Walgreens Boots Alliance (NASDAQ:WBA) Sets New 12-Month Low After Earnings Miss

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $11.93 and last traded at $11.94, with a volume of 16202467 shares trading hands. The stock had previously closed at $15.66.

The pharmacy operator reported $0.63 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.04). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company had revenue of $36.40 billion during the quarter, compared to analyst estimates of $35.94 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.

Walgreens Boots Alliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were issued a $0.25 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.00 annualized dividend and a dividend yield of 8.27%. Walgreens Boots Alliance’s dividend payout ratio is presently -14.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America reaffirmed an “underperform” rating and issued a $11.00 target price (down from $22.00) on shares of Walgreens Boots Alliance in a research report on Friday. Morgan Stanley cut their price target on Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday. Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. SVB Leerink dropped their price target on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Walgreens Boots Alliance from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Walgreens Boots Alliance has an average rating of “Hold” and a consensus price target of $20.64.

Insider Buying and Selling at Walgreens Boots Alliance

In other Walgreens Boots Alliance news, Director Inderpal S. Bhandari bought 3,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was acquired at an average cost of $18.05 per share, with a total value of $54,150.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $54,150. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Manmohan Mahajan bought 6,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $19.38 per share, for a total transaction of $116,280.00. Following the completion of the transaction, the chief financial officer now owns 166,969 shares of the company’s stock, valued at approximately $3,235,859.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Inderpal S. Bhandari bought 3,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was bought at an average cost of $18.05 per share, with a total value of $54,150.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $54,150. The disclosure for this purchase can be found here. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Walgreens Boots Alliance

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Walgreens Boots Alliance by 14.5% in the third quarter. Vanguard Group Inc. now owns 86,675,198 shares of the pharmacy operator’s stock valued at $1,927,656,000 after purchasing an additional 10,962,030 shares during the last quarter. Capital World Investors increased its holdings in Walgreens Boots Alliance by 57.5% during the 1st quarter. Capital World Investors now owns 29,061,021 shares of the pharmacy operator’s stock valued at $630,334,000 after acquiring an additional 10,612,373 shares in the last quarter. Morgan Stanley raised its position in Walgreens Boots Alliance by 15.8% during the third quarter. Morgan Stanley now owns 12,584,371 shares of the pharmacy operator’s stock worth $279,876,000 after acquiring an additional 1,720,228 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Walgreens Boots Alliance by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,519,845 shares of the pharmacy operator’s stock valued at $170,233,000 after purchasing an additional 613,847 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Walgreens Boots Alliance by 12.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,077,336 shares of the pharmacy operator’s stock valued at $80,349,000 after purchasing an additional 339,143 shares during the last quarter. 58.59% of the stock is owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.32. The firm’s 50-day moving average price is $16.49 and its 200 day moving average price is $20.19.

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.