Insider Selling: Walgreen Company SVP Sells 81,015 Shares of Stock (WAG)
Walgreen Company (NYSE:WAG) SVP Mia M. Scholz sold 81,015 shares of Walgreen Company stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $61.93, for a total value of $5,017,258.95. Following the sale, the senior vice president now directly owns 45,612 shares in the company, valued at approximately $2,824,751. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Walgreen Company (NYSE:WAG) traded up 0.27% during mid-day trading on Tuesday, hitting $62.16. 12,394,153 shares of the company’s stock traded hands. Walgreen Company has a one year low of $46.75 and a one year high of $76.39. The stock has a 50-day moving average of $70.51 and a 200-day moving average of $68.06. The company has a market cap of $59.460 billion and a price-to-earnings ratio of 21.16. Walgreen Company also was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 21,387,669 shares, an increase of 15.8% from the July 15th total of 18,465,510 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 6,229,905 shares, the short-interest ratio is presently 3.4 days.
Walgreen Company (NYSE:WAG) last released its earnings data on Tuesday, June 24th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.94 by $0.03. The company had revenue of $19.40 billion for the quarter, compared to the consensus estimate of $19.33 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts predict that Walgreen Company will post $3.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Thursday, August 21st will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, August 19th. This is an increase from Walgreen Company’s previous quarterly dividend of $0.32.
A number of research firms have recently commented on WAG. Analysts at Deutsche Bank cut their price target on shares of Walgreen Company to $69.00 in a research note on Tuesday. Separately, analysts at BB&T Corp. cut their price target on shares of Walgreen Company from $80.00 to $65.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company reiterated a “market perform” rating on shares of Walgreen Company in a research note on Thursday, August 7th. They now have a $62.00 price target on the stock, down previously from $74.00. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $73.14.
Walgreen Co (NYSE:WAG), together with its subsidiaries, operates as a retail drugstore chain in the United States.
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