Rite Aid Co. (RAD) Shares Bought by Stifel Financial Corp

Stifel Financial Corp boosted its stake in Rite Aid Co. (NYSE:RAD) by 17.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 536,366 shares of the company’s stock after acquiring an additional 78,805 shares during the quarter. Stifel Financial Corp owned 0.05% of Rite Aid worth $1,049,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in RAD. Dupont Capital Management Corp lifted its holdings in Rite Aid by 9.9% in the 2nd quarter. Dupont Capital Management Corp now owns 83,300 shares of the company’s stock valued at $246,000 after purchasing an additional 7,500 shares in the last quarter. Comerica Bank lifted its holdings in Rite Aid by 9.2% in the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after purchasing an additional 3,753 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Rite Aid in the 2nd quarter valued at $3,242,000. Geneva Advisors LLC lifted its holdings in Rite Aid by 6.5% in the 2nd quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock valued at $127,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Rite Aid by 20.8% in the 2nd quarter. Prudential Financial Inc. now owns 104,094 shares of the company’s stock valued at $307,000 after purchasing an additional 17,900 shares in the last quarter. 50.72% of the stock is currently owned by hedge funds and other institutional investors.

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

A number of research analysts have weighed in on RAD shares. Zacks Investment Research upgraded Rite Aid from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 29th. Loop Capital initiated coverage on Rite Aid in a report on Monday, September 11th. They set a “hold” rating and a $2.50 price target on the stock. Royal Bank of Canada initiated coverage on Rite Aid in a report on Tuesday, September 19th. They set a “sector perform” rating and a $2.50 price target on the stock. Guggenheim reiterated a “neutral” rating and set a $2.00 price target on shares of Rite Aid in a report on Monday, October 2nd. Finally, Mizuho reduced their price target on Rite Aid from $2.95 to $2.25 and set a “neutral” rating on the stock in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.25.

Rite Aid Co. (RAD) opened at $2.02 on Wednesday. The firm has a market capitalization of $2,150.00, a PE ratio of 25.25 and a beta of 1.80. The company has a debt-to-equity ratio of 9.71, a current ratio of 1.74 and a quick ratio of 0.77. Rite Aid Co. has a 52-week low of $1.38 and a 52-week high of $8.77.

Rite Aid (NYSE:RAD) last released its earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.83 billion. Rite Aid had a negative return on equity of 7.51% and a net margin of 0.28%. Rite Aid’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. equities research analysts anticipate that Rite Aid Co. will post -0.1 earnings per share for the current year.

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Rite Aid 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 (NYSE:RAD)

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