Walgreens Boots Alliance (NASDAQ:WBA) Price Target Lowered to $22.00 at TD Cowen

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective lowered by TD Cowen from $35.00 to $22.00 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the pharmacy operator’s stock.

A number of other brokerages have also recently commented on WBA. Morgan Stanley cut their price target 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. Raymond James reissued a market perform rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. Barclays dropped their price objective on shares of Walgreens Boots Alliance from $21.00 to $19.00 and set an underweight rating on the stock in a research report on Monday, June 24th. UBS Group dropped their price objective on shares of Walgreens Boots Alliance from $22.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a hold rating on the stock in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Walgreens Boots Alliance currently has a consensus rating of Hold and an average price target of $19.00.

Walgreens Boots Alliance Stock Performance

Shares of WBA stock opened at $11.58 on Monday. The stock has a market cap of $10.00 billion, a P/E ratio of -1.72, a P/E/G ratio of 0.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.31. The company has a fifty day moving average price of $16.49 and a two-hundred day moving average price of $20.14. Walgreens Boots Alliance has a one year low of $11.48 and a one year high of $31.32.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly 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 firm had revenue of $36.40 billion during the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. As a group, equities analysts predict that Walgreens Boots Alliance will post 2.94 EPS for the current year.

Walgreens Boots Alliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.25 per share. The ex-dividend date was Monday, May 20th. This represents a $1.00 dividend on an annualized basis and a yield of 8.64%. Walgreens Boots Alliance’s payout ratio is -14.84%.

Insiders Place Their Bets

In other news, Director Inderpal S. Bhandari acquired 3,000 shares of Walgreens Boots Alliance stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $54,150. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

Hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in 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 worth $196,000 after buying an additional 1,893 shares during the period. Syon Capital LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth approximately $333,000. New York Life Investment Management LLC boosted its position in Walgreens Boots Alliance by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 115,196 shares of the pharmacy operator’s stock worth $3,008,000 after buying an additional 690 shares during the period. EP Wealth Advisors LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth approximately $297,000. Finally, Corient Private Wealth LLC boosted its position in Walgreens Boots Alliance by 38.9% during the 4th quarter. Corient Private Wealth LLC now owns 280,545 shares of the pharmacy operator’s stock worth $7,325,000 after buying an additional 78,523 shares during the period. 58.59% of the stock is currently owned by institutional investors and hedge funds.

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.