TD Cowen Trims Walgreens Boots Alliance (NASDAQ:WBA) Target Price to $14.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target cut by TD Cowen from $16.00 to $14.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

A number of other brokerages have also recently issued reports on WBA. Royal Bank of Canada lowered their price objective on 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. Truist Financial lowered their price objective on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Monday, October 7th. Bank of America lowered their price objective on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley lowered their price objective on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Finally, Evercore ISI boosted their price objective on Walgreens Boots Alliance from $7.50 to $10.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Walgreens Boots Alliance has a consensus rating of “Hold” and an average target price of $12.88.

Walgreens Boots Alliance Price Performance

Shares of NASDAQ:WBA opened at $9.34 on Tuesday. The company’s 50-day moving average is $9.37 and its 200 day moving average is $12.91. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.37 and a current ratio of 0.68. The company has a market capitalization of $8.08 billion, a P/E ratio of -0.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.70. Walgreens Boots Alliance has a fifty-two week low of $8.22 and a fifty-two week high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $35.75 billion. Walgreens Boots Alliance had a negative net margin of 5.85% and a positive return on equity of 14.23%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. On average, equities research analysts forecast that Walgreens Boots Alliance will post 1.57 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, November 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.71%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is -9.99%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Semanteon Capital Management LP bought a new position in shares of Walgreens Boots Alliance in the third quarter worth approximately $278,000. Frank Rimerman Advisors LLC purchased a new stake in Walgreens Boots Alliance in the third quarter worth approximately $170,000. MCF Advisors LLC boosted its stake in Walgreens Boots Alliance by 117.2% in the third quarter. MCF Advisors LLC now owns 6,792 shares of the pharmacy operator’s stock worth $61,000 after buying an additional 3,665 shares in the last quarter. PFG Investments LLC boosted its stake in Walgreens Boots Alliance by 3.8% in the third quarter. PFG Investments LLC now owns 33,916 shares of the pharmacy operator’s stock worth $304,000 after buying an additional 1,245 shares in the last quarter. Finally, Forsta AP Fonden boosted its stake in Walgreens Boots Alliance by 83.4% in the third quarter. Forsta AP Fonden now owns 385,600 shares of the pharmacy operator’s stock worth $3,455,000 after buying an additional 175,400 shares in the last quarter. 58.59% of the stock is currently owned by institutional investors.

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.