Walgreens Boots Alliance (WBA) Given a $90.00 Price Target at Loop Capital

Loop Capital set a $90.00 price objective on Walgreens Boots Alliance (NASDAQ:WBA) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the pharmacy operator’s stock.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $94.00 price objective on shares of Walgreens Boots Alliance in a research report on Sunday, September 10th. Jefferies Group reaffirmed a buy rating and set a $95.00 price objective on shares of Walgreens Boots Alliance in a research report on Thursday, September 7th. Mizuho set a $94.00 price objective on shares of Walgreens Boots Alliance and gave the stock a buy rating in a research report on Tuesday, October 24th. Royal Bank of Canada reaffirmed a buy rating and set a $88.00 price objective on shares of Walgreens Boots Alliance in a research report on Wednesday, October 25th. Finally, Citigroup decreased their price objective on shares of Walgreens Boots Alliance from $95.00 to $81.00 and set a buy rating for the company in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $86.60.

Walgreens Boots Alliance (NASDAQ WBA) traded down $3.91 during trading on Wednesday, hitting $71.60. 12,460,000 shares of the stock traded hands, compared to its average volume of 6,190,000. The stock has a market cap of $70,910.00, a PE ratio of 18.94, a P/E/G ratio of 1.34 and a beta of 1.22. Walgreens Boots Alliance has a 1-year low of $63.82 and a 1-year high of $88.00. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 0.45.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, January 4th. The pharmacy operator reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.04. The business had revenue of $30.74 billion during the quarter, compared to analysts’ expectations of $30.39 billion. Walgreens Boots Alliance had a net margin of 3.45% and a return on equity of 18.36%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. sell-side analysts expect that Walgreens Boots Alliance will post 5.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Monday, November 13th were paid a $0.40 dividend. The ex-dividend date was Friday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. Walgreens Boots Alliance’s dividend payout ratio is presently 42.33%.

Walgreens Boots Alliance declared that its board has approved a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of Walgreens Boots Alliance stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $67.37, for a total value of $184,324.32. Following the transaction, the director now directly owns 16,415 shares in the company, valued at $1,105,878.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Anthony Lederer acquired 20,000 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was acquired at an average price of $67.00 per share, for a total transaction of $1,340,000.00. Following the completion of the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $3,350,000. The disclosure for this purchase can be found here. Insiders own 14.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Hudock Capital Group LLC increased its stake in shares of Walgreens Boots Alliance by 0.5% during the second quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock worth $102,000 after acquiring an additional 6 shares during the period. Westside Investment Management Inc. increased its stake in shares of Walgreens Boots Alliance by 10.4% during the second quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock worth $102,000 after acquiring an additional 125 shares during the period. Zions Bancorporation increased its stake in shares of Walgreens Boots Alliance by 983.3% during the third quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 1,239 shares during the period. IHT Wealth Management LLC increased its stake in shares of Walgreens Boots Alliance by 46.3% during the second quarter. IHT Wealth Management LLC now owns 6,946 shares of the pharmacy operator’s stock worth $135,000 after acquiring an additional 2,199 shares during the period. Finally, Bristlecone Advisors LLC acquired a new position in shares of Walgreens Boots Alliance during the third quarter worth about $135,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

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About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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