Rite Aid Corporation (RAD) Holdings Increased by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in shares of Rite Aid Corporation (NYSE:RAD) by 20.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,094 shares of the company’s stock after purchasing an additional 17,900 shares during the period. Prudential Financial Inc.’s holdings in Rite Aid Corporation were worth $307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smithfield Trust Co. increased its position in shares of Rite Aid Corporation by 37.8% during the second quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock worth $111,000 after purchasing an additional 10,330 shares in the last quarter. Comerica Bank increased its position in shares of Rite Aid Corporation by 9.2% during the second quarter. Comerica Bank now owns 44,460 shares of the company’s stock worth $111,000 after purchasing an additional 3,753 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Rite Aid Corporation by 31.1% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 40,000 shares of the company’s stock worth $118,000 after purchasing an additional 9,500 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Rite Aid Corporation by 24.4% during the first quarter. Nordea Investment Management AB now owns 29,061 shares of the company’s stock worth $124,000 after purchasing an additional 5,706 shares in the last quarter. Finally, Geneva Advisors LLC increased its position in shares of Rite Aid Corporation by 6.5% during the second quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock worth $127,000 after purchasing an additional 2,616 shares in the last quarter. Institutional investors and hedge funds own 52.62% of the company’s stock.

In other Rite Aid Corporation news, Director Myrtle S. Potter sold 28,189 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total value of $58,915.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.29% of the company’s stock.

Rite Aid Corporation (NYSE RAD) opened at 1.65 on Friday. Rite Aid Corporation has a 12 month low of $1.63 and a 12 month high of $8.77. The company has a 50-day moving average price of $2.27 and a 200 day moving average price of $3.05. The firm has a market cap of $1.73 billion, a PE ratio of 19.64 and a beta of 1.79.

Rite Aid Corporation (NYSE:RAD) last issued its earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ 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 firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.83 billion. During the same quarter last year, the company posted $0.03 earnings per share. Rite Aid Corporation’s revenue was down 4.4% on a year-over-year basis. Equities research analysts anticipate that Rite Aid Corporation will post $0.92 EPS for the current year.

A number of analysts have recently commented on RAD shares. Zacks Investment Research cut Rite Aid Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 4th. Royal Bank Of Canada started coverage on Rite Aid Corporation in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $2.50 target price on the stock. Bank of America Corporation reiterated an “underperform” rating and set a $2.00 target price on shares of Rite Aid Corporation in a research report on Friday, June 30th. Mizuho cut Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price on the stock. in a research report on Thursday, July 20th. Finally, Loop Capital started coverage on Rite Aid Corporation in a research report on Monday, September 11th. They set a “hold” rating and a $2.50 target price on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Rite Aid Corporation presently has an average rating of “Hold” and an average target price of $3.73.

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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.

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

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