Gemmer Asset Management LLC acquired a new position in shares of Rite Aid Co. (NYSE:RAD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,000 shares of the company’s stock, valued at approximately $140,000.
Several other hedge funds have also added to or reduced their stakes in RAD. Capstone Asset Management Co. boosted its stake in Rite Aid by 7.9% in the first quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock worth $110,000 after buying an additional 1,890 shares during the last quarter. Greylin Investment Mangement Inc. acquired a new stake in Rite Aid during the third quarter worth about $115,000. Cohen Capital Management Inc. boosted its stake in Rite Aid by 3.4% in the first quarter. Cohen Capital Management Inc. now owns 26,978 shares of the company’s stock worth $115,000 after buying an additional 875 shares during the last quarter. Johanson Financial Advisors Inc. boosted its stake in Rite Aid by 62.2% in the first quarter. Johanson Financial Advisors Inc. now owns 30,515 shares of the company’s stock worth $127,000 after buying an additional 11,700 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in Rite Aid by 2.1% in the third quarter. Advisor Group Inc. now owns 22,603 shares of the company’s stock worth $157,000 after buying an additional 472 shares during the last quarter. 59.92% of the stock is owned by institutional investors.
Rite Aid Co. (NYSE:RAD) traded down 1.838% during mid-day trading on Thursday, reaching $4.005. The company had a trading volume of 35,842,985 shares. The company’s 50-day moving average is $4.70 and its 200-day moving average is $6.59. Rite Aid Co. has a one year low of $3.75 and a one year high of $8.77. The stock has a market capitalization of $4.19 billion, a PE ratio of 50.696 and a beta of 1.89.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut Rite Aid from a “hold” rating to a “sell” rating in a research report on Wednesday, March 8th. Vetr cut Rite Aid from a “strong-buy” rating to a “buy” rating and set a $6.58 price objective for the company. in a research report on Monday, February 20th. Mizuho reaffirmed a “positive” rating and issued a $6.75 price objective (down from $9.00) on shares of Rite Aid in a research report on Monday, January 30th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $6.50 price objective (down from $9.00) on shares of Rite Aid in a research report on Monday, March 6th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Rite Aid in a research report on Monday, March 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.58.
About Rite Aid
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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