New York State Common Retirement Fund Has $6.42 Million Position in Rite Aid Corporation (RAD)

New York State Common Retirement Fund decreased its position in shares of Rite Aid Corporation (NYSE:RAD) by 6.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,177,640 shares of the company’s stock after selling 147,961 shares during the quarter. New York State Common Retirement Fund owned approximately 0.21% of Rite Aid Corporation worth $6,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RAD. Smithfield Trust Co. lifted its stake in shares of Rite Aid Corporation by 37.8% during the 2nd quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock valued at $111,000 after buying an additional 10,330 shares in the last quarter. Comerica Bank lifted its stake in shares of Rite Aid Corporation by 9.2% during the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after buying an additional 3,753 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Rite Aid Corporation by 8.1% during the 2nd quarter. Pinnacle Associates Ltd. now owns 38,900 shares of the company’s stock valued at $115,000 after buying an additional 2,900 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Rite Aid Corporation by 31.1% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 40,000 shares of the company’s stock valued at $118,000 after buying an additional 9,500 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Rite Aid Corporation by 24.4% during the 1st quarter. Nordea Investment Management AB now owns 29,061 shares of the company’s stock valued at $124,000 after buying an additional 5,706 shares in the last quarter. Institutional investors own 52.62% of the company’s stock.

Shares of Rite Aid Corporation (NYSE RAD) opened at 1.74 on Friday. The company has a market capitalization of $1.82 billion, a P/E ratio of 20.71 and a beta of 1.79. Rite Aid Corporation has a 12-month low of $1.63 and a 12-month high of $8.77. The stock has a 50 day moving average of $2.26 and a 200-day moving average of $3.03.

Rite Aid Corporation (NYSE:RAD) last issued its earnings results on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Rite Aid Corporation had a net margin of 0.28% and a negative return on equity of 7.51%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. Equities research analysts forecast that Rite Aid Corporation will post $0.92 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/14/new-york-state-common-retirement-fund-has-6-42-million-position-in-rite-aid-corporation-rad.html.

In other news, Director Myrtle S. Potter sold 28,189 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.29% of the stock is owned by corporate insiders.

RAD has been the topic of a number of research reports. Evercore ISI initiated coverage on shares of Rite Aid Corporation in a report on Friday, June 30th. They issued an “underperform” rating and a $2.50 price target on the stock. Bank of America Corporation reiterated an “underperform” rating and issued a $2.00 price target on shares of Rite Aid Corporation in a report on Friday, June 30th. Cowen and Company reiterated an “outperform” rating and issued a $4.70 price target on shares of Rite Aid Corporation in a report on Monday, July 3rd. Guggenheim reiterated a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Finally, <

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RAD. Smithfield Trust Co. lifted its stake in shares of Rite Aid Corporation by 37.8% during the 2nd quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock valued at $111,000 after buying an additional 10,330 shares in the last quarter. Comerica Bank lifted its stake in shares of Rite Aid Corporation by 9.2% during the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after buying an additional 3,753 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Rite Aid Corporation by 8.1% during the 2nd quarter. Pinnacle Associates Ltd. now owns 38,900 shares of the company’s stock valued at $115,000 after buying an additional 2,900 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Rite Aid Corporation by 31.1% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 40,000 shares of the company’s stock valued at $118,000 after buying an additional 9,500 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Rite Aid Corporation by 24.4% during the 1st quarter. Nordea Investment Management AB now owns 29,061 shares of the company’s stock valued at $124,000 after buying an additional 5,706 shares in the last quarter. Institutional investors own 52.62% of the company’s stock.

Shares of Rite Aid Corporation (NYSE RAD) opened at 1.74 on Friday. The company has a market capitalization of $1.82 billion, a P/E ratio of 20.71 and a beta of 1.79. Rite Aid Corporation has a 12-month low of $1.63 and a 12-month high of $8.77. The stock has a 50 day moving average of $2.26 and a 200-day moving average of $3.03.

Rite Aid Corporation (NYSE:RAD) last issued its earnings results on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Rite Aid Corporation had a net margin of 0.28% and a negative return on equity of 7.51%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. Equities research analysts forecast that Rite Aid Corporation will post $0.92 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/14/new-york-state-common-retirement-fund-has-6-42-million-position-in-rite-aid-corporation-rad.html.

In other news, Director Myrtle S. Potter sold 28,189 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.29% of the stock is owned by corporate insiders.

RAD has been the topic of a number of research reports. Evercore ISI initiated coverage on shares of Rite Aid Corporation in a report on Friday, June 30th. They issued an “underperform” rating and a $2.50 price target on the stock. Bank of America Corporation reiterated an “underperform” rating and issued a $2.00 price target on shares of Rite Aid Corporation in a report on Friday, June 30th. Cowen and Company reiterated an “outperform” rating and issued a $4.70 price target on shares of Rite Aid Corporation in a report on Monday, July 3rd. Guggenheim reiterated a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Finally, Zacks Investment Research downgraded shares of Rite Aid Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.73.

About Rite Aid Corporation

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 Corporation (NYSE:RAD)

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