Walgreens Boots Alliance Inc. (NASDAQ:WBA)‘s stock had its “outperform” rating reissued by analysts at Robert W. Baird in a research report issued to clients and investors on Saturday. They presently have a $95.00 price target on the pharmacy operator’s stock. Robert W. Baird’s price objective points to a potential upside of 14.57% from the company’s previous close.
A number of other equities analysts also recently commented on the stock. Bank of America Corp. reaffirmed a “buy” rating and set a $94.00 target price on shares of Walgreens Boots Alliance in a research note on Tuesday, August 30th. Deutsche Bank AG lifted their target price on shares of Walgreens Boots Alliance from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, August 30th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Walgreens Boots Alliance in a research note on Friday, July 22nd. Leerink Swann reaffirmed an “outperform” rating on shares of Walgreens Boots Alliance in a research note on Tuesday, August 30th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $95.00 target price (up from $80.71) on shares of Walgreens Boots Alliance in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $93.13.
Shares of Walgreens Boots Alliance (NASDAQ:WBA) opened at 82.92 on Friday. Walgreens Boots Alliance has a 52-week low of $71.50 and a 52-week high of $95.74. The company’s 50-day moving average is $81.40 and its 200-day moving average is $81.14. The stock has a market cap of $89.75 billion, a PE ratio of 28.65 and a beta of 1.01.
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Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Wednesday, July 6th. The pharmacy operator reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. Walgreens Boots Alliance had a net margin of 2.70% and a return on equity of 15.56%. The company had revenue of $29.50 billion for the quarter. During the same period last year, the firm earned $1.02 earnings per share. Walgreens Boots Alliance’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that Walgreens Boots Alliance will post $4.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Wednesday, August 17th. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.36. Walgreens Boots Alliance’s payout ratio is currently 51.90%.
In related news, Director William C. Foote sold 2,067 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $81.35, for a total value of $168,150.45. Following the completion of the sale, the director now owns 26,690 shares in the company, valued at approximately $2,171,231.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kathleen Wilson-Thompson sold 29,695 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $83.00, for a total transaction of $2,464,685.00. The disclosure for this sale can be found here. Insiders own 21.10% of the company’s stock.
A number of hedge funds have added to or reduced their stakes in the stock. State Street Corp increased its stake in Walgreens Boots Alliance by 2.1% in the first quarter. State Street Corp now owns 36,198,072 shares of the pharmacy operator’s stock valued at $3,049,327,000 after buying an additional 746,698 shares during the period. Wellington Management Group LLP increased its stake in Walgreens Boots Alliance by 9.7% in the first quarter. Wellington Management Group LLP now owns 26,167,061 shares of the pharmacy operator’s stock valued at $2,204,313,000 after buying an additional 2,317,093 shares during the period. Norges Bank acquired a new stake in Walgreens Boots Alliance during the fourth quarter valued at approximately $654,266,000. Geode Capital Management LLC increased its stake in Walgreens Boots Alliance by 3.0% in the first quarter. Geode Capital Management LLC now owns 7,602,662 shares of the pharmacy operator’s stock valued at $639,250,000 after buying an additional 223,243 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Walgreens Boots Alliance by 602.0% in the first quarter. Canada Pension Plan Investment Board now owns 6,665,630 shares of the pharmacy operator’s stock valued at $561,513,000 after buying an additional 5,716,161 shares during the period. Hedge funds and other institutional investors own 59.87% of the company’s stock.
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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