Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $7.50

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective trimmed by Bank of America from $11.00 to $7.50 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an underperform rating on the pharmacy operator’s stock.

A number of other brokerages have also weighed in on WBA. UBS Group decreased their price objective on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a neutral rating for the company in a report on Wednesday, July 3rd. Truist Financial dropped their price objective on Walgreens Boots Alliance from $20.00 to $13.00 and set a hold rating on the stock in a research report on Friday, June 28th. Barclays decreased their target price on 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. JPMorgan Chase & Co. dropped their price target on shares of Walgreens Boots Alliance from $20.00 to $15.00 and set an overweight rating on the stock in a report on Friday, August 30th. Finally, Morgan Stanley decreased 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 report on Friday, June 28th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $15.19.

Walgreens Boots Alliance Stock Performance

Shares of WBA opened at $8.77 on Wednesday. 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 cap of $7.57 billion, a P/E ratio of -1.30, a P/E/G ratio of 0.89 and a beta of 0.70. The business’s 50 day moving average price is $10.75 and its 200-day moving average price is $15.59. Walgreens Boots Alliance has a 52 week low of $8.46 and a 52 week high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last released its 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). The company had revenue of $36.40 billion during the quarter, compared to analysts’ expectations of $35.94 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. Equities research analysts anticipate that Walgreens Boots Alliance will post 2.87 earnings per share for the current fiscal year.

Walgreens Boots Alliance Announces Dividend

The business also recently disclosed 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 of this dividend is Wednesday, August 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.40%. Walgreens Boots Alliance’s payout ratio is currently -14.84%.

Hedge Funds Weigh In On Walgreens Boots Alliance

Hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in Walgreens Boots Alliance during the second quarter valued at about $313,000. Strategic Investment Solutions Inc. IL purchased a new position in Walgreens Boots Alliance in the 2nd quarter worth approximately $34,000. Cetera Investment Advisers boosted its stake in Walgreens Boots Alliance by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 364,734 shares of the pharmacy operator’s stock worth $4,411,000 after purchasing an additional 15,270 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in Walgreens Boots Alliance during the 2nd quarter valued at approximately $821,000. Finally, Sunbelt Securities Inc. raised its position in shares of Walgreens Boots Alliance by 46.1% during the second quarter. Sunbelt Securities Inc. now owns 76,228 shares of the pharmacy operator’s stock valued at $922,000 after buying an additional 24,062 shares during the last quarter. 58.59% of the stock is currently owned by institutional investors.

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.