Walgreens Boots Alliance (NASDAQ:WBA) Issues Earnings Results, Beats Expectations By $0.38 EPS

Walgreens Boots Alliance (NASDAQ:WBA) released its quarterly earnings results on Thursday. The pharmacy operator reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.38, Briefing.com reports. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. The company had revenue of $37.05 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period last year, the company earned $1.16 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Walgreens Boots Alliance updated its FY24 guidance to $3.20-3.35 EPS and its FY 2024 guidance to 3.200-3.350 EPS.

Walgreens Boots Alliance Trading Up 3.2 %

Shares of WBA stock traded up $0.67 during trading hours on Friday, reaching $21.69. 32,886,762 shares of the company’s stock were exchanged, compared to its average volume of 10,444,230. Walgreens Boots Alliance has a fifty-two week low of $19.68 and a fifty-two week high of $36.58. The business has a fifty day moving average price of $21.71 and a 200-day moving average price of $22.27. The company has a quick ratio of 0.30, a current ratio of 0.66 and a debt-to-equity ratio of 0.50.

Walgreens Boots Alliance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.61%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently -14.29%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HSBC restated a “reduce” rating and issued a $20.00 price target (down previously from $27.00) on shares of Walgreens Boots Alliance in a report on Tuesday, February 20th. Bank of America decreased their price target on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday. SVB Leerink decreased their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, March 18th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a report on Monday, February 26th. Finally, Barclays initiated coverage on Walgreens Boots Alliance in a research note on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 target price on the stock. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.00.

Insider Transactions at Walgreens Boots Alliance

In other news, CEO Timothy C. Wentworth acquired 10,000 shares of the stock in a transaction dated Friday, January 5th. The shares were acquired at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the transaction, the chief executive officer now owns 585,122 shares in the company, valued at approximately $14,171,654.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Timothy C. Wentworth acquired 10,000 shares of the stock in a transaction dated Friday, January 5th. The shares were acquired at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the transaction, the chief executive officer now owns 585,122 shares in the company, valued at approximately $14,171,654.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Valerie B. Jarrett purchased 4,456 shares of the stock in a transaction on Monday, January 29th. The stock was bought at an average price of $22.44 per share, for a total transaction of $99,992.64. Following the completion of the transaction, the director now directly owns 4,456 shares of the company’s stock, valued at $99,992.64. The disclosure for this purchase can be found here. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of Walgreens Boots Alliance

Large investors have recently made changes to their positions in the business. Vontobel Holding Ltd. lifted its stake in Walgreens Boots Alliance by 104.6% in the first quarter. Vontobel Holding Ltd. now owns 36,922 shares of the pharmacy operator’s stock valued at $1,752,000 after buying an additional 18,879 shares during the period. Moors & Cabot Inc. lifted its stake in Walgreens Boots Alliance by 31.1% in the first quarter. Moors & Cabot Inc. now owns 20,791 shares of the pharmacy operator’s stock valued at $931,000 after buying an additional 4,931 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Walgreens Boots Alliance by 27.9% in the first quarter. Sequoia Financial Advisors LLC now owns 7,569 shares of the pharmacy operator’s stock worth $339,000 after acquiring an additional 1,651 shares in the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of Walgreens Boots Alliance by 0.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 63,483 shares of the pharmacy operator’s stock worth $2,842,000 after acquiring an additional 310 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Walgreens Boots Alliance by 14.2% in the first quarter. Baird Financial Group Inc. now owns 467,533 shares of the pharmacy operator’s stock worth $20,932,000 after acquiring an additional 58,184 shares in the last quarter. Institutional investors own 58.59% of the company’s stock.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, 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 engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.