Walgreens Boots Alliance (WBA) Upgraded to B at TheStreet
Walgreens Boots Alliance (NASDAQ:WBA) was upgraded by TheStreet from a “c+” rating to a “b” rating in a research note issued on Wednesday.
A number of other equities research analysts also recently issued reports on WBA. BidaskClub raised Walgreens Boots Alliance from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird upped their target price on Walgreens Boots Alliance from $64.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday. Cowen downgraded Walgreens Boots Alliance from an “outperform” rating to a “market perform” rating and set a $104.00 target price for the company. in a research report on Monday, July 23rd. Citigroup downgraded Walgreens Boots Alliance from a “buy” rating to a “neutral” rating and set a $69.00 target price for the company. in a research report on Monday, July 9th. Finally, Pivotal Research decreased their target price on Walgreens Boots Alliance from $70.00 to $60.00 and set a “hold” rating for the company in a research report on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $76.61.
Shares of NASDAQ:WBA traded down $0.15 during midday trading on Wednesday, reaching $70.33. The company’s stock had a trading volume of 48,567 shares, compared to its average volume of 4,756,452. The company has a market cap of $69.85 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.07 and a beta of 1.09. The company has a quick ratio of 0.47, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. Walgreens Boots Alliance has a 1 year low of $59.07 and a 1 year high of $83.74.
In related news, insider Stefano Pessina purchased 1,697,438 shares of the company’s stock in a transaction dated Monday, July 16th. The shares were acquired at an average cost of $63.92 per share, for a total transaction of $108,500,236.96. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $65.99, for a total value of $180,548.64. Following the sale, the director now owns 10,943 shares in the company, valued at $722,128.57. The disclosure for this sale can be found here. Corporate insiders own 14.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Archford Capital Strategies LLC acquired a new stake in shares of Walgreens Boots Alliance during the 1st quarter worth approximately $115,000. BlueMountain Capital Management LLC acquired a new stake in shares of Walgreens Boots Alliance during the 2nd quarter worth approximately $103,000. CSat Investment Advisory L.P. acquired a new stake in shares of Walgreens Boots Alliance during the 2nd quarter worth approximately $104,000. Squar Milner Financial Services LLC acquired a new stake in shares of Walgreens Boots Alliance during the 2nd quarter worth approximately $106,000. Finally, Kaizen Advisory LLC raised its position in shares of Walgreens Boots Alliance by 128.6% during the 2nd quarter. Kaizen Advisory LLC now owns 1,925 shares of the pharmacy operator’s stock worth $116,000 after purchasing an additional 1,083 shares during the period. Institutional investors and hedge funds own 61.98% of the company’s stock.
Walgreens Boots Alliance Company Profile
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 general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics.
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