Walgreens Boots Alliance (WBA) Given a $73.00 Price Target at Pivotal Research
Pivotal Research set a $73.00 price objective on Walgreens Boots Alliance (NASDAQ:WBA) in a research report report published on Friday morning. The firm currently has a hold rating on the pharmacy operator’s stock.
A number of other research analysts also recently commented on the stock. Needham & Company LLC reaffirmed a buy rating and set a $94.00 price objective on shares of Walgreens Boots Alliance in a research report on Sunday, September 10th. Jefferies Group reaffirmed a buy rating and set a $95.00 price objective on shares of Walgreens Boots Alliance in a research report on Thursday, September 7th. Mizuho set a $94.00 price objective on shares of Walgreens Boots Alliance and gave the company a buy rating in a research report on Tuesday, October 24th. Royal Bank of Canada reiterated a buy rating and issued a $88.00 target price on shares of Walgreens Boots Alliance in a research note on Wednesday, October 25th. Finally, Loop Capital set a $90.00 target price on shares of Walgreens Boots Alliance and gave the company a buy rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $86.05.
Walgreens Boots Alliance (NASDAQ WBA) traded up $1.32 during midday trading on Friday, hitting $72.92. 9,005,764 shares of the company were exchanged, compared to its average volume of 5,376,115. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.59. Walgreens Boots Alliance has a twelve month low of $63.82 and a twelve month high of $88.00. The company has a market cap of $70,931.90, a P/E ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 1.22.
Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Thursday, January 4th. The pharmacy operator reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The business had revenue of $30.74 billion for the quarter, compared to the consensus estimate of $30.39 billion. Walgreens Boots Alliance had a net margin of 3.19% and a return on equity of 19.15%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. analysts forecast that Walgreens Boots Alliance will post 5.54 EPS for the current year.
Walgreens Boots Alliance announced that its board has authorized a stock buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the pharmacy operator to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Monday, November 13th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, November 10th. Walgreens Boots Alliance’s payout ratio is 44.20%.
In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total transaction of $184,324.32. Following the transaction, the director now directly owns 16,415 shares in the company, valued at approximately $1,105,878.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Anthony Lederer bought 20,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were acquired at an average price of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $3,350,000. The disclosure for this purchase can be found here. 14.80% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in WBA. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Walgreens Boots Alliance in the 1st quarter valued at approximately $2,491,000. Guardian Life Insurance Co. of America raised its position in shares of Walgreens Boots Alliance by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,301 shares of the pharmacy operator’s stock valued at $274,000 after acquiring an additional 22 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Walgreens Boots Alliance in the 1st quarter valued at approximately $1,744,000. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Walgreens Boots Alliance by 0.5% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 57,412 shares of the pharmacy operator’s stock valued at $4,768,000 after acquiring an additional 286 shares during the period. Finally, Investment Centers of America Inc. raised its position in shares of Walgreens Boots Alliance by 9.9% in the 1st quarter. Investment Centers of America Inc. now owns 13,286 shares of the pharmacy operator’s stock valued at $1,104,000 after acquiring an additional 1,198 shares during the period. Institutional investors and hedge funds own 61.18% 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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