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.
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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