Bank of New York Mellon Corp Has $3.32 Million Holdings in Rite Aid Co. (NYSE:RAD)

Bank of New York Mellon Corp lessened its position in shares of Rite Aid Co. (NYSE:RAD) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,683,440 shares of the company’s stock after selling 739,306 shares during the period. Bank of New York Mellon Corp owned about 0.43% of Rite Aid worth $3,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RAD. Virtu Financial LLC increased its holdings in shares of Rite Aid by 194.2% during the fourth quarter. Virtu Financial LLC now owns 322,423 shares of the company’s stock worth $228,000 after purchasing an additional 212,839 shares during the period. FMR LLC grew its stake in shares of Rite Aid by 7.6% during the third quarter. FMR LLC now owns 2,706,371 shares of the company’s stock worth $3,464,000 after buying an additional 191,500 shares during the last quarter. Allred Capital Management LLC bought a new stake in shares of Rite Aid during the fourth quarter worth $31,000. MetLife Investment Advisors LLC lifted its holdings in shares of Rite Aid by 53.5% during the third quarter. MetLife Investment Advisors LLC now owns 740,540 shares of the company’s stock worth $948,000 after purchasing an additional 258,006 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Rite Aid during the third quarter worth $47,000.

Shares of NYSE RAD traded up $0.09 during trading on Friday, hitting $7.99. 1,785,816 shares of the company traded hands, compared to its average volume of 1,896,416. Rite Aid Co. has a fifty-two week low of $7.36 and a fifty-two week high of $42.40. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 2.93.

Rite Aid (NYSE:RAD) last announced its quarterly earnings data on Thursday, April 11th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.40. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.56 billion. Rite Aid had a negative net margin of 1.95% and a negative return on equity of 1.21%. During the same quarter in the prior year, the business earned ($0.20) earnings per share. On average, analysts predict that Rite Aid Co. will post 0.27 earnings per share for the current fiscal year.

RAD has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Guggenheim restated a “sell” rating on shares of Rite Aid in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Rite Aid presently has a consensus rating of “Hold” and an average price target of $38.33.

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Rite Aid Company Profile

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

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