Millennium Management LLC Has $85,000 Holdings in Rite Aid Co. (RAD)

Millennium Management LLC lowered its position in Rite Aid Co. (NYSE:RAD) by 97.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 119,600 shares of the company’s stock after selling 4,157,148 shares during the quarter. Millennium Management LLC’s holdings in Rite Aid were worth $85,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc raised its holdings in Rite Aid by 4.4% in the 4th quarter. Legal & General Group Plc now owns 2,429,210 shares of the company’s stock valued at $1,721,000 after acquiring an additional 101,474 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in Rite Aid in the 4th quarter valued at about $149,000. Metropolitan Life Insurance Co. NY raised its holdings in Rite Aid by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 340,769 shares of the company’s stock valued at $241,000 after acquiring an additional 266,141 shares during the last quarter. Paloma Partners Management Co raised its holdings in Rite Aid by 21.5% in the 4th quarter. Paloma Partners Management Co now owns 82,600 shares of the company’s stock valued at $59,000 after acquiring an additional 14,600 shares during the last quarter. Finally, Pensionmark Financial Group LLC acquired a new stake in Rite Aid in the 4th quarter valued at about $32,000.

Rite Aid stock opened at $9.13 on Friday. Rite Aid Co. has a 1-year low of $7.36 and a 1-year high of $42.40. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.91 and a current ratio of 1.68.

Rite Aid (NYSE:RAD) last posted its quarterly earnings results 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. Rite Aid had a negative net margin of 1.95% and a negative return on equity of 1.21%. The business had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the prior year, the company posted ($0.20) EPS. As a group, equities research analysts predict that Rite Aid Co. will post 0.27 EPS for the current fiscal year.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Rite Aid from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, March 20th. Guggenheim reiterated 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 issued a hold rating to the company. The stock 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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