State of Michigan Retirement System cut its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 74.9% in the second quarter, HoldingsChannel.com reports. The fund owned 188,167 shares of the pharmacy operator’s stock after selling 562,194 shares during the period. 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 large investors have also recently made changes to their positions in WBA. Perennial Advisors LLC bought a new position in Walgreens Boots Alliance during the first quarter worth about $36,000. Private Ocean LLC acquired a new stake in shares of Walgreens Boots Alliance during the first quarter worth $25,000. Balentine LLC bought a new stake in Walgreens Boots Alliance in the 1st quarter valued at $29,000. Pearl River Capital LLC acquired a new position in Walgreens Boots Alliance in the 1st quarter worth $35,000. Finally, Bray Capital Advisors acquired a new position in Walgreens Boots Alliance in the 1st quarter worth $37,000. Institutional investors and hedge funds own 57.12% of the company’s stock.
A number of brokerages have recently commented on WBA. Deutsche Bank cut their price target on Walgreens Boots Alliance from $43.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, July 10th. ValuEngine downgraded Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 27th. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Friday, May 15th. SunTrust Banks cut their price objective on shares of Walgreens Boots Alliance from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Finally, Citigroup decreased their target price on shares of Walgreens Boots Alliance from $48.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Four equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $46.00.
Shares of NASDAQ WBA opened at $40.71 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average price is $41.39 and its two-hundred day moving average price is $45.26. The company has a market cap of $35.28 billion, a PE ratio of 49.65, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55. Walgreens Boots Alliance Inc has a twelve month low of $36.65 and a twelve month high of $64.50.
Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, July 9th. The pharmacy operator reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.27). Walgreens Boots Alliance had a return on equity of 19.43% and a net margin of 0.55%. The business had revenue of $34.63 billion for the quarter, compared to the consensus estimate of $34.32 billion. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that Walgreens Boots Alliance Inc will post 4.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Wednesday, August 19th will be given a $0.4675 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Walgreens Boots Alliance’s previous quarterly dividend of $0.46. This represents a $1.87 annualized dividend and a dividend yield of 4.59%. Walgreens Boots Alliance’s dividend payout ratio is presently 30.55%.
About Walgreens Boots Alliance
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: Different Options Trading Strategies
Want to see what other hedge funds are holding WBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walgreens Boots Alliance Inc (NASDAQ:WBA).
Receive News & Ratings for Walgreens Boots Alliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walgreens Boots Alliance and related companies with MarketBeat.com's FREE daily email newsletter.