Rite Aid Co. (NYSE:RAD) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of Rite Aid Co. (NYSE:RAD) by 1.5% in the second quarter, Holdings Channel.com reports. The fund owned 82,651 shares of the company’s stock after selling 1,265 shares during the quarter. Rhumbline Advisers’ holdings in Rite Aid were worth $1,347,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RAD. Commonwealth Equity Services LLC lifted its position in shares of Rite Aid by 16.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 12,076 shares of the company’s stock valued at $247,000 after acquiring an additional 1,715 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Rite Aid during the 1st quarter valued at $781,000. Standard Life Aberdeen plc acquired a new stake in Rite Aid during the 1st quarter valued at $1,750,000. Swiss National Bank raised its stake in Rite Aid by 1.8% during the 1st quarter. Swiss National Bank now owns 126,190 shares of the company’s stock valued at $2,582,000 after purchasing an additional 2,200 shares during the period. Finally, BlackRock Inc. raised its stake in Rite Aid by 18.8% during the 1st quarter. BlackRock Inc. now owns 5,005,045 shares of the company’s stock valued at $102,402,000 after purchasing an additional 793,118 shares during the period. Institutional investors own 56.03% of the company’s stock.

Shares of NYSE:RAD opened at $14.70 on Friday. The stock has a market capitalization of $809.78 million, a PE ratio of -19.60 and a beta of 0.86. Rite Aid Co. has a 1 year low of $8.85 and a 1 year high of $32.48. The firm has a fifty day moving average price of $16.11 and a 200 day moving average price of $18.19. The company has a current ratio of 1.35, a quick ratio of 0.67 and a debt-to-equity ratio of 5.02.

Rite Aid (NYSE:RAD) last issued its quarterly earnings data on Wednesday, September 22nd. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.07. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Rite Aid had a negative net margin of 0.17% and a positive return on equity of 2.35%. Rite Aid’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Rite Aid Co. will post -0.8 earnings per share for the current fiscal year.

In related news, VP Jocelyn Z. Konrad sold 28,384 shares of the company’s stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $15.42, for a total value of $437,681.28. Following the completion of the sale, the vice president now directly owns 95,065 shares in the company, valued at $1,465,902.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.26% of the company’s stock.

RAD has been the topic of several recent analyst reports. TheStreet downgraded shares of Rite Aid from a “c-” rating to a “d+” rating in a research note on Wednesday, July 21st. JPMorgan Chase & Co. downgraded shares of Rite Aid from a “neutral” rating to an “underweight” rating and cut their target price for the company from $21.00 to $12.00 in a research note on Friday, June 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Rite Aid from $27.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, June 22nd. Finally, Zacks Investment Research raised shares of Rite Aid from a “sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research note on Tuesday, August 24th.

Rite Aid Profile

Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through following segments: Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics.

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

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