Voya Investment Management LLC raised its position in shares of Rite Aid Co. (NYSE:RAD) by 22.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 406,267 shares of the company’s stock after purchasing an additional 75,034 shares during the period. Voya Investment Management LLC’s holdings in Rite Aid were worth $703,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. NEXT Financial Group Inc boosted its stake in Rite Aid by 62.5% during the 1st quarter. NEXT Financial Group Inc now owns 73,850 shares of the company’s stock valued at $124,000 after purchasing an additional 28,400 shares during the period. Rhumbline Advisers boosted its stake in Rite Aid by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 1,096,828 shares of the company’s stock valued at $1,898,000 after purchasing an additional 30,154 shares during the period. Xact Kapitalforvaltning AB boosted its stake in Rite Aid by 24.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 180,143 shares of the company’s stock valued at $312,000 after purchasing an additional 35,100 shares during the period. GSA Capital Partners LLP acquired a new position in Rite Aid during the 2nd quarter valued at about $105,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Rite Aid during the 2nd quarter valued at about $108,000. 55.58% of the stock is owned by hedge funds and other institutional investors.
NYSE RAD opened at $1.06 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.94 and a current ratio of 1.62. Rite Aid Co. has a 12 month low of $1.02 and a 12 month high of $2.55. The company has a market capitalization of $1.36 billion, a P/E ratio of -53.00 and a beta of 1.66.
Rite Aid (NYSE:RAD) last released its earnings results on Thursday, September 27th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Rite Aid had a net margin of 3.26% and a negative return on equity of 1.97%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, research analysts expect that Rite Aid Co. will post -0.02 EPS for the current fiscal year.
A number of research analysts have issued reports on RAD shares. Zacks Investment Research lowered shares of Rite Aid from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Goldman Sachs Group started coverage on shares of Rite Aid in a research note on Thursday, September 6th. They issued a “sell” rating and a $1.00 price target for the company. Royal Bank of Canada set a $1.00 price target on shares of Rite Aid and gave the stock a “hold” rating in a research note on Monday, September 24th. Loop Capital set a $1.00 price target on shares of Rite Aid and gave the stock a “hold” rating in a research note on Friday, September 28th. Finally, Mizuho reaffirmed a “hold” rating and issued a $2.00 price target on shares of Rite Aid in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $2.16.
About Rite Aid
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
Featured Article: Buyback For Investors Defined
Want to see what other hedge funds are holding RAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rite Aid Co. (NYSE:RAD).
Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.