Bank of America Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $7.50

Walgreens Boots Alliance (NASDAQ:WBA) had its price target decreased by Bank of America from $11.00 to $7.50 in a report published on Wednesday, Benzinga reports. Bank of America currently has an underperform rating on the pharmacy operator’s stock.

Other research analysts have also issued reports about the stock. Morgan Stanley dropped their price target on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating on the stock in a research note on Friday, June 28th. Truist Financial dropped their price target on shares of 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. Barclays decreased their price objective on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an underweight rating on the stock in a report on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Walgreens Boots Alliance from $20.00 to $15.00 and set an overweight rating on the stock in a report on Friday, August 30th. Finally, TD Cowen decreased their price objective on shares of Walgreens Boots Alliance from $35.00 to $22.00 and set a buy rating on the stock in a report on Monday, July 1st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Walgreens Boots Alliance presently has an average rating of Hold and an average price target of $15.19.

Walgreens Boots Alliance Price Performance

Walgreens Boots Alliance stock opened at $8.77 on Wednesday. The stock has a market cap of $7.57 billion, a P/E ratio of -1.30, a price-to-earnings-growth ratio of 0.89 and a beta of 0.70. The company has a fifty day simple moving average of $10.75 and a 200-day simple moving average of $15.63. Walgreens Boots Alliance has a 12-month low of $8.46 and a 12-month high of $27.05. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). The business had revenue of $36.40 billion during the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Equities analysts expect that Walgreens Boots Alliance will post 2.87 EPS for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.40%. The ex-dividend date is Wednesday, August 21st. Walgreens Boots Alliance’s dividend payout ratio is presently -14.84%.

Hedge Funds Weigh In On Walgreens Boots Alliance

Several institutional investors and hedge funds have recently bought and sold shares of WBA. Atlas Brown Inc. increased its position in shares of Walgreens Boots Alliance by 1.8% in the first quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock worth $685,000 after acquiring an additional 550 shares in the last quarter. Westpac Banking Corp boosted its stake in Walgreens Boots Alliance by 10.1% during the 4th quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock valued at $159,000 after acquiring an additional 560 shares during the last quarter. Shilanski & Associates Inc. boosted its stake in Walgreens Boots Alliance by 5.3% during the 1st quarter. Shilanski & Associates Inc. now owns 11,821 shares of the pharmacy operator’s stock valued at $256,000 after acquiring an additional 591 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in Walgreens Boots Alliance by 1.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 32,085 shares of the pharmacy operator’s stock valued at $696,000 after acquiring an additional 597 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in Walgreens Boots Alliance by 9.9% during the 4th quarter. NBC Securities Inc. now owns 6,757 shares of the pharmacy operator’s stock valued at $176,000 after acquiring an additional 611 shares during the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

About Walgreens Boots Alliance

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.