Walgreens Boots Alliance (NASDAQ:WBA) Shares Down 2.5% Following Analyst Downgrade (2024)

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Get Free Report) were down 2.5% during trading on Wednesday after UBS Group lowered their price target on the stock from $17.00 to $12.00. UBS Group currently has a neutral rating on the stock. Walgreens Boots Alliance traded as low as $11.26 and last traded at $11.28. Approximately 8,255,778 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 14,606,245 shares. The stock had previously closed at $11.57.

Several other brokerages also recently issued reports on WBA. Evercore ISI cut their price objective on Walgreens Boots Alliance from $17.00 to $10.00 and set an "in-line" rating for the company in a research report on Friday, June 28th. Bank of America restated 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. Deutsche Bank Aktiengesellschaft cut their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set a "hold" rating on the stock in a research note on Wednesday, April 3rd. 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. Finally, Barclays cut their price target on Walgreens Boots Alliance from $21.00 to $19.00 and set an "underweight" rating on the stock in a research note on Monday, June 24th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $17.71.

Get Our Latest Stock Analysis on WBA

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Insider Buying and Selling

In other news, Director Inderpal S. Bhandari acquired 3,000 shares of the firm's stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at $54,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WBA. Highlander Capital Management LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at approximately $26,000. Pineridge Advisors LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC lifted its position in shares of Walgreens Boots Alliance by 1,241.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator's stock valued at $28,000 after buying an additional 981 shares during the last quarter. Rocky Mountain Advisers LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at approximately $30,000. Finally, Quest Partners LLC acquired a new stake in shares of Walgreens Boots Alliance in the fourth quarter valued at approximately $30,000. 58.59% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Stock Performance

The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of -1.67, a PEG ratio of 0.82 and a beta of 0.72. The stock has a 50-day moving average price of $16.23 and a 200-day moving average price of $19.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.31.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last released its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). The firm had revenue of $36.40 billion for the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 earnings per share. As a group, analysts forecast that Walgreens Boots Alliance, Inc. will post 2.86 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, May 20th. This represents a $1.00 annualized dividend and a yield of 9.01%. Walgreens Boots Alliance's payout ratio is currently -14.84%.

About Walgreens Boots Alliance

(Get Free Report)

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.

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Walgreens Boots Alliance (NASDAQ:WBA)  Shares Down 2.5%  Following Analyst Downgrade (2024)

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