Sei Investments Co. raised its holdings in shares of Rite Aid Co. (NYSE:RAD) by 6.4% in the second quarter, Holdings Channel.com reports. The firm owned 28,105 shares of the company’s stock after buying an additional 1,697 shares during the period. Sei Investments Co.’s holdings in Rite Aid were worth $468,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. UBS Asset Management Americas Inc. grew its stake in Rite Aid by 12.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 86,665 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,457 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Rite Aid during the 1st quarter valued at approximately $208,000. Standard Life Aberdeen plc acquired a new stake in Rite Aid during the 1st quarter valued at approximately $1,750,000. BDO Wealth Advisors LLC acquired a new stake in Rite Aid during the 1st quarter valued at approximately $31,000. Finally, Keebeck Alpha LP acquired a new stake in Rite Aid during the 2nd quarter valued at approximately $188,000. Hedge funds and other institutional investors own 56.03% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Rite Aid from a “sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research note on Tuesday, August 24th. TheStreet downgraded Rite Aid from a “c-” rating to a “d+” rating in a report on Wednesday, July 21st. JPMorgan Chase & Co. downgraded Rite Aid from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $21.00 to $12.00 in a report on Friday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Rite Aid from $27.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, June 22nd.
NYSE:RAD opened at $14.70 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.35 and a debt-to-equity ratio of 5.02. The business’s 50 day moving average is $16.11 and its two-hundred day moving average is $18.19. Rite Aid Co. has a 52 week low of $8.85 and a 52 week high of $32.48. The company has a market cap of $809.78 million, a PE ratio of -19.60 and a beta of 0.86.
Rite Aid (NYSE:RAD) last released its earnings results on Wednesday, September 22nd. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Rite Aid had a positive return on equity of 2.35% and a negative net margin of 0.17%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the business posted $0.25 EPS. Rite Aid’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Rite Aid Co. will post -0.8 EPS for the current fiscal year.
About Rite Aid
Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through following segments: Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics.
Further Reading: What are popular green investing opportunities?
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.