Minneapolis Portfolio Management Group LLC Acquires New Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)


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Minneapolis Portfolio Management Group LLC acquired a new stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in the first quarter, HoldingsChannel reports. The institutional investor acquired 523,457 shares of the pharmacy operator’s stock, valued at approximately $28,738,000. Walgreens Boots Alliance comprises 3.2% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 18th largest holding.

Other large investors also recently made changes to their positions in the company. Bogart Wealth LLC grew its stake in shares of Walgreens Boots Alliance by 280.1% during the 1st quarter. Bogart Wealth LLC now owns 517 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 381 shares during the period. Johnson Midwest Financial LLC bought a new position in shares of Walgreens Boots Alliance during the 4th quarter valued at approximately $26,000. Charter Oak Capital Management LLC bought a new position in Walgreens Boots Alliance in the 4th quarter worth approximately $27,000. Krane Funds Advisors LLC bought a new position in Walgreens Boots Alliance in the 4th quarter worth approximately $28,000. Finally, McCarthy Asset Management Inc. bought a new position in Walgreens Boots Alliance in the 4th quarter worth approximately $32,000. Institutional investors own 55.96% of the company’s stock.

NASDAQ WBA opened at $54.16 on Tuesday. The stock’s fifty day moving average is $53.54 and its two-hundred day moving average is $46.05. The firm has a market capitalization of $46.82 billion, a P/E ratio of 108.60, a price-to-earnings-growth ratio of 1.52 and a beta of 0.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.32 and a current ratio of 0.67. Walgreens Boots Alliance, Inc. has a fifty-two week low of $33.36 and a fifty-two week high of $57.05.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Tuesday, March 30th. The pharmacy operator reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.30. Walgreens Boots Alliance had a return on equity of 18.33% and a net margin of 0.33%. The company had revenue of $32.78 billion for the quarter, compared to analyst estimates of $36.16 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Walgreens Boots Alliance, Inc. will post 4.84 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 11th. Shareholders of record on Friday, May 21st will be given a $0.4675 dividend. The ex-dividend date is Thursday, May 20th. This represents a $1.87 dividend on an annualized basis and a yield of 3.45%. Walgreens Boots Alliance’s dividend payout ratio is currently 39.45%.

Several research firms have weighed in on WBA. Guggenheim upgraded Walgreens Boots Alliance from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday, January 11th. Cowen increased their target price on Walgreens Boots Alliance from $41.00 to $53.00 and gave the stock a “market perform” rating in a research note on Monday, March 29th. Morgan Stanley raised their price objective on Walgreens Boots Alliance from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 20th. Credit Suisse Group lifted their price target on Walgreens Boots Alliance from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, April 1st. Finally, TheStreet upgraded Walgreens Boots Alliance from a “c” rating to a “b-” rating in a research report on Wednesday, March 31st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.06.

Walgreens Boots Alliance Profile

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and beauty retail company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores.

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Institutional Ownership by Quarter for Walgreens Boots Alliance (NASDAQ:WBA)

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