CIBC World Markets Inc. Takes Position in Walgreens Boots Alliance, Inc. (WBA)
CIBC World Markets Inc. purchased a new stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,243 shares of the pharmacy operator’s stock, valued at approximately $2,682,000.
Several other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in shares of Walgreens Boots Alliance by 1.8% in the first quarter. State Street Corp now owns 37,612,843 shares of the pharmacy operator’s stock valued at $3,123,757,000 after buying an additional 677,743 shares during the period. Wellington Management Group LLP grew its stake in Walgreens Boots Alliance by 5.9% during the first 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 period. Nordea Investment Management AB grew its stake in Walgreens Boots Alliance by 26.5% during the first quarter. Nordea Investment Management AB now owns 9,154,328 shares of the pharmacy operator’s stock worth $760,267,000 after purchasing an additional 1,917,082 shares during the period. TIAA CREF Investment Management LLC grew its stake in Walgreens Boots Alliance by 22.4% during the first quarter. TIAA CREF Investment Management LLC now owns 5,269,500 shares of the pharmacy operator’s stock worth $437,632,000 after purchasing an additional 962,959 shares during the period. Finally, Legal & General Group Plc grew its stake in Walgreens Boots Alliance by 5.2% during the second quarter. Legal & General Group Plc now owns 4,550,856 shares of the pharmacy operator’s stock worth $356,368,000 after purchasing an additional 223,186 shares during the period. 60.24% of the stock is owned by institutional investors.
Shares of Walgreens Boots Alliance, Inc. (NASDAQ WBA) opened at $66.87 on Friday. The company has a market capitalization of $67,508.55, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.19 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 issued its earnings results on Wednesday, October 25th. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.10. The firm had revenue of $30.15 billion for 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 business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. analysts anticipate that Walgreens Boots Alliance, Inc. will post 5.55 EPS for the current fiscal year.
Walgreens Boots Alliance declared that its board has initiated a share repurchase program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the pharmacy operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. Walgreens Boots Alliance’s payout ratio is presently 42.33%.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Citigroup Inc. decreased their target price on Walgreens Boots Alliance from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday. Credit Suisse Group reaffirmed a “buy” rating and set a $97.00 target price on shares of Walgreens Boots Alliance in a research note on Thursday, July 13th. Jefferies Group LLC set a $93.00 target price on Walgreens Boots Alliance and gave the stock a “buy” rating in a research note on Sunday, October 29th. Finally, Pivotal Research decreased their target price on Walgreens Boots Alliance from $85.00 to $73.00 and set a “hold” rating for the company in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Walgreens Boots Alliance presently has a consensus rating of “Buy” and an average target price of $87.63.
In other Walgreens Boots Alliance news, Director John Anthony Lederer bought 20,000 shares of Walgreens Boots Alliance stock in a transaction that occurred on Thursday, October 26th. The stock was acquired at an average cost of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the transaction, the director now directly 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 accessible through this hyperlink. 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 value of $184,324.32. Following the transaction, the director now owns 16,415 shares of the company’s stock, valued at $1,105,878.55. The disclosure for this sale can be found here. Insiders own 13.50% of the company’s stock.
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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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