Sei Investments Co. Raises Stock Holdings in Rite Aid Co. (NYSE:RAD)

Sei Investments Co. grew its stake in Rite Aid Co. (NYSE:RAD) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,105 shares of the company’s stock after purchasing an additional 1,697 shares during the period. Sei Investments Co. owned approximately 0.05% of Rite Aid worth $468,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Rite Aid by 18.8% in the first quarter. BlackRock Inc. now owns 5,005,045 shares of the company’s stock valued at $102,402,000 after purchasing an additional 793,118 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Rite Aid by 625.8% in the first quarter. Renaissance Technologies LLC now owns 1,696,785 shares of the company’s stock valued at $34,716,000 after purchasing an additional 1,462,995 shares during the period. Geode Capital Management LLC increased its holdings in shares of Rite Aid by 10.4% in the first quarter. Geode Capital Management LLC now owns 931,405 shares of the company’s stock valued at $19,056,000 after purchasing an additional 87,610 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Rite Aid by 107.6% in the first quarter. Dimensional Fund Advisors LP now owns 901,553 shares of the company’s stock valued at $18,445,000 after purchasing an additional 467,260 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Rite Aid in the first quarter valued at approximately $9,373,000. 56.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of RAD stock opened at $14.70 on Friday. The business’s fifty day moving average price is $16.11 and its 200 day moving average price is $18.19. Rite Aid Co. has a 1-year low of $8.85 and a 1-year high of $32.48. The firm has a market capitalization of $809.78 million, a PE ratio of -19.60 and a beta of 0.86. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.35 and a quick ratio of 0.67.

Rite Aid (NYSE:RAD) last announced its quarterly earnings data on Wednesday, September 22nd. The company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.07. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.21 billion. Rite Aid had a positive return on equity of 2.35% and a negative net margin of 0.17%. Rite Aid’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. Equities research analysts expect that Rite Aid Co. will post -0.8 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on RAD. TheStreet lowered Rite Aid from a “c-” rating to a “d+” rating in a report on Wednesday, July 21st. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Tuesday, August 24th. JPMorgan Chase & Co. lowered Rite Aid from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $21.00 to $12.00 in a report on Friday, June 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Rite Aid from $27.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, June 22nd.

In other Rite Aid news, VP Jocelyn Z. Konrad sold 28,384 shares of the company’s stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $15.42, for a total value of $437,681.28. Following the sale, the vice president now owns 95,065 shares of the company’s stock, valued at $1,465,902.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.26% of the stock is currently owned by corporate insiders.

Rite Aid Company Profile

Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through following segments: Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics.

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Institutional Ownership by Quarter for Rite Aid (NYSE:RAD)

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