Walgreens Boots Alliance (NASDAQ:WBA) Reaches New 1-Year Low at $10.56

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.56 and last traded at $10.64, with a volume of 702195 shares. The stock had previously closed at $10.68.

Analyst Upgrades and Downgrades

WBA has been the subject of several analyst reports. Morgan Stanley decreased their price target on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Evercore ISI lowered their price objective on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Truist Financial decreased their price target on Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, June 28th. UBS Group cut their target price on Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Walgreens Boots Alliance from $30.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Walgreens Boots Alliance presently has an average rating of “Hold” and an average price target of $16.86.

Walgreens Boots Alliance Trading Down 1.2 %

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 company’s 50-day moving average is $12.98 and its 200 day moving average is $17.32.

Walgreens Boots Alliance (NASDAQ:WBA) last announced 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). The business had revenue of $36.40 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $1.00 EPS. Research analysts predict that Walgreens Boots Alliance, Inc. will post 2.87 earnings per share for the current year.

Walgreens Boots Alliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.48%. Walgreens Boots Alliance’s dividend payout ratio is currently -14.84%.

Hedge Funds Weigh In On Walgreens Boots Alliance

Hedge funds have recently made changes to their positions in the company. Atlas Brown Inc. lifted its stake in Walgreens Boots Alliance by 1.8% in the 1st quarter. Atlas Brown Inc. now owns 31,593 shares of the pharmacy operator’s stock worth $685,000 after purchasing an additional 550 shares in the last quarter. Westpac Banking Corp grew its holdings in Walgreens Boots Alliance by 10.1% in the 4th quarter. Westpac Banking Corp now owns 6,100 shares of the pharmacy operator’s stock valued at $159,000 after buying an additional 560 shares in the last quarter. Shilanski & Associates Inc. increased its stake in shares of Walgreens Boots Alliance by 5.3% in the 1st quarter. Shilanski & Associates Inc. now owns 11,821 shares of the pharmacy operator’s stock worth $256,000 after acquiring an additional 591 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of 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 worth $696,000 after acquiring an additional 597 shares during the period. Finally, NBC Securities Inc. boosted its position in shares of 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.