Walgreens Boots Alliance (WBA) Given a $90.00 Price Target by Loop Capital Analysts
Walgreens Boots Alliance (NASDAQ:WBA) has been given a $90.00 target price by Loop Capital in a report issued on Wednesday, January 3rd. The firm presently has a “buy” rating on the pharmacy operator’s stock. Loop Capital’s price target would indicate a potential upside of 12.12% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the company. Morgan Stanley downgraded Walgreens Boots Alliance from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $95.00 to $85.00 in a research report on Friday, October 6th. BidaskClub raised Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research report on Friday, November 10th. Zacks Investment Research raised Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Wednesday, December 27th. Vetr raised Walgreens Boots Alliance from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 12th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $80.00 target price (down previously from $90.00) on shares of Walgreens Boots Alliance in a research report on Thursday, October 19th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $86.00.
Walgreens Boots Alliance (NASDAQ:WBA) traded up $1.12 during mid-day trading on Wednesday, reaching $80.27. The company’s stock had a trading volume of 6,248,648 shares, compared to its average volume of 5,560,000. Walgreens Boots Alliance has a 1 year low of $63.82 and a 1 year high of $88.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.96. The stock has a market capitalization of $79,520.00, a P/E ratio of 22.17, a PEG ratio of 1.34 and a beta of 1.22.
Walgreens Boots Alliance declared that its board has approved a stock buyback program on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the pharmacy operator to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically 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 the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $67.37, for a total transaction of $184,324.32. Following the sale, the director now owns 16,415 shares in the company, valued at $1,105,878.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stefano Pessina acquired 98,858 shares of the business’s stock in a transaction on Monday, January 15th. The shares were purchased at an average price of $76.07 per share, for a total transaction of $7,520,128.06. The disclosure for this purchase can be found here. Insiders own 14.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Bank of Australia raised its stake in Walgreens Boots Alliance by 139.5% during the second quarter. Commonwealth Bank of Australia now owns 46,167 shares of the pharmacy operator’s stock valued at $3,614,000 after buying an additional 26,893 shares in the last quarter. Andra AP fonden raised its stake in Walgreens Boots Alliance by 6.9% during the third quarter. Andra AP fonden now owns 62,300 shares of the pharmacy operator’s stock valued at $4,811,000 after buying an additional 4,000 shares in the last quarter. IBM Retirement Fund raised its stake in Walgreens Boots Alliance by 88.1% during the second quarter. IBM Retirement Fund now owns 22,903 shares of the pharmacy operator’s stock valued at $2,004,000 after buying an additional 10,729 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Walgreens Boots Alliance by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,019,739 shares of the pharmacy operator’s stock valued at $236,476,000 after buying an additional 154,995 shares in the last quarter. Finally, Birinyi Associates Inc. raised its stake in Walgreens Boots Alliance by 9.0% during the second quarter. Birinyi Associates Inc. now owns 9,100 shares of the pharmacy operator’s stock valued at $713,000 after buying an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 61.17% of the company’s stock.
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Walgreens Boots Alliance Company Profile
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).
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