Investment Centers of America Inc. Has $365,000 Position in Rite Aid Co. (RAD)

Investment Centers of America Inc. boosted its position in shares of Rite Aid Co. (NYSE:RAD) by 53.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,991 shares of the company’s stock after purchasing an additional 64,300 shares during the quarter. Investment Centers of America Inc.’s holdings in Rite Aid were worth $365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D grew its holdings in Rite Aid by 1.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 6,100,000 shares of the company’s stock valued at $11,956,000 after purchasing an additional 100,000 shares during the period. Stifel Financial Corp boosted its holdings in shares of Rite Aid by 71.5% in the second quarter. Stifel Financial Corp now owns 457,561 shares of the company’s stock valued at $1,343,000 after buying an additional 190,731 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Rite Aid by 100.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,412,603 shares of the company’s stock valued at $15,967,000 after buying an additional 2,711,300 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Rite Aid by 7.7% in the second quarter. California Public Employees Retirement System now owns 2,402,933 shares of the company’s stock valued at $7,089,000 after buying an additional 171,800 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Rite Aid by 1.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 314,155 shares of the company’s stock valued at $927,000 after buying an additional 4,199 shares during the period. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Shares of Rite Aid Co. (NYSE RAD) traded down $0.09 during mid-day trading on Friday, hitting $1.92. 28,934,353 shares of the stock were exchanged, compared to its average volume of 28,071,779. The company has a debt-to-equity ratio of 9.71, a quick ratio of 0.77 and a current ratio of 1.74. Rite Aid Co. has a twelve month low of $1.38 and a twelve month high of $8.77.

Rite Aid (NYSE:RAD) last announced its quarterly earnings data on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.83 billion. Rite Aid had a net margin of 0.28% and a negative return on equity of 7.51%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. analysts anticipate that Rite Aid Co. will post -0.1 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Rite Aid from a “sell” rating to a “hold” rating in a report on Friday, November 17th. Royal Bank Of Canada set a $2.00 price target on shares of Rite Aid and gave the company a “hold” rating in a report on Wednesday, October 25th. Loop Capital reiterated a “hold” rating and issued a $2.00 price target (down previously from $2.50) on shares of Rite Aid in a report on Friday, September 29th. Guggenheim reiterated a “neutral” rating and issued a $2.00 price target on shares of Rite Aid in a report on Monday, October 2nd. Finally, Mizuho set a $2.00 price target on shares of Rite Aid and gave the company a “hold” rating in a report on Saturday, October 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $3.68.

In other news, Director Myrtle S. Potter sold 28,189 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total value of $58,915.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.29% of the company’s stock.

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Rite Aid Company Profile

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 (NYSE:RAD)

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