Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $10.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target cut by Evercore ISI from $17.00 to $10.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an in-line rating on the pharmacy operator’s stock.

Several other research firms have also recently weighed in on WBA. TD Cowen cut their price objective on shares of Walgreens Boots Alliance from $37.00 to $35.00 and set a buy rating for the company in a research report on Wednesday, April 3rd. Truist Financial reissued a hold rating and issued a $25.00 price objective on shares of Walgreens Boots Alliance in a research note on Monday, April 1st. SVB Leerink cut their target price on Walgreens Boots Alliance from $23.00 to $22.00 and set a market perform rating for the company in a research note on Monday, March 18th. Raymond James reiterated a market perform rating on shares of Walgreens Boots Alliance in a research note on Tuesday, March 26th. Finally, Morgan Stanley dropped their price objective on Walgreens Boots Alliance from $16.00 to $13.00 and set an underweight rating for the company in a research report on Friday, May 31st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $19.00.

Walgreens Boots Alliance Price Performance

Shares of Walgreens Boots Alliance stock opened at $11.58 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of -1.72, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. Walgreens Boots Alliance has a twelve month low of $11.48 and a twelve month high of $31.32. The company has a 50-day simple moving average of $16.49 and a two-hundred day simple moving average of $20.14.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The business had revenue of $36.40 billion during the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Analysts forecast that Walgreens Boots Alliance will post 2.94 EPS for the current year.

Walgreens Boots Alliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.64%. The ex-dividend date of this dividend was Monday, May 20th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is currently -14.84%.

Insider Activity

In related news, Director Inderpal S. Bhandari bought 3,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $18.05 per share, with a total value of $54,150.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $54,150. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fulton Bank N.A. grew its stake in Walgreens Boots Alliance by 0.5% during the fourth quarter. Fulton Bank N.A. now owns 107,071 shares of the pharmacy operator’s stock worth $2,796,000 after purchasing an additional 523 shares during the period. Insight Folios Inc boosted its holdings in shares of Walgreens Boots Alliance by 5.8% during the 4th quarter. Insight Folios Inc now owns 9,640 shares of the pharmacy operator’s stock worth $252,000 after buying an additional 525 shares in the last quarter. Atlas Brown Inc. grew its position in shares of Walgreens Boots Alliance by 1.8% during the 1st quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock worth $685,000 after buying an additional 550 shares during the period. Pinnacle Financial Partners Inc increased its stake in shares of Walgreens Boots Alliance by 4.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 11,866 shares of the pharmacy operator’s stock valued at $310,000 after acquiring an additional 555 shares in the last quarter. Finally, Westpac Banking Corp lifted its position in shares of Walgreens Boots Alliance by 10.1% during the 4th quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock valued at $159,000 after acquiring an additional 560 shares during the period. Institutional investors and hedge funds own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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.