D.C. Capital Advisors Ltd lessened its holdings in Rite Aid Co. (NYSE:RAD) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 800,000 shares of the company’s stock after selling 200,000 shares during the quarter. Rite Aid makes up approximately 0.5% of D.C. Capital Advisors Ltd’s holdings, making the stock its 23rd biggest holding. D.C. Capital Advisors Ltd owned about 0.08% of Rite Aid worth $1,024,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of RAD. Rhumbline Advisers raised its position in shares of Rite Aid by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 1,096,828 shares of the company’s stock valued at $1,898,000 after acquiring an additional 30,154 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Rite Aid by 24.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 180,143 shares of the company’s stock worth $312,000 after buying an additional 35,100 shares during the period. Poehling Capital Management LLC raised its holdings in Rite Aid by 11.2% during the 3rd quarter. Poehling Capital Management LLC now owns 379,615 shares of the company’s stock worth $486,000 after buying an additional 38,285 shares during the period. Cohen Capital Management Inc. raised its holdings in Rite Aid by 91.7% during the 3rd quarter. Cohen Capital Management Inc. now owns 86,955 shares of the company’s stock worth $111,000 after buying an additional 41,588 shares during the period. Finally, HRT Financial LLC acquired a new stake in Rite Aid during the 2nd quarter worth approximately $105,000. 54.19% of the stock is currently owned by institutional investors.
NYSE:RAD opened at $1.13 on Friday. Rite Aid Co. has a 1-year low of $0.98 and a 1-year high of $2.55. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.62 and a quick ratio of 0.94. The firm has a market capitalization of $1.21 billion, a P/E ratio of -56.50 and a beta of 1.48.
Rite Aid (NYSE:RAD) last released its earnings results on Thursday, September 27th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the business earned ($0.01) earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Rite Aid from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Royal Bank of Canada set a $1.00 price objective on shares of Rite Aid and gave the company a “hold” rating in a report on Monday, September 24th. Mizuho reiterated a “hold” rating and issued a $2.00 price objective on shares of Rite Aid in a report on Thursday, August 9th. Loop Capital set a $1.00 price objective on shares of Rite Aid and gave the company a “hold” rating in a report on Friday, September 28th. Finally, Cowen downgraded shares of Rite Aid from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $2.35 to $6.00 in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Rite Aid has a consensus rating of “Hold” and a consensus price target of $2.06.
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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.
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