Barclays Increases Walgreens Boots Alliance (WBA) Price Target to $80.00

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Walgreens Boots Alliance (NASDAQ:WBA) had its target price lifted by investment analysts at Barclays from $77.00 to $80.00 in a report issued on Friday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the pharmacy operator’s stock. Barclays’ price target would indicate a potential upside of 8.84% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Tuesday, September 25th. ValuEngine raised shares of Walgreens Boots Alliance from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Robert W. Baird boosted their price target on shares of Walgreens Boots Alliance from $64.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 11th. Cowen cut shares of Walgreens Boots Alliance from an “outperform” rating to a “market perform” rating and set a $104.00 price target for the company. in a research note on Monday, July 23rd. Finally, BidaskClub raised shares of Walgreens Boots Alliance from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $77.67.

Walgreens Boots Alliance stock opened at $73.50 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.47 and a current ratio of 0.93. The company has a market cap of $72.35 billion, a P/E ratio of 14.41, a PEG ratio of 1.11 and a beta of 1.04. Walgreens Boots Alliance has a 1-year low of $59.07 and a 1-year high of $80.68.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its earnings results on Thursday, October 11th. The pharmacy operator reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.03. The business had revenue of $33.44 billion for the quarter, compared to analyst estimates of $33.64 billion. Walgreens Boots Alliance had a net margin of 3.36% and a return on equity of 21.22%. Research analysts expect that Walgreens Boots Alliance will post 5.98 EPS for the current year.

In other news, Director William C. Foote sold 2,736 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $65.99, for a total value of $180,548.64. Following the completion of the sale, the director now owns 10,943 shares of the company’s stock, valued at approximately $722,128.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stefano Pessina acquired 1,697,438 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was acquired at an average cost of $63.92 per share, with a total value of $108,500,236.96. The disclosure for this purchase can be found here. 14.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in WBA. BlackRock Inc. raised its holdings in Walgreens Boots Alliance by 1.5% in the 2nd quarter. BlackRock Inc. now owns 53,148,612 shares of the pharmacy operator’s stock worth $3,189,715,000 after purchasing an additional 771,307 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Walgreens Boots Alliance by 11.5% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,110,617 shares of the pharmacy operator’s stock worth $666,804,000 after purchasing an additional 1,143,819 shares in the last quarter. Northern Trust Corp raised its holdings in Walgreens Boots Alliance by 1.9% in the 2nd quarter. Northern Trust Corp now owns 11,102,159 shares of the pharmacy operator’s stock worth $666,296,000 after purchasing an additional 208,235 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Walgreens Boots Alliance by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,875,615 shares of the pharmacy operator’s stock worth $652,699,000 after purchasing an additional 320,484 shares in the last quarter. Finally, LSV Asset Management raised its holdings in Walgreens Boots Alliance by 17.2% in the 2nd quarter. LSV Asset Management now owns 8,704,233 shares of the pharmacy operator’s stock worth $522,384,000 after purchasing an additional 1,277,546 shares in the last quarter. 61.92% of the stock is owned by institutional investors.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics.

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