Rite Aid Corp. (NYSE:RAD) issued its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Rite Aid Corp. had a net margin of 0.44% and a return on equity of 36.73%.

Shares of Rite Aid Corp. (NYSE:RAD) opened at 8.10 on Thursday. The stock has a market capitalization of $8.44 billion, a PE ratio of 60.00 and a beta of 1.78. Rite Aid Corp. has a 52 week low of $5.88 and a 52 week high of $8.74. The stock has a 50 day moving average of $7.64 and a 200-day moving average of $7.71.

Several hedge funds have recently added to or reduced their stakes in RAD. Capital World Investors boosted its stake in Rite Aid Corp. by 56.7% in the second quarter. Capital World Investors now owns 16,577,000 shares of the company’s stock worth $124,162,000 after buying an additional 6,000,000 shares in the last quarter. Alpine Associates Management Inc. boosted its stake in Rite Aid Corp. by 45.7% in the second quarter. Alpine Associates Management Inc. now owns 11,274,700 shares of the company’s stock worth $84,450,000 after buying an additional 3,537,100 shares in the last quarter. APG Asset Management N.V. boosted its stake in Rite Aid Corp. by 49.8% in the second quarter. APG Asset Management N.V. now owns 9,502,229 shares of the company’s stock worth $71,172,000 after buying an additional 3,158,400 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Rite Aid Corp. by 174.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,650,318 shares of the company’s stock worth $12,361,000 after buying an additional 1,049,918 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Rite Aid Corp. by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 26,928,062 shares of the company’s stock worth $201,691,000 after buying an additional 831,727 shares in the last quarter. Institutional investors and hedge funds own 63.13% of the company’s stock.

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RAD has been the subject of several research reports. Zacks Investment Research raised shares of Rite Aid Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. Finally, Evercore ISI cut shares of Rite Aid Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Rite Aid Corp. currently has a consensus rating of “Hold” and a consensus price target of $9.11.

About Rite Aid Corp.

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.

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