Robert W. Baird reissued their buy rating on shares of Walgreens Boots Alliance (NASDAQ:WBA) in a research report report published on Thursday morning. Robert W. Baird currently has a $82.00 price target on the pharmacy operator’s stock.
Several other analysts also recently weighed in on the company. Morgan Stanley downgraded Walgreens Boots Alliance from an overweight rating to an equal weight rating and lowered their target price for the company from $95.00 to $85.00 in a research note on Friday, October 6th. BidaskClub upgraded Walgreens Boots Alliance from a strong sell rating to a sell rating in a research note on Friday, November 10th. Vetr upgraded Walgreens Boots Alliance from a buy rating to a strong-buy rating in a research note on Tuesday, December 12th. Citigroup lowered their target price on Walgreens Boots Alliance from $95.00 to $81.00 and set a buy rating for the company in a research note on Thursday, November 2nd. Finally, Zacks Investment Research downgraded Walgreens Boots Alliance from a hold rating to a sell rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Walgreens Boots Alliance currently has a consensus rating of Buy and a consensus target price of $86.05.
Shares of Walgreens Boots Alliance (WBA) traded up $0.22 during trading on Thursday, hitting $73.14. The stock had a trading volume of 314,579 shares, compared to its average volume of 8,818,875. The company has a quick ratio of 0.47, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $72,239.58, a P/E ratio of 20.20, a PEG ratio of 1.29 and a beta of 1.22. Walgreens Boots Alliance has a 12 month low of $63.82 and a 12 month high of $88.00.
Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, January 4th. The pharmacy operator reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.01. The company had revenue of $30.74 billion during the quarter, compared to the consensus estimate of $30.39 billion. Walgreens Boots Alliance had a return on equity of 19.15% and a net margin of 3.19%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. sell-side analysts expect that Walgreens Boots Alliance will post 5.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Monday, November 13th were paid a $0.40 dividend. The ex-dividend date was Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is 44.20%.
Walgreens Boots Alliance declared that its board has approved a share buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the pharmacy operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In related news, Director John Anthony Lederer bought 20,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was bought at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $3,350,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William C. Foote sold 2,736 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total value of $184,324.32. Following the completion of the transaction, the director now owns 16,415 shares of the company’s stock, valued at $1,105,878.55. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Walgreens Boots Alliance by 2.8% in the second quarter. Vanguard Group Inc. now owns 69,985,653 shares of the pharmacy operator’s stock valued at $5,480,577,000 after acquiring an additional 1,926,108 shares during the period. Franklin Resources Inc. raised its holdings in shares of Walgreens Boots Alliance by 24.7% during the second quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock valued at $1,448,939,000 after buying an additional 3,662,302 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Walgreens Boots Alliance by 1.0% during the third quarter. Nordea Investment Management AB now owns 10,182,388 shares of the pharmacy operator’s stock valued at $786,284,000 after buying an additional 96,552 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Walgreens Boots Alliance by 12.5% during the third quarter. Dimensional Fund Advisors LP now owns 6,641,826 shares of the pharmacy operator’s stock valued at $512,893,000 after buying an additional 735,917 shares during the last quarter. Finally, CI Global Investments Inc. raised its holdings in shares of Walgreens Boots Alliance by 4.8% during the second quarter. CI Global Investments Inc. now owns 5,931,592 shares of the pharmacy operator’s stock valued at $464,503,000 after buying an additional 270,182 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.
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About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).
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