Rite Aid Corporation (NYSE:RAD) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lifted its holdings in shares of Rite Aid Corporation (NYSE:RAD) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,451,956 shares of the company’s stock after buying an additional 2,900 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of Rite Aid Corporation worth $4,283,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capstone Asset Management Co. increased its position in shares of Rite Aid Corporation by 7.9% during the first quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock worth $110,000 after purchasing an additional 1,890 shares in the last quarter. Smithfield Trust Co. increased its position in shares of Rite Aid Corporation by 37.8% during the second quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock worth $111,000 after purchasing an additional 10,330 shares in the last quarter. Comerica Bank increased its position in shares of Rite Aid Corporation by 9.2% during the second quarter. Comerica Bank now owns 44,460 shares of the company’s stock worth $111,000 after purchasing an additional 3,753 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Rite Aid Corporation by 31.1% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 40,000 shares of the company’s stock worth $118,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Rite Aid Corporation by 24.4% during the first quarter. Nordea Investment Management AB now owns 29,061 shares of the company’s stock worth $124,000 after purchasing an additional 5,706 shares in the last quarter. 52.63% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on RAD. Loop Capital started coverage on Rite Aid Corporation in a research report on Monday. They set a “hold” rating and a $2.50 price target for the company. Zacks Investment Research upgraded Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 29th. Mizuho cut Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price for the company. in a report on Thursday, July 20th. Guggenheim restated a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Finally, Cowen and Company restated an “outperform” rating and issued a $4.70 target price on shares of Rite Aid Corporation in a report on Monday, July 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Rite Aid Corporation currently has a consensus rating of “Hold” and an average price target of $4.28.

Rite Aid Corporation (NYSE:RAD) opened at 2.50 on Friday. Rite Aid Corporation has a 1-year low of $2.21 and a 1-year high of $8.77. The firm’s market cap is $2.62 billion. The company’s 50-day moving average price is $2.35 and its 200 day moving average price is $3.46.

Rite Aid Corporation (NYSE:RAD) last announced its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The business had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the business earned $0.02 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities analysts expect that Rite Aid Corporation will post ($0.10) earnings per share for the current fiscal year.

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About Rite Aid Corporation

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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