Analysts Set Walgreens Boots Alliance, Inc. (WBA) Target Price at $87.00
Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) have received a consensus recommendation of “Buy” from the twenty-three analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $87.00.
WBA has been the subject of several research analyst reports. Jefferies Group LLC restated a “buy” rating and set a $95.00 price target on shares of Walgreens Boots Alliance in a research note on Wednesday, September 20th. Needham & Company LLC set a $94.00 price target on Walgreens Boots Alliance and gave the stock a “buy” rating in a research note on Monday, July 17th. Credit Suisse Group restated a “buy” rating and set a $97.00 price target on shares of Walgreens Boots Alliance in a research note on Thursday, July 13th. Loop Capital initiated coverage on Walgreens Boots Alliance in a research note on Thursday, August 24th. They set a “buy” rating and a $95.00 price target for the company. Finally, UBS AG restated a “buy” rating and set a $96.00 price target (down from $97.00) on shares of Walgreens Boots Alliance in a research note on Wednesday, August 23rd.
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Shares of Walgreens Boots Alliance (WBA) traded up $0.64 during trading hours on Monday, reaching $69.54. The company’s stock had a trading volume of 7,893,328 shares, compared to its average volume of 9,918,977. The firm has a market capitalization of $68,568.57, a price-to-earnings ratio of 13.32, a PEG ratio of 1.21 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.59. Walgreens Boots Alliance has a 12 month low of $63.82 and a 12 month high of $88.00.
Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. The company had revenue of $30.15 billion during the quarter, compared to analyst estimates of $29.93 billion. Walgreens Boots Alliance had a return on equity of 18.36% and a net margin of 3.45%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. research analysts predict that Walgreens Boots Alliance will post 5.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 13th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, November 10th. Walgreens Boots Alliance’s dividend payout ratio is currently 42.33%.
Walgreens Boots Alliance declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the pharmacy operator to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total transaction of $184,324.32. Following the transaction, the director now owns 16,415 shares of the company’s stock, valued at approximately $1,105,878.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Anthony Lederer bought 20,000 shares of Walgreens Boots Alliance stock in a transaction on Thursday, October 26th. The shares were purchased at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $3,350,000. The disclosure for this purchase can be found here. Corporate insiders own 13.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Walgreens Boots Alliance by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 69,985,653 shares of the pharmacy operator’s stock worth $5,480,577,000 after purchasing an additional 1,926,108 shares during the last quarter. State Street Corp lifted its holdings in shares of Walgreens Boots Alliance by 1.8% in the 1st quarter. State Street Corp now owns 37,612,843 shares of the pharmacy operator’s stock worth $3,123,757,000 after purchasing an additional 677,743 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Walgreens Boots Alliance by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 32,846,862 shares of the pharmacy operator’s stock worth $2,727,932,000 after purchasing an additional 1,824,300 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Walgreens Boots Alliance by 24.7% in the 2nd quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock worth $1,448,939,000 after purchasing an additional 3,662,302 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Walgreens Boots Alliance by 1.0% in the 3rd quarter. Nordea Investment Management AB now owns 10,182,388 shares of the pharmacy operator’s stock worth $786,284,000 after purchasing an additional 96,552 shares during the last quarter. 63.79% of the stock is currently owned by 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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