Walgreens Boots Alliance (WBA) Given New $80.00 Price Target at Barclays

Walgreens Boots Alliance (NASDAQ:WBA) had its target price boosted by equities research analysts at Barclays from $77.00 to $80.00 in a report released on Friday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the pharmacy operator’s stock. Barclays’ price objective indicates a potential upside of 8.84% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Walgreens Boots Alliance from a “c+” rating to a “b” rating in a research note on Wednesday, September 12th. Loop Capital increased their price objective on shares of Walgreens Boots Alliance to $80.00 and gave the company a “buy” rating in a research note on Friday, June 29th. Zacks Investment Research upgraded shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, June 19th. BidaskClub upgraded shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Finally, Pivotal Research dropped their price objective on shares of Walgreens Boots Alliance from $70.00 to $60.00 and set a “hold” rating for the company in a research note on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Walgreens Boots Alliance has a consensus rating of “Hold” and a consensus price target of $77.67.

Shares of WBA stock opened at $73.50 on Friday. Walgreens Boots Alliance has a 52-week low of $59.07 and a 52-week high of $80.68. The firm has a market capitalization of $72.35 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.04. The company has a quick ratio of 0.47, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings data on Thursday, October 11th. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Walgreens Boots Alliance had a net margin of 3.36% and a return on equity of 21.22%. The company had revenue of $33.44 billion during the quarter, compared to analysts’ expectations of $33.64 billion. As a group, equities research analysts forecast that Walgreens Boots Alliance will post 5.98 earnings per share for the current year.

In related news, COO Ornella Barra acquired 1,700,000 shares of the firm’s stock in a transaction on Monday, July 16th. The shares were purchased at an average price of $65.15 per share, with a total value of $110,755,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William C. Foote sold 2,736 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $65.99, for a total transaction of $180,548.64. Following the sale, the director now directly owns 10,943 shares in the company, valued at approximately $722,128.57. The disclosure for this sale can be found here. Company insiders own 14.80% of the company’s stock.

Large investors have recently modified their holdings of the business. Sei Investments Co. boosted its stake in shares of Walgreens Boots Alliance by 100.9% in the 2nd quarter. Sei Investments Co. now owns 349,451 shares of the pharmacy operator’s stock valued at $20,970,000 after purchasing an additional 175,551 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Walgreens Boots Alliance by 7.7% in the 2nd quarter. California Public Employees Retirement System now owns 2,303,917 shares of the pharmacy operator’s stock valued at $138,270,000 after purchasing an additional 165,048 shares during the last quarter. Bridgewater Associates LP boosted its stake in shares of Walgreens Boots Alliance by 109.1% in the 2nd quarter. Bridgewater Associates LP now owns 657,649 shares of the pharmacy operator’s stock valued at $39,469,000 after purchasing an additional 343,062 shares during the last quarter. Schaller Investment Group Inc. bought a new position in shares of Walgreens Boots Alliance in the 2nd quarter valued at about $9,152,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Walgreens Boots Alliance by 4.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,563,249 shares of the pharmacy operator’s stock valued at $213,849,000 after purchasing an additional 150,763 shares during the last quarter. 61.92% of the stock is currently owned by hedge funds and other institutional investors.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics.

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