Rite Aid Corporation (RAD) Shares Bought by Utah Retirement Systems

Utah Retirement Systems boosted its stake in shares of Rite Aid Corporation (NYSE:RAD) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 187,700 shares of the company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in Rite Aid Corporation were worth $797,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Rite Aid Corporation during the fourth quarter valued at about $3,366,000. Comerica Bank purchased a new position in shares of Rite Aid Corporation during the fourth quarter valued at about $354,000. State Street Corp boosted its position in shares of Rite Aid Corporation by 0.9% in the fourth quarter. State Street Corp now owns 18,968,015 shares of the company’s stock valued at $156,302,000 after buying an additional 178,242 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Rite Aid Corporation by 929.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,806,753 shares of the company’s stock valued at $14,889,000 after buying an additional 1,631,282 shares during the period. Finally, Allianz Asset Management AG boosted its position in shares of Rite Aid Corporation by 5,335.7% in the fourth quarter. Allianz Asset Management AG now owns 1,045,711 shares of the company’s stock valued at $8,617,000 after buying an additional 1,026,473 shares during the period. Institutional investors own 56.85% of the company’s stock.

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

Rite Aid Corporation (NYSE:RAD) traded up 0.97% during midday trading on Friday, hitting $3.11. The stock had a trading volume of 3,014,329 shares. The company has a market cap of $3.28 billion, a P/E ratio of 777.50 and a beta of 1.85. Rite Aid Corporation has a one year low of $2.90 and a one year high of $8.77. The stock’s 50-day moving average is $3.60 and its 200-day moving average is $5.46.

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RAD has been the topic of several research analyst reports. Zacks Investment Research upgraded Rite Aid Corporation from a “sell” rating to a “hold” rating in a research report on Monday, February 27th. Vetr upgraded Rite Aid Corporation from a “buy” rating to a “strong-buy” rating and set a $6.58 price target on the stock in a research report on Thursday, March 2nd. Deutsche Bank AG reissued a “hold” rating and set a $6.50 price objective (down from $9.00) on shares of Rite Aid Corporation in a research note on Monday, March 6th. Credit Suisse Group reissued an “outperform” rating and set a $6.50 price objective on shares of Rite Aid Corporation in a research note on Monday, March 20th. Finally, Guggenheim lowered Rite Aid Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $6.21.

About Rite Aid Corporation

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.

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