Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $16.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective trimmed by TD Cowen from $22.00 to $16.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the pharmacy operator’s stock.

Other equities analysts have also issued research reports about the company. Truist Financial dropped their price objective on Walgreens Boots Alliance from $20.00 to $13.00 and set a hold rating for the company in a research note on Friday, June 28th. Barclays dropped their target price on Walgreens Boots Alliance from $11.00 to $7.00 and set an underweight rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Walgreens Boots Alliance from $20.00 to $15.00 and set an overweight rating on the stock in a research report on Friday, August 30th. Bank of America cut their price target on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an underperform rating on the stock in a report on Wednesday, September 4th. Finally, Royal Bank of Canada reduced their price objective on Walgreens Boots Alliance from $22.00 to $13.00 and set a sector perform rating on the stock in a report on Tuesday, July 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $14.73.

Walgreens Boots Alliance Stock Up 4.2 %

Shares of NASDAQ WBA opened at $9.21 on Thursday. The stock has a market capitalization of $7.95 billion, a P/E ratio of -1.37, a PEG ratio of 0.98 and a beta of 0.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.31. Walgreens Boots Alliance has a one year low of $8.46 and a one year high of $27.05. The firm’s 50 day simple moving average is $10.51 and its two-hundred day simple moving average is $15.10.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The firm had revenue of $36.40 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $1.00 EPS. As a group, analysts expect that Walgreens Boots Alliance will post 2.87 EPS for the current fiscal year.

Walgreens Boots Alliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.86%. The ex-dividend date was Wednesday, August 21st. Walgreens Boots Alliance’s dividend payout ratio is presently -14.84%.

Hedge Funds Weigh In On Walgreens Boots Alliance

A number of hedge funds have recently made changes to their positions in WBA. Quadrant Capital Group LLC raised its holdings in shares of Walgreens Boots Alliance by 33.8% during the 4th quarter. Quadrant Capital Group LLC now owns 7,494 shares of the pharmacy operator’s stock valued at $196,000 after buying an additional 1,893 shares during the period. Syon Capital LLC acquired a new stake in Walgreens Boots Alliance in the fourth quarter valued at $333,000. EP Wealth Advisors LLC bought a new position in shares of Walgreens Boots Alliance during the fourth quarter worth about $297,000. Corient Private Wealth LLC increased its holdings in shares of Walgreens Boots Alliance by 38.9% in the 4th quarter. Corient Private Wealth LLC now owns 280,545 shares of the pharmacy operator’s stock valued at $7,325,000 after acquiring an additional 78,523 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its stake in Walgreens Boots Alliance by 29.5% during the fourth quarter. Applied Finance Capital Management LLC now owns 708,552 shares of the pharmacy operator’s stock valued at $18,500,000 after purchasing an additional 161,262 shares during the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

About Walgreens Boots Alliance

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.