Albertsons Companies merges with portion of Rite Aid

Wednesday, 21 Feb, 2018

"The merger is expected to close early in the second half of calendar year 2018, subject to the approval of Rite Aid's shareholders, regulatory approvals, and other customary closing conditions". The stock increased 2.40% or $0.05 during the last trading session, reaching $2.13. About 1.31M shares traded. Rite Aid now has a consensus rating of "Hold" and a consensus target price of $2.75. It has underperformed by 71.88% the S&P500. Its up 0.19, from 0.78 in 2017Q2.

Several hedge funds have recently made changes to their positions in RAD. Northwestern Mutual Wealth Mngmt reported 2,743 shares. Oppenheimer & accumulated 0.01% or 113,786 shares. Bb&T Secs Ltd holds 0% or 10,800 shares. Ameritas Inv Partners Inc holds 0.04% or 11,060 shares in its portfolio. "I have long known the excellent management team at Rite Aid, and we share a singular focus on superior customer service and a clear vision and strategy to become the favorite local supermarket and pharmacy to shoppers in every neighborhood we serve". Diversified Strategies Lc invested in 443,377 shares. (RAD) opened at $2.13 on Monday. It increased, as 47 investors sold AXP shares while 434 reduced holdings. Balyasny Asset Mgmt Ltd reported 46,961 shares. Kistler holds 50,300 shares or 0.04% of its portfolio.

A number of equities research analysts have weighed in on RAD shares. In addition, the combined entity will continue to operate Rite Aid stand-alone pharmacies, officials say.

Since October 3, 2017, it had 0 buys, and 1 sale for $58,915 activity. First Pacific Advisors Llc sold 169,800 shares as Ally Financial Inc (ALLY)'s stock declined 19.04%.

Even before the consolation prize of a deal last summer that saw Walgreens Boots Alliance (wba) buy 2,200 Rite Aid stores instead of the entire chain, Rite Aid was languishing. Therefore 14% are positive.

Rite Aid has 21 stores in the state, according to its website. The rating was downgraded by Deutsche Bank on Friday, April 8 to "Hold".

Rite Aid Corporation (NYSE:RAD) reported its EPS in the last quarter as $0/Share beating the analyst estimate of $-0.02/Share by a difference of $0.02. The company was reinitiated on Friday, June 30 by Bank of America. They set a "hold" rating and a $2.25 target price for the company. The firm has "Hold" rating given on Monday, July 31 by RBC Capital Markets. According to today's trading volume Rite Aid Corporation is BELOW its 20-Day Avg. volume with the stock showing BELOW Abnormal volume in the past 150 days. Cnooc Ltd (Put) was raised too. As per Zacks simplified descending rating scale the ABR rank is displayed in the range of 1 to 5 where 1 represents Strong Buy and 5 a Strong Sell. As per Friday, August 14, the company rating was upgraded by Vetr. Rench Wealth Mngmt, Texas-based fund reported 25,529 shares. The rating was maintained by Keefe Bruyette & Woods with "Hold" on Thursday, December 21. (NYSE:ALLY) earned "Buy" rating by Jefferies on Thursday, September 28. The stock has "Outperform" rating by Credit Suisse on Wednesday, July 29.

Chemical Financial Corporation operates as a financial holding firm of Chemical Bank that offers banking and fiduciary services and products to residents and business clients in MI.

Yahoo Finance reports the agreement would create a company valued at $83 billion, and pave the way for Albertsons to go public after more than a decade of ownership by a private equity firm, Cerberus Capital Management LP.

Pharmacy operations can strengthen customer loyalty for food retailers. Its down 0.08, from 0.98 in 2017Q2.