Walgreens Boots Alliance Inc (WBA) Position Cut by Front Barnett Associates LLC

Front Barnett Associates LLC cut its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,863 shares of the pharmacy operator’s stock after selling 1,455 shares during the period. Walgreens Boots Alliance accounts for 1.6% of Front Barnett Associates LLC’s portfolio, making the stock its 23rd largest position. Front Barnett Associates LLC’s holdings in Walgreens Boots Alliance were worth $10,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sompo Japan Nipponkoa Asset Management CO. LTD. grew its position in shares of Walgreens Boots Alliance by 12.2% during the third quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 107,790 shares of the pharmacy operator’s stock worth $7,858,000 after acquiring an additional 11,740 shares during the last quarter. Cadence Bank NA grew its position in shares of Walgreens Boots Alliance by 5.3% during the third quarter. Cadence Bank NA now owns 31,589 shares of the pharmacy operator’s stock worth $2,303,000 after acquiring an additional 1,579 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Walgreens Boots Alliance by 54.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 328,178 shares of the pharmacy operator’s stock worth $23,839,000 after acquiring an additional 115,452 shares during the last quarter. Summit Asset Management LLC grew its position in shares of Walgreens Boots Alliance by 9.0% during the third quarter. Summit Asset Management LLC now owns 8,976 shares of the pharmacy operator’s stock worth $654,000 after acquiring an additional 741 shares during the last quarter. Finally, Meyer Handelman Co. grew its position in shares of Walgreens Boots Alliance by 17.9% during the third quarter. Meyer Handelman Co. now owns 124,300 shares of the pharmacy operator’s stock worth $9,061,000 after acquiring an additional 18,850 shares during the last quarter. 64.57% of the stock is currently owned by hedge funds and other institutional investors.

In other Walgreens Boots Alliance news, SVP Kimberly R. Scardino sold 11,970 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $79.79, for a total value of $955,086.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathleen Wilson-Thompson sold 52,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $78.77, for a total transaction of $4,096,040.00. Following the completion of the sale, the executive vice president now directly owns 81,076 shares of the company’s stock, valued at $6,386,356.52. The disclosure for this sale can be found here. Insiders sold a total of 66,706 shares of company stock valued at $5,268,584 over the last three months. 14.80% of the stock is owned by corporate insiders.

Shares of WBA opened at $82.39 on Friday. The stock has a market capitalization of $76.50 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.82 and a quick ratio of 0.38. Walgreens Boots Alliance Inc has a 52-week low of $59.07 and a 52-week high of $83.00.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Thursday, October 11th. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.03. The firm had revenue of $33.44 billion during the quarter, compared to analyst estimates of $33.64 billion. Walgreens Boots Alliance had a net margin of 3.82% and a return on equity of 21.75%. Equities research analysts expect that Walgreens Boots Alliance Inc will post 6.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 12th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, November 8th. Walgreens Boots Alliance’s payout ratio is 29.24%.

Several research firms have recently commented on WBA. Pivotal Research upped their price target on shares of Walgreens Boots Alliance from $60.00 to $72.00 and gave the stock a “hold” rating in a research report on Monday, October 15th. Zacks Investment Research upgraded shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Saturday, October 13th. Barclays upped their price target on shares of Walgreens Boots Alliance from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Robert W. Baird upped their price target on shares of Walgreens Boots Alliance from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 12th. Finally, Citigroup upped their price target on shares of Walgreens Boots Alliance from $69.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Walgreens Boots Alliance presently has an average rating of “Hold” and an average price target of $78.22.

ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/11/10/walgreens-boots-alliance-inc-wba-position-cut-by-front-barnett-associates-llc.html.

Walgreens Boots Alliance Company Profile

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.

Recommended Story: How Do I Invest in Dividend Stocks

Want to see what other hedge funds are holding WBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walgreens Boots Alliance Inc (NASDAQ:WBA).

Institutional Ownership by Quarter for Walgreens Boots Alliance (NASDAQ:WBA)

Receive News & Ratings for Walgreens Boots Alliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walgreens Boots Alliance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply