CIBC Asset Management Inc Increases Position in Walgreens Boots Alliance, Inc. (WBA)
CIBC Asset Management Inc increased its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 136,740 shares of the pharmacy operator’s stock after acquiring an additional 3,708 shares during the period. CIBC Asset Management Inc’s holdings in Walgreens Boots Alliance were worth $10,708,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in WBA. Waldron LP grew its position in Walgreens Boots Alliance by 67.7% in the first quarter. Waldron LP now owns 4,500 shares of the pharmacy operator’s stock worth $373,000 after acquiring an additional 1,816 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in Walgreens Boots Alliance by 171.0% during the first quarter. Chickasaw Capital Management LLC now owns 17,345 shares of the pharmacy operator’s stock valued at $1,441,000 after buying an additional 10,945 shares during the period. Adviser Investments LLC purchased a new stake in Walgreens Boots Alliance during the first quarter valued at about $684,000. Janney Montgomery Scott LLC boosted its position in Walgreens Boots Alliance by 11.8% during the first quarter. Janney Montgomery Scott LLC now owns 182,692 shares of the pharmacy operator’s stock valued at $15,173,000 after buying an additional 19,228 shares during the period. Finally, Shell Asset Management Co. boosted its position in Walgreens Boots Alliance by 0.3% during the first quarter. Shell Asset Management Co. now owns 115,428 shares of the pharmacy operator’s stock valued at $9,586,000 after buying an additional 391 shares during the period. Institutional investors own 60.18% of the company’s stock.
In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total value of $218,305.44. Following the completion of the sale, the director now directly owns 19,151 shares of the company’s stock, valued at approximately $1,528,058.29. The transaction was disclosed in a filing with the SEC, which is available through this link. 13.50% of the stock is owned by insiders.
WBA has been the subject of several analyst reports. Zacks Investment Research lowered shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Loop Capital initiated coverage on shares of Walgreens Boots Alliance in a research report on Thursday, August 24th. They set a “buy” rating and a $95.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $94.00 price target on shares of Walgreens Boots Alliance in a research report on Sunday, September 10th. Jefferies Group LLC cut their price target on shares of Walgreens Boots Alliance from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 31st. Finally, BidaskClub lowered shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $91.81.
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) opened at 82.50 on Monday. The company has a 50-day moving average of $81.26 and a 200-day moving average of $81.99. The company has a market capitalization of $88.28 billion, a P/E ratio of 20.83 and a beta of 1.26. Walgreens Boots Alliance, Inc. has a 1-year low of $75.18 and a 1-year high of $88.00.
Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.03. The company had revenue of $30.12 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Walgreens Boots Alliance had a net margin of 3.69% and a return on equity of 17.34%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 EPS. Equities analysts expect that Walgreens Boots Alliance, Inc. will post $5.00 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.94%. This is a boost from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 16th. Walgreens Boots Alliance’s payout ratio is 40.30%.
Walgreens Boots Alliance announced that its board has initiated a stock repurchase plan on Thursday, June 29th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the pharmacy operator to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Walgreens Boots Alliance 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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