Walgreens Boots Alliance, Inc. (NASDAQ:WBA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Wednesday, October 25th. They presently have a $88.00 price target on the pharmacy operator’s stock. Royal Bank of Canada’s target price indicates a potential upside of 23.96% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. Needham & Company LLC set a $94.00 price objective on Walgreens Boots Alliance and gave the stock a “buy” rating in a report on Monday, July 17th. Pivotal Research set a $85.00 price target on Walgreens Boots Alliance and gave the company a “hold” rating in a report on Sunday, July 2nd. Guggenheim reiterated a “buy” rating on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. Morgan Stanley reiterated an “overweight” rating and set a $95.00 price target on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Walgreens Boots Alliance in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $87.63.
Walgreens Boots Alliance (NASDAQ WBA) traded up $1.45 during mid-day trading on Wednesday, reaching $70.99. 12,380,900 shares of the company’s stock were exchanged, compared to its average volume of 5,343,083. The stock has a market capitalization of $70,204.04, a price-to-earnings ratio of 13.64, a PEG ratio of 1.24 and a beta of 1.20. Walgreens Boots Alliance has a 52 week low of $63.82 and a 52 week high of $88.00. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 0.45.
Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. The company had revenue of $30.15 billion for 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 prior year, the company earned $1.07 EPS. analysts forecast that Walgreens Boots Alliance will post 5.55 EPS for the current year.
Walgreens Boots Alliance declared that its board has authorized a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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In other news, Director John Anthony Lederer purchased 20,000 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, October 26th. The stock was acquired at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $3,350,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William C. Foote sold 2,736 shares of the company’s 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 sale, the director now 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 insiders.
Several large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings 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 worth $1,448,939,000 after purchasing an additional 3,662,302 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Walgreens Boots Alliance by 471.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,295,583 shares of the pharmacy operator’s stock worth $258,077,000 after purchasing an additional 2,718,800 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 worth $5,480,577,000 after purchasing an additional 1,926,108 shares in the last quarter. Nordea Investment Management AB increased its holdings in Walgreens Boots Alliance by 26.5% in the 1st quarter. Nordea Investment Management AB now owns 9,154,328 shares of the pharmacy operator’s stock worth $760,267,000 after purchasing an additional 1,917,082 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings 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 worth $2,727,932,000 after purchasing an additional 1,824,300 shares in the last quarter. Hedge funds and other institutional investors own 63.79% of the company’s stock.
Walgreens Boots Alliance Company 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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