Ameriprise Financial Inc. Has $839,000 Stake in Rite Aid Corporation (NYSE:RAD)

Ameriprise Financial Inc. decreased its position in shares of Rite Aid Corporation (NYSE:RAD) by 49.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 197,502 shares of the company’s stock after selling 192,955 shares during the period. Ameriprise Financial Inc.’s holdings in Rite Aid Corporation were worth $839,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GSA Capital Partners LLP boosted its stake in Rite Aid Corporation by 8.5% in the fourth quarter. GSA Capital Partners LLP now owns 21,801 shares of the company’s stock valued at $180,000 after buying an additional 1,703 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Rite Aid Corporation by 125.3% in the fourth quarter. Macquarie Group Ltd. now owns 22,300 shares of the company’s stock valued at $184,000 after buying an additional 12,400 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Rite Aid Corporation by 7.9% in the first quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock valued at $110,000 after buying an additional 1,890 shares during the last quarter. Cohen Capital Management Inc. boosted its stake in Rite Aid Corporation by 3.4% in the first quarter. Cohen Capital Management Inc. now owns 26,978 shares of the company’s stock valued at $115,000 after buying an additional 875 shares during the last quarter. Finally, Johanson Financial Advisors Inc. boosted its stake in Rite Aid Corporation by 62.2% in the first quarter. Johanson Financial Advisors Inc. now owns 30,515 shares of the company’s stock valued at $127,000 after buying an additional 11,700 shares during the last quarter. Hedge funds and other institutional investors own 56.48% of the company’s stock.

Rite Aid Corporation (NYSE:RAD) opened at 2.33 on Monday. Rite Aid Corporation has a one year low of $2.21 and a one year high of $8.77. The firm’s market capitalization is $2.44 billion. The stock’s 50 day moving average price is $2.74 and its 200 day moving average price is $4.28.

Rite Aid Corporation (NYSE:RAD) last released its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.04. The business had revenue of $7.78 billion during the quarter, compared to analyst estimates of $8.29 billion. Rite Aid Corporation had a negative net margin of 0.21% and a positive return on equity of 0.52%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 earnings per share. Analysts expect that Rite Aid Corporation will post ($0.09) EPS for the current year.

Several research firms recently issued reports on RAD. Zacks Investment Research upgraded Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 16th. Guggenheim cut Rite Aid Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Cowen and Company reiterated an “outperform” rating and issued a $4.70 price objective on shares of Rite Aid Corporation in a report on Monday, June 12th. Bank of America Corporation reiterated an “underperform” rating and issued a $2.00 price objective on shares of Rite Aid Corporation in a report on Friday, June 30th. Finally, Evercore ISI began coverage on Rite Aid Corporation in a report on Friday, June 30th. They issued an “underperform” rating and a $2.50 price objective on the stock. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target 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.