Walgreens Boots Alliance (NASDAQ:WBA) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Walgreens Boots Alliance (NASDAQ:WBAGet Rating) from a hold rating to a buy rating in a research note published on Friday morning.

Other research analysts have also recently issued reports about the stock. Cowen dropped their price objective on shares of Walgreens Boots Alliance from $55.00 to $50.00 in a research note on Tuesday, April 12th. Robert W. Baird lowered shares of Walgreens Boots Alliance from an outperform rating to a neutral rating and decreased their target price for the stock from $70.00 to $51.00 in a research report on Friday, April 1st. Barclays decreased their target price on shares of Walgreens Boots Alliance from $54.00 to $50.00 and set an equal weight rating on the stock in a research report on Friday, April 1st. UBS Group decreased their target price on shares of Walgreens Boots Alliance from $52.00 to $49.00 and set a neutral rating on the stock in a research report on Tuesday, April 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Walgreens Boots Alliance from $52.00 to $46.00 and set a hold rating on the stock in a research report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $50.71.

Shares of WBA opened at $43.55 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.74 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $45.47 and a 200-day simple moving average of $47.94. Walgreens Boots Alliance has a 1-year low of $41.80 and a 1-year high of $55.96. The stock has a market cap of $37.62 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 2.36 and a beta of 0.55.

Walgreens Boots Alliance (NASDAQ:WBAGet Rating) last issued its quarterly earnings data on Thursday, March 31st. The pharmacy operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.20. Walgreens Boots Alliance had a net margin of 4.62% and a return on equity of 19.15%. The business had revenue of $33.76 billion during the quarter, compared to analysts’ expectations of $33.33 billion. During the same period last year, the company posted $1.40 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that Walgreens Boots Alliance will post 5.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 20th will be issued a $0.4775 dividend. The ex-dividend date is Thursday, May 19th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.39%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently 26.34%.

In other Walgreens Boots Alliance news, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of Walgreens Boots Alliance stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $150.00, for a total value of $900,000,000.00. Following the transaction, the insider now owns 52,854,867 shares in the company, valued at approximately $7,928,230,050. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.40% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System increased its stake in Walgreens Boots Alliance by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 91,000 shares of the pharmacy operator’s stock worth $4,746,000 after buying an additional 1,600 shares during the period. Tectonic Advisors LLC increased its stake in Walgreens Boots Alliance by 19.8% during the 4th quarter. Tectonic Advisors LLC now owns 5,142 shares of the pharmacy operator’s stock worth $268,000 after buying an additional 849 shares during the period. Frontier Wealth Management LLC increased its stake in Walgreens Boots Alliance by 9.3% during the 4th quarter. Frontier Wealth Management LLC now owns 24,854 shares of the pharmacy operator’s stock worth $1,296,000 after buying an additional 2,122 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Walgreens Boots Alliance during the 4th quarter worth $990,000. Finally, NorthCoast Asset Management LLC increased its stake in Walgreens Boots Alliance by 54.7% during the 3rd quarter. NorthCoast Asset Management LLC now owns 65,486 shares of the pharmacy operator’s stock worth $3,083,000 after buying an additional 23,158 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Walgreens Boots Alliance Company Profile (Get Rating)

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and beauty retail company. It operates through two segments, the United States and International. The United States 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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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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