Walgreens Boots Alliance (NASDAQ:WBA) Announces Earnings Results

Walgreens Boots Alliance (NASDAQ:WBA) announced its quarterly earnings data on Thursday. The pharmacy operator reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.38, Briefing.com reports. Walgreens Boots Alliance had a return on equity of 10.48% and a net margin of 0.40%. The business had revenue of $37.05 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Walgreens Boots Alliance updated its FY24 guidance to $3.20-3.35 EPS and its FY 2024 guidance to 3.200-3.350 EPS.

Walgreens Boots Alliance Price Performance

Shares of NASDAQ:WBA opened at $21.69 on Friday. The firm has a 50 day simple moving average of $21.72 and a 200 day simple moving average of $22.28. The company has a market cap of $18.71 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 1.30 and a beta of 0.73. Walgreens Boots Alliance has a one year low of $19.68 and a one year high of $36.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.66 and a quick ratio of 0.30.

Walgreens Boots Alliance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Friday, February 16th. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently 151.52%.

Analysts Set New Price Targets

WBA has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Walgreens Boots Alliance from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday. Bank of America reduced their target price on Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday. Raymond James restated a “market perform” rating on shares of Walgreens Boots Alliance in a research note on Tuesday. Barclays initiated coverage on Walgreens Boots Alliance in a report on Wednesday, January 3rd. They set an “underweight” rating and a $21.00 price target for the company. Finally, TheStreet raised shares of Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a research report on Monday, January 8th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Walgreens Boots Alliance has a consensus rating of “Hold” and an average target price of $25.00.

Insider Activity at Walgreens Boots Alliance

In related news, CEO Timothy C. Wentworth acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was acquired at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 585,122 shares of the company’s stock, valued at approximately $14,171,654.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Walgreens Boots Alliance news, Director Valerie B. Jarrett acquired 4,456 shares of the stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $22.44 per share, with a total value of $99,992.64. Following the transaction, the director now owns 4,456 shares in the company, valued at approximately $99,992.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy C. Wentworth bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were acquired at an average price of $24.22 per share, for a total transaction of $242,200.00. Following the transaction, the chief executive officer now owns 585,122 shares in the company, valued at $14,171,654.84. The disclosure for this purchase can be found here. 17.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Walgreens Boots Alliance

A number of institutional investors and hedge funds have recently modified their holdings of the business. Milestone Investment Advisors LLC acquired a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at $31,000. Penserra Capital Management LLC bought a new position in shares of Walgreens Boots Alliance during the 4th quarter worth about $34,000. Groupama Asset Managment acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter valued at about $42,000. Financial Freedom LLC bought a new stake in Walgreens Boots Alliance in the 4th quarter valued at about $46,000. Finally, Compass Wealth Management LLC bought a new position in Walgreens Boots Alliance in the fourth quarter worth approximately $47,000. 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.