Municipal Employees Retirement System of Michigan lowered its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 30.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,750 shares of the pharmacy operator’s stock after selling 17,400 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Walgreens Boots Alliance were worth $2,886,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in WBA. Westside Investment Management Inc. grew its stake in Walgreens Boots Alliance by 10.4% in the 2nd quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock worth $102,000 after acquiring an additional 125 shares in the last quarter. Zions Bancorporation boosted its stake in shares of Walgreens Boots Alliance by 983.3% during the third quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,239 shares in the last quarter. Financial Advocates Investment Management bought a new position in shares of Walgreens Boots Alliance during the fourth quarter valued at approximately $125,000. IHT Wealth Management LLC boosted its stake in shares of Walgreens Boots Alliance by 46.3% during the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock valued at $135,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Bristlecone Advisors LLC acquired a new stake in Walgreens Boots Alliance in the third quarter valued at approximately $135,000. Institutional investors and hedge funds own 60.94% of the company’s stock.
In related news, insider Stefano Pessina bought 98,858 shares of the stock in a transaction dated Monday, January 15th. The stock was acquired at an average price of $76.07 per share, for a total transaction of $7,520,128.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 14.80% of the company’s stock.
A number of research firms have issued reports on WBA. Bank of America began coverage on shares of Walgreens Boots Alliance in a report on Tuesday, February 27th. They issued a “neutral” rating and a $76.00 price target for the company. Pivotal Research reduced their target price on shares of Walgreens Boots Alliance from $73.00 to $69.00 and set a “hold” rating for the company in a report on Friday, March 23rd. Zacks Investment Research upgraded shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Wednesday, February 14th. Jefferies Group set a $85.00 price target on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a research report on Tuesday. Finally, BidaskClub lowered shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $83.20.
NASDAQ WBA traded down $1.18 on Friday, hitting $63.47. 5,035,466 shares of the stock were exchanged, compared to its average volume of 6,142,137. The company has a quick ratio of 0.45, a current ratio of 0.90 and a debt-to-equity ratio of 0.44. Walgreens Boots Alliance Inc has a fifty-two week low of $61.74 and a fifty-two week high of $87.79. The stock has a market capitalization of $64,111.18, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16.
Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings results on Wednesday, March 28th. The pharmacy operator reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Walgreens Boots Alliance had a net margin of 3.33% and a return on equity of 20.38%. The company had revenue of $33.02 billion during the quarter, compared to analysts’ expectations of $32.20 billion. During the same quarter in the previous year, the business posted $1.36 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. equities research analysts expect that Walgreens Boots Alliance Inc will post 5.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, February 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Wednesday, February 14th. Walgreens Boots Alliance’s payout ratio is 31.37%.
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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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