Walgreens Boots Alliance (NASDAQ:WBA) Lifted to “Outperform” at Cowen

Cowen upgraded shares of Walgreens Boots Alliance (NASDAQ:WBAGet Rating) from a market perform rating to an outperform rating in a research note published on Tuesday morning, The Fly reports. The brokerage currently has $54.00 price objective on the pharmacy operator’s stock, up from their prior price objective of $43.00.

Other equities analysts have also recently issued reports about the stock. UBS Group reduced their price objective on shares of Walgreens Boots Alliance from $40.00 to $37.00 and set a neutral rating for the company in a research report on Friday, October 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Walgreens Boots Alliance from a hold rating to a buy rating and upped their price objective for the stock from $41.00 to $50.00 in a research report on Friday, November 11th. Mizuho reduced their price objective on shares of Walgreens Boots Alliance to $36.00 in a research report on Thursday, October 13th. Credit Suisse Group dropped their price objective on shares of Walgreens Boots Alliance from $43.00 to $42.00 and set a neutral rating for the company in a report on Friday, October 14th. Finally, JPMorgan Chase & Co. raised shares of Walgreens Boots Alliance from a neutral rating to an overweight rating and set a $42.00 target price for the company in a research note on Friday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Walgreens Boots Alliance presently has an average rating of Hold and a consensus target price of $43.23.

Walgreens Boots Alliance Stock Down 0.1 %

WBA stock opened at $41.76 on Tuesday. The firm’s fifty day simple moving average is $35.36 and its 200-day simple moving average is $38.13. Walgreens Boots Alliance has a 12 month low of $30.39 and a 12 month high of $55.00. The company has a market capitalization of $36.11 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.75 and a quick ratio of 0.38.

Walgreens Boots Alliance (NASDAQ:WBAGet Rating) last posted its quarterly earnings data on Thursday, October 13th. The pharmacy operator reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $32.45 billion during the quarter, compared to analysts’ expectations of $32.17 billion. Walgreens Boots Alliance had a net margin of 3.27% and a return on equity of 14.39%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, equities research analysts forecast that Walgreens Boots Alliance will post 4.5 earnings per share for the current year.

Walgreens Boots Alliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Tuesday, November 15th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.92 annualized dividend and a yield of 4.60%. Walgreens Boots Alliance’s dividend payout ratio is currently 38.40%.

Insider Buying and Selling at Walgreens Boots Alliance

In other Walgreens Boots Alliance news, Director Nancy M. Schlichting sold 16,570 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $39.89, for a total value of $660,977.30. Following the transaction, the director now directly owns 5,515 shares of the company’s stock, valued at approximately $219,993.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Nancy M. Schlichting sold 16,570 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $39.89, for a total transaction of $660,977.30. Following the transaction, the director now directly owns 5,515 shares of the company’s stock, valued at approximately $219,993.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kevin M. Ban sold 10,303 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $40.19, for a total transaction of $414,077.57. Following the completion of the sale, the executive vice president now directly owns 27,916 shares in the company, valued at $1,121,944.04. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Walgreens Boots Alliance

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mutual of America Capital Management LLC grew its position in shares of Walgreens Boots Alliance by 0.8% during the first quarter. Mutual of America Capital Management LLC now owns 95,867 shares of the pharmacy operator’s stock worth $4,292,000 after buying an additional 749 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Walgreens Boots Alliance by 83.0% during the first quarter. Metis Global Partners LLC now owns 11,467 shares of the pharmacy operator’s stock worth $513,000 after buying an additional 5,200 shares in the last quarter. Venture Visionary Partners LLC grew its position in shares of Walgreens Boots Alliance by 3.8% during the first quarter. Venture Visionary Partners LLC now owns 12,722 shares of the pharmacy operator’s stock worth $569,000 after buying an additional 464 shares in the last quarter. Arizona State Retirement System grew its position in shares of Walgreens Boots Alliance by 0.3% during the first quarter. Arizona State Retirement System now owns 201,895 shares of the pharmacy operator’s stock worth $9,039,000 after buying an additional 527 shares in the last quarter. Finally, Shell Asset Management Co. grew its position in shares of Walgreens Boots Alliance by 5.3% during the first quarter. Shell Asset Management Co. now owns 56,524 shares of the pharmacy operator’s stock worth $2,531,000 after buying an additional 2,867 shares in the last quarter. Institutional investors and hedge funds own 57.33% of the company’s stock.

About Walgreens Boots Alliance

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Walgreens Boots Alliance, Inc operates as an integrated healthcare, pharmacy, and retailer in the United States (U.S.), the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores.

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