Albertsons to acquire Rite Aid

by Frankie Norman February 21, 2018, 0:31
Albertsons to acquire Rite Aid

43 funds opened positions while 87 raised stakes. Asset Mngmt Inc accumulated 0.04% or 32,400 shares. Citadel Advisors Ltd Liability owns 1.90M shares. Raymond James And invested in 63,318 shares or 0.01% of the stock.

Rite Aid Corporation (NYSE:RAD) received a Buy rating from 0 analysts. Rench Wealth Mngmt, Texas-based fund reported 25,529 shares. 93,000 are owned by Atlas Browninc.

Rite Aid (RAD) and Albertsons, the private-equity backed company that operates Safeway, Super Saver, and several other supermarket chains, said the deal would create a combined company with expected 2018 revenues of roughly $83 billion and potential annual earnings before interest, taxes, depreciation and amortization of $3.7 billion. Balyasny Asset Mngmt Limited Liability accumulated 46,961 shares or 0% of the stock. SELL rating has been given by 0 analyst (s) and 0 analyst (s) given BUY rating to the stock. Keefe Bruyette & Woods maintained the shares of CHFC in report on Thursday, June 1 with "Buy" rating.

Since October 3, 2017, it had 0 buys, and 1 sale for $58,915 activity.

Current Rite Aid chairman and CEO John Standley will become CEO of the combined company, with current Albertsons' Miller serving as chairman. About 9.44M shares traded.

Rite Aid is now headquartered in Pennsylvania, near Harrisburg.

The move comes after 7 months positive chart setup for the $2.25B company. We have $2.32 PT which if reached, will make NYSE:RAD worth $180.24M more. Rite Aid, which comprises thousands of drug stores and a benefits-management company with millions of members, has a market value of about $2.3 billion and is in the process of selling a chunk of. Rite Aid has $11 highest and $1.5 lowest target.

Among 4 analysts covering Cincinnati Fincl (NASDAQ:CINF), 1 have Buy rating, 1 Sell and 2 Hold. The firm has "Outperform" rating by FIG Partners given on Friday, January 29. The rating was reinitiated by Evercore on Friday, June 30 with "Underperform". As per Monday, September 11, the company rating was initiated by Loop Capital Markets. The firm earned "Neutral" rating on Wednesday, April 26 by Guggenheim.

Canyon Capital Advisors Llc, which manages about $20.20B and $6.69B US Long portfolio, decreased its stake in Time Warner Inc (NYSE:TWX) by 251,000 shares to 5.66 million shares, valued at $579.36 million in 2017Q3, according to the filing. Vetr cut shares of Rite Aid from a "strong-buy" rating to a "buy" rating and set a $2.47 target price for the a research note on Thursday, January 11th.

Pharmacy operations can strengthen customer loyalty for food retailers. The combination of Albertsons Companies' billion dollar own brands, including O Organics and Lucerne®, and its manufacturing and operating capabilities, with Rite Aid's own brands in health and wellness, including B4Y™ and Daylogic™, and its pharmacy expertise will allow the combined company to drive growth opportunities and efficiencies across its purchasing, marketing, manufacturing, and merchandising functions.

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