Walgreens Boots Alliance (NASDAQ:WBA) Trading Down 3.3% (2024)

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Get Free Report) were down 3.3% during trading on Friday . The company traded as low as $11.42 and last traded at $11.42. Approximately 3,310,681 shares traded hands during trading, a decline of 79% from the average daily volume of 15,650,826 shares. The stock had previously closed at $11.81.

Analysts Set New Price Targets

A number of analysts have commented on WBA shares. Morgan Stanley reduced their price objective on shares of 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. Bank of America reaffirmed an "underperform" rating and set a $11.00 price objective (down from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday, June 28th. UBS Group reduced their price target on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price target 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. Finally, Barclays reduced their price target on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an "underweight" rating for the company in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $16.86.

Check Out Our Latest Research Report on Walgreens Boots Alliance

Walgreens Boots Alliance Stock Performance

The stock has a market cap of $9.91 billion, a P/E ratio of -1.70, a price-to-earnings-growth ratio of 0.83 and a beta of 0.72. The firm's 50-day moving average is $13.46 and its two-hundred day moving average is $17.79. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last issued its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). The business had revenue of $36.40 billion for the quarter, compared to the consensus estimate of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. Walgreens Boots Alliance's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. As a group, research analysts expect that Walgreens Boots Alliance, Inc. will post 2.87 EPS for the current year.

Walgreens Boots Alliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.00 annualized dividend and a yield of 8.71%. Walgreens Boots Alliance's dividend payout ratio (DPR) is presently -14.84%.

Hedge Funds Weigh In On Walgreens Boots Alliance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors grew its stake in shares of Walgreens Boots Alliance by 57.5% in the first quarter. Capital World Investors now owns 29,061,021 shares of the pharmacy operator's stock worth $630,334,000 after acquiring an additional 10,612,373 shares during the last quarter. Norges Bank acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter worth $29,816,000. International Assets Investment Management LLC grew its stake in shares of Walgreens Boots Alliance by 1,985.1% in the fourth quarter. International Assets Investment Management LLC now owns 889,546 shares of the pharmacy operator's stock worth $23,226,000 after acquiring an additional 846,884 shares during the last quarter. Swedbank AB acquired a new stake in shares of Walgreens Boots Alliance in the first quarter worth $16,365,000. Finally, Minneapolis Portfolio Management Group LLC acquired a new stake in shares of Walgreens Boots Alliance in the first quarter worth $13,710,000. Institutional investors and hedge funds own 58.59% of the company's stock.

Walgreens Boots Alliance Company Profile

(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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