Bahl & Gaynor Inc. Has $16.49 Million Stake in Walgreens Boots Alliance, Inc. (WBA)
Bahl & Gaynor Inc. grew its position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,248 shares of the pharmacy operator’s stock after purchasing an additional 3,383 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Walgreens Boots Alliance were worth $16,490,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in WBA. Franklin Resources Inc. raised its stake in Walgreens Boots Alliance by 24.7% during the 2nd quarter. Franklin Resources Inc. now owns 18,502,701 shares of the pharmacy operator’s stock worth $1,448,939,000 after acquiring an additional 3,662,302 shares in the last quarter. Nordea Investment Management AB raised its stake in Walgreens Boots Alliance by 26.5% during the 1st quarter. Nordea Investment Management AB now owns 9,154,328 shares of the pharmacy operator’s stock worth $760,267,000 after acquiring an additional 1,917,082 shares in the last quarter. Wellington Management Group LLP raised its stake in Walgreens Boots Alliance by 5.9% during 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 acquiring an additional 1,824,300 shares in the last quarter. American Century Companies Inc. raised its stake in Walgreens Boots Alliance by 1,145.3% during the 2nd quarter. American Century Companies Inc. now owns 1,304,168 shares of the pharmacy operator’s stock worth $102,129,000 after acquiring an additional 1,199,442 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Walgreens Boots Alliance by 22.4% during the 1st quarter. TIAA CREF Investment Management LLC now owns 5,269,500 shares of the pharmacy operator’s stock worth $437,632,000 after acquiring an additional 962,959 shares in the last quarter. Hedge funds and other institutional investors own 63.79% of the company’s stock.
Several brokerages recently commented on WBA. Needham & Company LLC set a $94.00 price target on shares of Walgreens Boots Alliance and gave the stock a “buy” rating in a research note on Monday, July 17th. Loop Capital set a $90.00 price objective on shares of Walgreens Boots Alliance and gave the company a “buy” rating in a research note on Thursday, October 26th. BidaskClub upgraded shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research note on Friday. Royal Bank Of Canada assumed coverage on shares of Walgreens Boots Alliance in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $96.00 price objective on the stock. Finally, Robert W. Baird restated an “outperform” rating and issued a $80.00 price objective (down from $90.00) on shares of Walgreens Boots Alliance in a research note on Thursday, October 19th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $87.63.
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In related news, Director John Anthony Lederer acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were purchased at an average price of $67.00 per share, with a total value of $1,340,000.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at $3,350,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Foote sold 2,736 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total transaction of $184,324.32. Following the sale, the director now directly owns 16,415 shares in the company, valued at approximately $1,105,878.55. The disclosure for this sale can be found here. 13.50% of the stock is currently owned by insiders.
Shares of Walgreens Boots Alliance, Inc. (NASDAQ WBA) opened at $70.99 on Friday. The company has a market cap of $70,204.04, a PE ratio of 13.64, a P/E/G ratio of 1.24 and a beta of 1.20. Walgreens Boots Alliance, Inc. has a fifty-two week low of $63.82 and a fifty-two week high of $88.00. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45.
Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Wednesday, October 25th. The pharmacy operator reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.10. The firm had revenue of $30.15 billion for the quarter, compared to the consensus estimate of $29.93 billion. Walgreens Boots Alliance had a net margin of 3.45% and a return on equity of 18.36%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. analysts forecast that Walgreens Boots Alliance, Inc. will post 5.55 EPS for the current year.
Walgreens Boots Alliance announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 13th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, November 10th. Walgreens Boots Alliance’s dividend payout ratio is currently 42.33%.
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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