Walgreens Boots Alliance Inc (NASDAQ:WBA) Position Decreased by State of Michigan Retirement System

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State of Michigan Retirement System reduced its holdings in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 74.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,167 shares of the pharmacy operator’s stock after selling 562,194 shares during the quarter. State of Michigan Retirement System’s holdings in Walgreens Boots Alliance were worth $7,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WBA. Aristotle Capital Management LLC boosted its position in shares of Walgreens Boots Alliance by 53.2% in the 1st quarter. Aristotle Capital Management LLC now owns 7,289,353 shares of the pharmacy operator’s stock valued at $333,488,000 after purchasing an additional 2,529,868 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Walgreens Boots Alliance by 105.4% in the first quarter. APG Asset Management N.V. now owns 4,695,281 shares of the pharmacy operator’s stock worth $264,568,000 after buying an additional 2,409,392 shares during the period. JPMorgan Chase & Co. increased its position in shares of Walgreens Boots Alliance by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 9,039,778 shares of the pharmacy operator’s stock worth $413,569,000 after acquiring an additional 1,350,716 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Walgreens Boots Alliance by 57.4% during the first quarter. Nuveen Asset Management LLC now owns 3,291,920 shares of the pharmacy operator’s stock valued at $150,606,000 after acquiring an additional 1,200,358 shares during the period. Finally, Cullen Capital Management LLC lifted its position in shares of Walgreens Boots Alliance by 144.2% in the 1st quarter. Cullen Capital Management LLC now owns 1,836,954 shares of the pharmacy operator’s stock valued at $84,041,000 after acquiring an additional 1,084,869 shares in the last quarter. Institutional investors and hedge funds own 57.12% of the company’s stock.

Several brokerages have issued reports on WBA. Credit Suisse Group initiated coverage on shares of Walgreens Boots Alliance in a research note on Friday, July 10th. They set a “hold” rating and a $45.00 target price on the stock. Barclays reduced their price objective on Walgreens Boots Alliance from $50.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. UBS Group raised Walgreens Boots Alliance from a “sell” rating to a “neutral” rating and lowered their target price for the company from $49.00 to $44.00 in a research note on Monday, April 6th. Zacks Investment Research downgraded Walgreens Boots Alliance from a “hold” rating to a “strong sell” rating and set a $42.00 target price on the stock. in a report on Friday, July 17th. Finally, Mizuho decreased their price target on shares of Walgreens Boots Alliance from $48.00 to $43.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $46.00.

Walgreens Boots Alliance stock opened at $40.71 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.33 and a debt-to-equity ratio of 0.57. Walgreens Boots Alliance Inc has a 1-year low of $36.65 and a 1-year high of $64.50. The firm’s fifty day simple moving average is $41.39 and its 200-day simple moving average is $45.26. The company has a market capitalization of $35.28 billion, a P/E ratio of 49.65, a P/E/G ratio of 1.74 and a beta of 0.55.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Thursday, July 9th. The pharmacy operator reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.27). The company had revenue of $34.63 billion for the quarter, compared to the consensus estimate of $34.32 billion. Walgreens Boots Alliance had a net margin of 0.55% and a return on equity of 19.43%. Walgreens Boots Alliance’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $1.47 earnings per share. On average, equities research analysts predict that Walgreens Boots Alliance Inc will post 4.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.4675 per share. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, August 18th. This represents a $1.87 dividend on an annualized basis and a yield of 4.59%. Walgreens Boots Alliance’s payout ratio is currently 30.55%.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

Read More: Calculating net profit and net profit margin ratio

Institutional Ownership by Quarter for Walgreens Boots Alliance (NASDAQ:WBA)

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