Traders Buy Shares of Walgreens Boots Alliance, Inc. (WBA) on Weakness
Investors purchased shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) on weakness during trading on Monday. $107.76 million flowed into the stock on the tick-up and $80.07 million flowed out of the stock on the tick-down, for a money net flow of $27.69 million into the stock. Of all stocks tracked, Walgreens Boots Alliance had the 11th highest net in-flow for the day. Walgreens Boots Alliance traded down ($0.47) for the day and closed at $70.78
A number of equities analysts have commented on WBA shares. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Wednesday, September 27th. BidaskClub raised shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Leerink Swann cut shares of Walgreens Boots Alliance from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. Loop Capital set a $90.00 price objective on shares of Walgreens Boots Alliance and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, SunTrust Banks, Inc. set a $72.00 price objective on shares of Walgreens Boots Alliance and gave the stock a “hold” rating in a research report on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Walgreens Boots Alliance currently has a consensus rating of “Buy” and an average target price of $87.63.
The firm has a market cap of $71,840.00, a P/E ratio of 13.88, a PEG ratio of 1.26 and a beta of 1.20. 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 (NASDAQ:WBA) last announced its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.10. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. The business had revenue of $30.15 billion for the quarter, compared to analysts’ expectations of $29.93 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. equities analysts anticipate that Walgreens Boots Alliance, Inc. will post 5.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, November 10th. Walgreens Boots Alliance’s payout ratio is 42.33%.
Walgreens Boots Alliance declared that its board has initiated a share repurchase program on Wednesday, October 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the pharmacy operator to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In related news, Director John Anthony Lederer purchased 20,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was acquired at an average cost of $67.00 per share, with a total value of $1,340,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $3,350,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Foote sold 2,736 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total value of $184,324.32. Following the completion of the sale, the director now directly owns 16,415 shares of the company’s stock, valued at $1,105,878.55. The disclosure for this sale can be found here. 13.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia increased its position in shares of Walgreens Boots Alliance by 139.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 46,167 shares of the pharmacy operator’s stock valued at $3,614,000 after purchasing an additional 26,893 shares during the last quarter. IBM Retirement Fund grew its stake in shares of Walgreens Boots Alliance by 88.1% during the 2nd quarter. IBM Retirement Fund now owns 22,903 shares of the pharmacy operator’s stock worth $2,004,000 after acquiring an additional 10,729 shares during the period. Andra AP fonden grew its stake in shares of Walgreens Boots Alliance by 35.3% during the 2nd quarter. Andra AP fonden now owns 58,300 shares of the pharmacy operator’s stock worth $4,565,000 after acquiring an additional 15,200 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Walgreens Boots Alliance by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,019,739 shares of the pharmacy operator’s stock worth $236,476,000 after acquiring an additional 154,995 shares during the period. Finally, Birinyi Associates Inc. grew its stake in shares of Walgreens Boots Alliance by 9.0% during the 2nd quarter. Birinyi Associates Inc. now owns 9,100 shares of the pharmacy operator’s stock worth $713,000 after acquiring an additional 750 shares during the period. 63.35% of the stock is owned by institutional investors and hedge funds.
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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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