its position in shares of Rite Aid Corporation by 55.7% in the 1st quarter. Credit Suisse AG now owns 5,881,061 shares of the company’s stock worth $24,994,000 after purchasing an additional 2,103,701 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Rite Aid Corporation by 46.3% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 6,000,000 shares of the company’s stock worth $17,700,000 after purchasing an additional 1,900,000 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Rite Aid Corporation by 6.2% in the 1st quarter. State Street Corp now owns 20,138,093 shares of the company’s stock worth $85,585,000 after purchasing an additional 1,170,078 shares in the last quarter. 52.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. Cowen and Company reissued an “outperform” rating and issued a $4.70 price target on shares of Rite Aid Corporation in a research report on Monday, June 12th. Guggenheim reissued a “neutral” rating on shares of Rite Aid Corporation in a research report on Monday, July 3rd. Bank of America Corporation reissued an “underperform” rating and issued a $2.00 price target on shares of Rite Aid Corporation in a research report on Friday, June 30th. Evercore ISI assumed coverage on Rite Aid Corporation in a research report on Friday, June 30th. They issued an “underperform” rating and a $2.50 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on Rite Aid Corporation in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $2.50 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Rite Aid Corporation has an average rating of “Hold” and a consensus target price of $3.82.

Rite Aid Corporation (NYSE RAD) opened at 2.08 on Friday. The company has a 50-day moving average of $2.33 and a 200-day moving average of $3.15. The stock’s market capitalization is $2.18 billion. Rite Aid Corporation has a one year low of $1.90 and a one year high of $8.77.

Rite Aid Corporation (NYSE:RAD) last posted its quarterly earnings data on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Rite Aid Corporation had a net margin of 0.28% and a negative return on equity of 7.51%. The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts forecast that Rite Aid Corporation will post ($0.08) EPS for the current fiscal year.

In other news, Director Myrtle S. Potter sold 28,189 shares of Rite Aid Corporation stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total transaction of $58,915.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.29% of the company’s stock.

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Rite Aid Corporation 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.

Institutional Ownership by Quarter for Rite Aid Corporation (NYSE:RAD)

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