United Services Automobile Association Maintains Position in Rite Aid Corporation (NYSE:RAD)

United Services Automobile Association maintained its stake in Rite Aid Corporation (NYSE:RAD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,691 shares of the company’s stock at the end of the first quarter. United Services Automobile Association’s holdings in Rite Aid Corporation were worth $232,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Capstone Asset Management Co. increased its position in shares of Rite Aid Corporation 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 in the last quarter. Cohen Capital Management Inc. increased its position in shares of Rite Aid Corporation 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 in the last quarter. Nordea Investment Management AB increased its position in shares of Rite Aid Corporation by 24.4% in the first quarter. Nordea Investment Management AB now owns 29,061 shares of the company’s stock worth $124,000 after buying an additional 5,706 shares in the last quarter. Johanson Financial Advisors Inc. increased its position in shares of Rite Aid Corporation 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 in the last quarter. Finally, Gemmer Asset Management LLC acquired a new position in shares of Rite Aid Corporation during the first quarter worth about $140,000. Hedge funds and other institutional investors own 56.85% of the company’s stock.

Shares of Rite Aid Corporation (NYSE:RAD) traded down 2.36% during trading on Friday, reaching $2.48. The company’s stock had a trading volume of 22,380,304 shares. Rite Aid Corporation has a one year low of $2.21 and a one year high of $8.77. The firm’s 50-day moving average price is $2.98 and its 200-day moving average price is $4.66. The company’s market capitalization is $2.60 billion.

Rite Aid Corporation (NYSE:RAD) last issued its earnings results on Thursday, June 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.04. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The firm had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the firm earned $0.02 earnings per share. Rite Aid Corporation’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities analysts anticipate that Rite Aid Corporation will post ($0.09) earnings per share for the current year.

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RAD has been the topic of a number of research reports. Guggenheim downgraded Rite Aid Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. Zacks Investment Research raised Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Cowen and Company reaffirmed an “outperform” rating and set a $4.70 price target on shares of Rite Aid Corporation in a research note on Monday, June 12th. Evercore ISI started coverage on Rite Aid Corporation in a report on Friday, June 30th. They set an “underperform” rating and a $2.50 price objective for the company. Finally, Bank of America Corporation reissued an “underperform” rating and set a $2.00 price objective on shares of Rite Aid Corporation in a report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.53.

Rite Aid Corporation Company Profile

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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