Capstone Asset Management Co. increased its stake in Rite Aid Corp. (NYSE:RAD) by 10.2% during the third quarter, Holdings Channel reports. The fund owned 23,850 shares of the company’s stock after buying an additional 2,200 shares during the period. Capstone Asset Management Co.’s holdings in Rite Aid Corp. were worth $183,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp increased its position in Rite Aid Corp. by 34.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 1,062,100 shares of the company’s stock valued at $8,656,000 after buying an additional 272,500 shares during the period. 1832 Asset Management L.P. increased its position in Rite Aid Corp. by 105.1% in the first quarter. 1832 Asset Management L.P. now owns 7,610,000 shares of the company’s stock valued at $103,865,000 after buying an additional 3,900,000 shares during the period. Canada Pension Plan Investment Board increased its position in Rite Aid Corp. by 322.5% in the first quarter. Canada Pension Plan Investment Board now owns 600,400 shares of the company’s stock valued at $4,893,000 after buying an additional 458,300 shares during the period. Credit Agricole S A increased its position in Rite Aid Corp. by 86.4% in the first quarter. Credit Agricole S A now owns 1,615,829 shares of the company’s stock valued at $13,170,000 after buying an additional 749,148 shares during the period. Finally, Columbia Partners L L C Investment Management purchased a new position in Rite Aid Corp. during the first quarter valued at about $732,000. Institutional investors own 63.13% of the company’s stock.
Shares of Rite Aid Corp. (NYSE:RAD) opened at 7.14 on Thursday. The firm has a 50-day moving average price of $7.74 and a 200 day moving average price of $7.67. The stock has a market cap of $7.46 billion, a PE ratio of 55.35 and a beta of 1.77. Rite Aid Corp. has a 12-month low of $6.02 and a 12-month high of $8.74.
Rite Aid Corp. (NYSE:RAD) last released its quarterly earnings results on Thursday, September 22nd. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Rite Aid Corp. had a return on equity of 32.41% and a net margin of 0.41%. The company earned $8 million during the quarter. During the same period in the previous year, the company posted $0.02 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts predict that Rite Aid Corp. will post $0.14 EPS for the current fiscal year.
Several research analysts have recently issued reports on RAD shares. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Rite Aid Corp. in a research note on Friday, June 17th. Zacks Investment Research downgraded Rite Aid Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 20th. Finally, Vetr raised shares of Rite Aid Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Rite Aid Corp. presently has an average rating of “Hold” and an average price target 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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