Panagora Asset Management Inc. Sells 40,867 Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Panagora Asset Management Inc. trimmed its position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 51.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,875 shares of the pharmacy operator’s stock after selling 40,867 shares during the quarter. Panagora Asset Management Inc.’s holdings in Walgreens Boots Alliance were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Walgreens Boots Alliance by 5.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 497,633 shares of the pharmacy operator’s stock valued at $6,019,000 after purchasing an additional 26,926 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in Walgreens Boots Alliance by 8.2% in the 2nd quarter. Ameritas Advisory Services LLC now owns 62,291 shares of the pharmacy operator’s stock valued at $753,000 after buying an additional 4,734 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Walgreens Boots Alliance by 12.7% in the 2nd quarter. Arkadios Wealth Advisors now owns 35,763 shares of the pharmacy operator’s stock valued at $433,000 after buying an additional 4,039 shares during the period. HB Wealth Management LLC raised its position in shares of Walgreens Boots Alliance by 68.0% during the second quarter. HB Wealth Management LLC now owns 19,892 shares of the pharmacy operator’s stock worth $241,000 after acquiring an additional 8,048 shares during the last quarter. Finally, Skylands Capital LLC lifted its stake in shares of Walgreens Boots Alliance by 223.0% during the second quarter. Skylands Capital LLC now owns 124,350 shares of the pharmacy operator’s stock valued at $1,505,000 after acquiring an additional 85,850 shares during the period. Institutional investors and hedge funds own 58.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on WBA shares. Barclays dropped their price objective 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. Morgan Stanley dropped 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, June 28th. Royal Bank of Canada reduced their price objective on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Bank of America reiterated an “underperform” rating and set a $11.00 target price (down previously from $22.00) on shares of Walgreens Boots Alliance in a research report on Friday, June 28th. Finally, Truist Financial cut their price target on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.46.

Walgreens Boots Alliance Trading Down 3.0 %

NASDAQ:WBA opened at $8.97 on Wednesday. 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 business’s 50-day simple moving average is $11.03 and its 200-day simple moving average is $15.83. Walgreens Boots Alliance, Inc. has a fifty-two week low of $8.90 and a fifty-two week high of $27.05. The stock has a market capitalization of $7.74 billion, a PE ratio of -1.33, a price-to-earnings-growth ratio of 0.65 and a beta of 0.70.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The company had revenue of $36.40 billion during the quarter, compared to the consensus estimate of $35.94 billion. During the same period in the previous year, the firm posted $1.00 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Walgreens Boots Alliance, Inc. will post 2.87 earnings per share for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 11.15%. The ex-dividend date is Wednesday, August 21st. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently -14.84%.

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.