Walgreens Boots Alliance (NASDAQ:WBA) Price Target Lowered to $7.50 at Bank of America

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

Several other analysts have also weighed in on the company. TD Cowen reduced their price objective on Walgreens Boots Alliance from $35.00 to $22.00 and set a buy rating on the stock in a research note on Monday, July 1st. Morgan Stanley reduced their price target on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating on the stock in a research note on Friday, June 28th. Truist Financial lowered their price objective on shares of Walgreens Boots Alliance from $20.00 to $13.00 and set a hold rating for the company in a research report on Friday, June 28th. Barclays cut their target price on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an underweight rating on the stock in a research report on Tuesday, July 23rd. Finally, Evercore ISI decreased their target price on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating on the stock in a research note 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Walgreens Boots Alliance currently has a consensus rating of Hold and a consensus target price of $15.19.

Walgreens Boots Alliance Trading Down 3.6 %

Shares of Walgreens Boots Alliance stock opened at $8.65 on Wednesday. The firm’s 50-day moving average price is $10.89 and its two-hundred day moving average price is $15.78. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of -1.28, a PEG ratio of 0.65 and a beta of 0.70. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. Walgreens Boots Alliance has a 12-month low of $8.62 and a 12-month high of $27.05.

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

Walgreens Boots Alliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be given a $0.25 dividend. 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 11.56%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is currently -14.84%.

Hedge Funds Weigh In On Walgreens Boots Alliance

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Walgreens Boots Alliance in the 2nd quarter worth about $34,000. Cetera Investment Advisers lifted its stake in Walgreens Boots Alliance by 4.4% in the second quarter. Cetera Investment Advisers now owns 364,734 shares of the pharmacy operator’s stock valued at $4,411,000 after buying an additional 15,270 shares during the period. William B. Walkup & Associates Inc. bought a new position in shares of Walgreens Boots Alliance during the 2nd quarter worth approximately $821,000. Sunbelt Securities Inc. grew its position in shares of Walgreens Boots Alliance by 46.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 76,228 shares of the pharmacy operator’s stock worth $922,000 after buying an additional 24,062 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Walgreens Boots Alliance by 31.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 132,456 shares of the pharmacy operator’s stock valued at $1,602,000 after acquiring an additional 31,772 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

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.