Strs Ohio increased its stake in Rite Aid Co. (NYSE:RAD – Get Rating) by 3,914.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,200 shares of the company’s stock after purchasing an additional 54,800 shares during the period. Strs Ohio owned approximately 0.10% of Rite Aid worth $491,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Citigroup Inc. increased its position in shares of Rite Aid by 19.8% in the fourth quarter. Citigroup Inc. Now owns 113,285 shares of the company’s stock shares worth $1,664,000 after purchasing an additional 18,686 during the last quarter. ProShare Advisors LLC purchased a new stake in Rite Aid in the fourth quarter worth approximately $180,000. National Bank of Canada FI purchased a new stake in Rite Aid in the fourth quarter worth approximately $38,000. Hussman Strategic Advisors Inc. A new stake in Rite Aid in the fourth quarter is worth approximately $1,146,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Rite Aid in the fourth quarter worth approximately $334,000. 65.68% of the stock is currently owned by institutional investors.
Rite Aid Stock Performance
NYSE:RAD opened at $6.70 on Monday. The firm has a market cap of $372.83 million, a PE ratio of -0.57 and a beta of 0.90. Rite Aid Co. has a fifty-two week low of $4.68 and a fifty-two week high of $19.22. The company has a debt-to-equity ratio of 27.75, a quick ratio of 0.56 and a current ratio of 1.26. The business has a 50 day moving average price of $6.30 and a 200-day moving average price of $8.45.
Rite Aid (NYSE:RAD – Get Rating) last announced its earnings results on Thursday, June 23rd. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.10. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.73 billion. Rite Aid had a negative return on equity of 50.63% and a negative net margin of 2.60%. Equities research analysts predict that Rite Aid Co. will post -0.91 earnings per share for the current year.
Wall Street Analysts Forecast Growth
RAD has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their target price on Rite Aid from $2.00 to $4.00 in a research note on Friday, June 3rd. StockNews.com raised Rite Aid from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th.
Rite Aid Profile
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and provides various other pharmacy services and an assortment of products comprising over-the-counter medications, health and beauty aids, personal care products, seasonal merchandise, cosmetics, household items, food and beverages, greeting cards, seasonal and general merchandise, pet care, and a variety of other everyday and convenience products, as well as brand and generic prescription drugs; and a private brand product line.
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