Rite Aid Corporation (RAD) Stake Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its position in shares of Rite Aid Corporation (NYSE:RAD) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,100,000 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.58% of Rite Aid Corporation worth $11,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Rite Aid Corporation by 4.2% during the first 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. Atlas Brown Inc. boosted its position in shares of Rite Aid Corporation by 43.1% during the second quarter. Atlas Brown Inc. now owns 103,000 shares of the company’s stock worth $304,000 after purchasing an additional 31,000 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Rite Aid Corporation by 100.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,412,603 shares of the company’s stock worth $15,967,000 after purchasing an additional 2,711,300 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Rite Aid Corporation by 71.5% during the second quarter. Stifel Financial Corp now owns 457,561 shares of the company’s stock worth $1,343,000 after purchasing an additional 190,731 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Rite Aid Corporation by 7.7% during the second quarter. California Public Employees Retirement System now owns 2,402,933 shares of the company’s stock worth $7,089,000 after purchasing an additional 171,800 shares in the last quarter. 53.10% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Rite Aid Corporation in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $2.50 price target on the stock. Loop Capital reissued a “hold” rating and set a $2.00 price target (down from $2.50) on shares of Rite Aid Corporation in a research report on Friday, September 29th. Guggenheim reissued a “neutral” rating and set a $2.00 price target on shares of Rite Aid Corporation in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Rite Aid Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, Mizuho reduced their price target on shares of Rite Aid Corporation from $2.95 to $2.25 and set a “neutral” rating on the stock in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $3.68.

Shares of Rite Aid Corporation (RAD) opened at 1.65 on Tuesday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 19.64 and a beta of 1.79. Rite Aid Corporation has a one year low of $1.54 and a one year high of $8.77. The company’s 50 day moving average is $2.07 and its 200-day moving average is $2.79.

Rite Aid Corporation (NYSE:RAD) last posted its quarterly earnings data on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.83 billion. Rite Aid Corporation had a net margin of 0.28% and a negative return on equity of 7.51%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Equities analysts expect that Rite Aid Corporation will post ($0.08) EPS for the current year.

In related news, Director Myrtle S. Potter sold 28,189 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.29% of the stock is owned by corporate insiders.

Rite Aid Corporation 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.

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

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