Walgreens Boots Alliance (NASDAQ:WBA) Given New $22.00 Price Target at TD Cowen

Walgreens Boots Alliance (NASDAQ:WBA) had its target price trimmed by TD Cowen from $35.00 to $22.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the pharmacy operator’s stock.

A number of other equities analysts have also recently issued reports on WBA. Evercore ISI dropped their target price on Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating for the company in a report on Friday, June 28th. Truist Financial dropped their target price on Walgreens Boots Alliance from $20.00 to $13.00 and set a hold rating for the company in a report on Friday, June 28th. UBS Group decreased their price target on Walgreens Boots Alliance from $22.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, June 24th. Raymond James restated a market perform rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. Finally, Barclays decreased their price target on Walgreens Boots Alliance from $21.00 to $19.00 and set an underweight rating on the stock in a research report on Monday, June 24th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Walgreens Boots Alliance currently has a consensus rating of Hold and an average target price of $17.71.

Walgreens Boots Alliance Trading Down 4.1 %

Shares of WBA opened at $11.10 on Monday. Walgreens Boots Alliance has a 1 year low of $11.10 and a 1 year high of $31.32. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $19.95. The stock has a market cap of $9.58 billion, a PE ratio of -1.65, a PEG ratio of 0.82 and a beta of 0.72.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company had revenue of $36.40 billion during the quarter, compared to analyst estimates of $35.94 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts predict that Walgreens Boots Alliance will post 2.86 EPS for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were given a $0.25 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.00 dividend on an annualized basis and a yield of 9.01%. Walgreens Boots Alliance’s payout ratio is -14.84%.

Insider Buying and Selling at Walgreens Boots Alliance

In related news, Director Inderpal S. Bhandari purchased 3,000 shares of Walgreens Boots Alliance stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $18.05 per share, for a total transaction of $54,150.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $54,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WBA. Highlander Capital Management LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth $26,000. Pineridge Advisors LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth $26,000. Venturi Wealth Management LLC raised its stake in Walgreens Boots Alliance by 1,241.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 981 shares during the period. Rocky Mountain Advisers LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth $30,000. Finally, Quest Partners LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth $30,000. 58.59% of the stock is currently owned by institutional investors.

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.