Walgreens Boots Alliance’s (WBA) Buy Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in a research report report published on Wednesday morning. They currently have a $95.00 price objective on the pharmacy operator’s stock.
Several other research analysts have also weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Walgreens Boots Alliance in a research note on Tuesday. They issued an outperform rating and a $96.00 price objective on the stock. Needham & Company LLC reissued a buy rating and issued a $94.00 target price on shares of Walgreens Boots Alliance in a research report on Saturday, September 16th. BidaskClub downgraded shares of Walgreens Boots Alliance from a hold rating to a sell rating in a research report on Tuesday, September 12th. Loop Capital assumed coverage on shares of Walgreens Boots Alliance in a research report on Thursday, August 24th. They issued a buy rating and a $95.00 target price for the company. Finally, UBS AG reissued a buy rating and issued a $96.00 target price (down from $97.00) on shares of Walgreens Boots Alliance in a research report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $92.06.
Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, June 29th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. The firm had revenue of $30.12 billion for the quarter, compared to analyst estimates of $29.72 billion. Walgreens Boots Alliance had a net margin of 3.69% and a return on equity of 17.34%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 EPS.
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Walgreens Boots Alliance announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 29th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the pharmacy operator to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, August 16th. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Walgreens Boots Alliance’s dividend payout ratio is 40.30%.
In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $79.79, for a total value of $218,305.44. Following the completion of the sale, the director now directly owns 19,151 shares of the company’s stock, valued at approximately $1,528,058.29. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of WBA. Waldron LP boosted its holdings in Walgreens Boots Alliance by 67.7% in the 1st quarter. Waldron LP now owns 4,500 shares of the pharmacy operator’s stock valued at $373,000 after purchasing an additional 1,816 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Walgreens Boots Alliance by 11.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 182,692 shares of the pharmacy operator’s stock valued at $15,173,000 after buying an additional 19,228 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of Walgreens Boots Alliance by 0.3% in the 1st quarter. Shell Asset Management Co. now owns 115,428 shares of the pharmacy operator’s stock valued at $9,586,000 after buying an additional 391 shares in the last quarter. K.J. Harrison & Partners Inc raised its stake in shares of Walgreens Boots Alliance by 3.5% in the 1st quarter. K.J. Harrison & Partners Inc now owns 55,140 shares of the pharmacy operator’s stock valued at $4,579,000 after buying an additional 1,870 shares in the last quarter. Finally, Mondrian Investment Partners LTD raised its stake in shares of Walgreens Boots Alliance by 15.5% in the 1st quarter. Mondrian Investment Partners LTD now owns 667,708 shares of the pharmacy operator’s stock valued at $55,453,000 after buying an additional 89,809 shares in the last quarter. 60.16% of the stock is owned by hedge funds and other institutional investors.
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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