Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Get Free Report)'s stock price fell 2.1% during mid-day trading on Wednesday . The company traded as low as $9.14 and last traded at $9.25. 9,337,308 shares changed hands during trading, a decline of 40% from the average session volume of 15,634,341 shares. The stock had previously closed at $9.45.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Walgreens Boots Alliance from $30.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, July 1st. Morgan Stanley decreased their price target on Walgreens Boots Alliance from $13.00 to $9.00 and set an "underweight" rating for the company in a research note on Friday, June 28th. Evercore ISI lowered their target price on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an "in-line" rating for the company in a research note on Friday, June 28th. TD Cowen lowered their price objective on shares of Walgreens Boots Alliance from $35.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, July 1st. Finally, UBS Group lowered their price objective on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Walgreens Boots Alliance has an average rating of "Hold" and an average target price of $15.85.
Get Our Latest Stock Report on WBA
Walgreens Boots Alliance Price Performance
The stock has a market cap of $8.10 billion, a PE ratio of -1.39, a PEG ratio of 0.72 and a beta of 0.72. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $11.70 and a 200 day moving average price of $16.28.
Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last posted its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.05). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company had revenue of $36.40 billion during the quarter, compared to the consensus estimate of $35.94 billion. During the same period in the previous year, the business earned $1.00 earnings per share. Walgreens Boots Alliance's revenue was up 2.8% on a year-over-year basis. As a group, research analysts forecast that Walgreens Boots Alliance, Inc. will post 2.87 earnings per share for the current fiscal year.
Walgreens Boots Alliance Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.66%. Walgreens Boots Alliance's dividend payout ratio (DPR) is currently -14.84%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers grew its position in Walgreens Boots Alliance by 4.4% in the second quarter. Cetera Investment Advisers now owns 364,734 shares of the pharmacy operator's stock worth $4,411,000 after acquiring an additional 15,270 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new position in shares of Walgreens Boots Alliance in the 2nd quarter worth about $821,000. Sunbelt Securities Inc. increased its position in shares of Walgreens Boots Alliance by 46.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 76,228 shares of the pharmacy operator's stock valued at $922,000 after purchasing an additional 24,062 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Walgreens Boots Alliance by 31.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 132,456 shares of the pharmacy operator's stock valued at $1,602,000 after buying an additional 31,772 shares in the last quarter. Finally, Creative Planning boosted its stake in Walgreens Boots Alliance by 37.6% in the second quarter. Creative Planning now owns 381,301 shares of the pharmacy operator's stock worth $4,612,000 after buying an additional 104,235 shares in the last quarter. Hedge funds and other institutional investors own 58.59% of the company's stock.
About Walgreens Boots Alliance
(Get Free Report)
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.
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