Shares of Walgreens Boots Alliance Inc (NASDAQ:WBA) have received an average rating of “Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $85.71.
WBA has been the topic of several recent analyst reports. UBS reissued a “buy” rating and set a $96.00 target price (down previously from $97.00) on shares of Walgreens Boots Alliance in a report on Wednesday, August 23rd. Loop Capital initiated coverage on Walgreens Boots Alliance in a report on Thursday, August 24th. They set a “buy” rating and a $95.00 target price on the stock. BidaskClub raised Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Jefferies Group reissued a “buy” rating and set a $95.00 target price on shares of Walgreens Boots Alliance in a report on Thursday, September 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $94.00 target price on shares of Walgreens Boots Alliance in a report on Sunday, September 10th.
Shares of Walgreens Boots Alliance (WBA) traded up $0.87 during trading hours on Friday, reaching $71.05. The company had a trading volume of 5,979,994 shares, compared to its average volume of 5,445,819. Walgreens Boots Alliance has a 1 year low of $63.82 and a 1 year high of $88.00. The company has a market capitalization of $70,879.76, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.07.
Walgreens Boots Alliance announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the pharmacy operator to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, November 10th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is currently 42.33%.
In other news, Director John Anthony Lederer bought 20,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were bought at an average cost of $67.00 per share, with a total value of $1,340,000.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at $3,350,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total transaction of $184,324.32. Following the sale, the director now directly owns 16,415 shares in the company, valued at $1,105,878.55. The disclosure for this sale can be found here. 14.80% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in Walgreens Boots Alliance by 24.7% in the second quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock worth $1,448,939,000 after purchasing an additional 3,662,302 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Walgreens Boots Alliance by 471.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,295,583 shares of the pharmacy operator’s stock valued at $258,077,000 after buying an additional 2,718,800 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Walgreens Boots Alliance by 2.8% during 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 buying an additional 1,926,108 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Walgreens Boots Alliance by 5.9% during the first quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock valued at $2,727,932,000 after buying an additional 1,824,300 shares during the last quarter. Finally, Glenview Capital Management LLC acquired a new position in shares of Walgreens Boots Alliance during the second quarter valued at about $136,875,000. 60.24% of the stock is currently owned by institutional investors.
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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