Evercore ISI began coverage on shares of Walgreens Boots Alliance (NASDAQ:WBA) in a report released on Thursday. The brokerage issued an outperform rating and a $80.00 price objective on the pharmacy operator’s stock.
Other research analysts have also recently issued reports about the company. Needham & Company LLC reduced their price objective on Walgreens Boots Alliance to $86.00 and set a buy rating for the company in a research report on Wednesday, November 22nd. Jefferies Group set a $93.00 price objective on Walgreens Boots Alliance and gave the stock a buy rating in a research report on Sunday, October 29th. Vetr raised Walgreens Boots Alliance from a buy rating to a strong-buy rating in a research report on Tuesday, December 12th. BidaskClub raised Walgreens Boots Alliance from a strong sell rating to a sell rating in a research report on Friday, November 10th. Finally, Zacks Investment Research raised Walgreens Boots Alliance from a sell rating to a hold rating in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $86.05.
Walgreens Boots Alliance (WBA) traded down $3.91 during trading hours on Thursday, reaching $71.60. The company’s stock had a trading volume of 12,455,200 shares, compared to its average volume of 8,735,833. Walgreens Boots Alliance has a 1 year low of $63.82 and a 1 year high of $88.00. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $72,280.00, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $1.60 annualized dividend and a yield of 2.23%. Walgreens Boots Alliance’s dividend payout ratio is 44.20%.
Walgreens Boots Alliance declared that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the pharmacy operator to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total transaction of $184,324.32. Following the sale, the director now owns 16,415 shares of the company’s stock, valued at $1,105,878.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Anthony Lederer purchased 20,000 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, October 26th. The shares were bought at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $3,350,000. The disclosure for this purchase can be found here. 14.80% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in shares of Walgreens Boots Alliance by 24.7% in the 2nd quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock valued at $1,448,939,000 after purchasing an additional 3,662,302 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Walgreens Boots Alliance by 471.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,295,583 shares of the pharmacy operator’s stock valued at $258,077,000 after purchasing an additional 2,718,800 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Walgreens Boots Alliance by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 69,985,653 shares of the pharmacy operator’s stock valued at $5,480,577,000 after purchasing an additional 1,926,108 shares in the last quarter. Glenview Capital Management LLC acquired a new stake in shares of Walgreens Boots Alliance in the 2nd quarter valued at $136,875,000. Finally, Harding Loevner LP boosted its holdings in shares of Walgreens Boots Alliance by 85.3% in the 3rd quarter. Harding Loevner LP now owns 2,844,207 shares of the pharmacy operator’s stock valued at $115,725,000 after purchasing an additional 1,309,179 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.
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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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