Legal & General Group Plc raised its position in Rite Aid Co. (NYSE:RAD) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,429,210 shares of the company’s stock after purchasing an additional 101,474 shares during the quarter. Legal & General Group Plc owned approximately 0.22% of Rite Aid worth $1,721,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RAD. Virtu Financial LLC boosted its stake in shares of Rite Aid by 194.2% during the 4th quarter. Virtu Financial LLC now owns 322,423 shares of the company’s stock worth $228,000 after acquiring an additional 212,839 shares in the last quarter. FMR LLC boosted its stake in shares of Rite Aid by 7.6% during the 3rd quarter. FMR LLC now owns 2,706,371 shares of the company’s stock worth $3,464,000 after acquiring an additional 191,500 shares in the last quarter. Allred Capital Management LLC bought a new stake in shares of Rite Aid during the 4th quarter worth about $31,000. MetLife Investment Advisors LLC boosted its stake in shares of Rite Aid by 53.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 740,540 shares of the company’s stock worth $948,000 after acquiring an additional 258,006 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Rite Aid during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.
NYSE RAD opened at $0.49 on Friday. Rite Aid Co. has a twelve month low of $0.43 and a twelve month high of $2.12. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.91 and a current ratio of 1.68.
Rite Aid’s stock is set to reverse split on the morning of Monday, April 22nd. The 1-20 reverse split was announced on Wednesday, April 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, April 19th.
Rite Aid (NYSE:RAD) last posted its quarterly earnings data on Thursday, April 11th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.40. Rite Aid had a negative return on equity of 1.21% and a negative net margin of 1.95%. The business had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the previous year, the firm earned ($0.20) EPS. On average, equities research analysts forecast that Rite Aid Co. will post 0.01 EPS for the current fiscal year.
Several analysts have recently issued reports on RAD shares. Zacks Investment Research downgraded Rite Aid from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Guggenheim reiterated a “sell” rating on shares of Rite Aid in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.33.
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Rite Aid Company Profile
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.
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