Traders Sell Shares of Walgreens Boots Alliance, Inc. (WBA) on Strength on Analyst Downgrade
Traders sold shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) on strength during trading on Thursday after Needham & lowered their price target on the stock to $86.00. $54.20 million flowed into the stock on the tick-up and $83.27 million flowed out of the stock on the tick-down, for a money net flow of $29.07 million out of the stock. Of all equities tracked, Walgreens Boots Alliance had the 0th highest net out-flow for the day. Walgreens Boots Alliance traded up $0.17 for the day and closed at $71.33
A number of other research analysts also recently weighed in on the company. BidaskClub raised Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research note on Friday, November 10th. Citigroup Inc. cut their price objective on Walgreens Boots Alliance from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Leerink Swann downgraded Walgreens Boots Alliance from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Jefferies Group LLC set a $93.00 price objective on Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $87.21.
In related news, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total value of $184,324.32. Following the sale, the director now owns 16,415 shares of the company’s stock, valued at approximately $1,105,878.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Anthony Lederer purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was bought at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the purchase, the director now owns 50,000 shares in the company, valued at $3,350,000. The disclosure for this purchase can be found here. 13.50% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 during the last quarter. State Street Corp raised its position in Walgreens Boots Alliance by 1.8% in the 1st quarter. State Street Corp now owns 37,612,843 shares of the pharmacy operator’s stock valued at $3,123,757,000 after purchasing an additional 677,743 shares during the last quarter. Wellington Management Group LLP raised its position in Walgreens Boots Alliance by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock valued at $2,727,932,000 after purchasing an additional 1,824,300 shares during the last quarter. Franklin Resources Inc. raised its position in 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 during the last quarter. Finally, Nordea Investment Management AB raised its position in Walgreens Boots Alliance by 1.0% in the 3rd quarter. Nordea Investment Management AB now owns 10,182,388 shares of the pharmacy operator’s stock valued at $786,284,000 after purchasing an additional 96,552 shares during the last quarter. 63.35% of the stock is currently owned by institutional investors and hedge funds.
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 cap of $72,011.13, a PE ratio of 13.99, a PEG ratio of 1.27 and a beta of 1.20.
Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.10. The company had revenue of $30.15 billion during the quarter, compared to the consensus estimate of $29.93 billion. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. research analysts predict that Walgreens Boots Alliance, Inc. will post 5.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 13th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. Walgreens Boots Alliance’s payout ratio is currently 42.33%.
Walgreens Boots Alliance announced that its board has authorized a share repurchase program on Wednesday, October 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the pharmacy operator to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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