Walgreens Boots Alliance Inc. (NASDAQ:WBA) was upgraded by Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $95.00 target price on the pharmacy operator’s stock, up from their prior target price of $87.00. Jefferies Group’s price target suggests a potential upside of 21.67% from the stock’s current price.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Walgreens Boots Alliance from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Robert W. Baird reiterated an “outperform” rating and issued a $95.00 price objective on shares of Walgreens Boots Alliance in a research report on Tuesday, October 4th. Bank of America Corp. reiterated a “buy” rating and issued a $94.00 price objective on shares of Walgreens Boots Alliance in a research report on Tuesday, August 30th. Deutsche Bank AG lifted their price objective on Walgreens Boots Alliance from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, August 30th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating on shares of Walgreens Boots Alliance in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $93.35.
Shares of Walgreens Boots Alliance (NASDAQ:WBA) opened at 78.08 on Monday. The company has a 50-day moving average of $80.72 and a 200-day moving average of $80.91. Walgreens Boots Alliance has a 12-month low of $71.50 and a 12-month high of $95.74. The stock has a market capitalization of $84.51 billion, a P/E ratio of 26.98 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Tuesday, November 15th. Walgreens Boots Alliance’s dividend payout ratio is currently 51.90%.
In related news, EVP Kathleen Wilson-Thompson sold 23,996 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $85.00, for a total transaction of $2,039,660.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William C. Foote sold 2,067 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $81.35, for a total value of $168,150.45. Following the transaction, the director now directly owns 26,690 shares in the company, valued at $2,171,231.50. The disclosure for this sale can be found here. Insiders own 21.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WBA. CapWealth Advisors LLC raised its position in Walgreens Boots Alliance by 30.0% in the first quarter. CapWealth Advisors LLC now owns 1,300 shares of the pharmacy operator’s stock worth $110,000 after buying an additional 300 shares during the last quarter. Kings Point Capital Management raised its position in Walgreens Boots Alliance by 12.8% in the first quarter. Kings Point Capital Management now owns 1,323 shares of the pharmacy operator’s stock worth $111,000 after buying an additional 150 shares during the last quarter. Jolley Asset Management LLC raised its position in Walgreens Boots Alliance by 104.5% in the second quarter. Jolley Asset Management LLC now owns 1,370 shares of the pharmacy operator’s stock worth $114,000 after buying an additional 700 shares during the last quarter. Westbourne Investment Advisors Inc. acquired a new position in Walgreens Boots Alliance during the second quarter worth $121,000. Finally, Cribstone Capital Management LLC acquired a new position in Walgreens Boots Alliance during the second quarter worth $149,000. 59.76% of the stock is currently owned by institutional investors and hedge funds.
Walgreens Boots Alliance Company Profile
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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