Manitou Investment Management Ltd. cut its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 474,137 shares of the pharmacy operator’s stock after selling 158,358 shares during the period. Walgreens Boots Alliance accounts for about 6.3% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 5th biggest position. Manitou Investment Management Ltd. owned approximately 0.05% of Walgreens Boots Alliance worth $26,225,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in WBA. NEXT Financial Group Inc raised its stake in shares of Walgreens Boots Alliance by 27.8% during the second quarter. NEXT Financial Group Inc now owns 2,663 shares of the pharmacy operator’s stock worth $145,000 after buying an additional 580 shares during the last quarter. First National Bank of South Miami grew its holdings in Walgreens Boots Alliance by 3.0% during the second quarter. First National Bank of South Miami now owns 10,386 shares of the pharmacy operator’s stock valued at $566,000 after purchasing an additional 303 shares during the period. Synovus Financial Corp grew its holdings in Walgreens Boots Alliance by 3.6% during the second quarter. Synovus Financial Corp now owns 16,177 shares of the pharmacy operator’s stock valued at $883,000 after purchasing an additional 555 shares during the period. H D Vest Advisory Services acquired a new position in Walgreens Boots Alliance during the second quarter valued at approximately $236,000. Finally, Cornerstone Advisors Inc. grew its holdings in Walgreens Boots Alliance by 131.6% during the second quarter. Cornerstone Advisors Inc. now owns 894 shares of the pharmacy operator’s stock valued at $49,000 after purchasing an additional 508 shares during the period. 60.60% of the stock is owned by institutional investors.
In other Walgreens Boots Alliance news, CAO Marco Patrick Anthony Pagni sold 215,323 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $50.48, for a total transaction of $10,869,505.04. Following the sale, the chief accounting officer now directly owns 357,851 shares in the company, valued at $18,064,318.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.73% of the company’s stock.
WBA traded up $0.57 during trading hours on Friday, hitting $59.24. 5,450,000 shares of the company’s stock were exchanged, compared to its average volume of 5,855,335. The company has a quick ratio of 0.36, a current ratio of 0.73 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $55.10 and its two-hundred day moving average is $53.53. Walgreens Boots Alliance Inc has a 1-year low of $49.03 and a 1-year high of $86.31. The stock has a market cap of $54.63 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.53 and a beta of 0.87.
Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Monday, October 28th. The pharmacy operator reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.02. Walgreens Boots Alliance had a net margin of 2.91% and a return on equity of 21.99%. The business had revenue of $33.95 billion for the quarter, compared to the consensus estimate of $33.88 billion. During the same period in the prior year, the company posted $1.48 earnings per share. Walgreens Boots Alliance’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Walgreens Boots Alliance Inc will post 5.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.458 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.83 dividend on an annualized basis and a yield of 3.09%. Walgreens Boots Alliance’s payout ratio is 30.55%.
A number of research analysts recently issued reports on WBA shares. BidaskClub upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Walgreens Boots Alliance from $61.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. ValuEngine upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Cleveland Research restated a “hold” rating on shares of Walgreens Boots Alliance in a report on Monday, September 9th. Finally, Bank of America decreased their price objective on shares of Walgreens Boots Alliance from $51.00 to $50.00 and set an “underperform” rating for the company in a report on Thursday, October 3rd. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $61.35.
About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.
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