Walgreens Boots Alliance, Inc. (NASDAQ:WBA – Free Report) – Equities research analysts at Zacks Research decreased their Q4 2023 earnings estimates for shares of Walgreens Boots Alliance in a research note issued on Tuesday, July 11th. Zacks Research analyst R. Anand now forecasts that the pharmacy operator will post earnings of $0.71 per share for the quarter, down from their previous estimate of $1.00. The consensus estimate for Walgreens Boots Alliance’s current full-year earnings is $4.00 per share. Zacks Research also issued estimates for Walgreens Boots Alliance’s Q1 2024 earnings at $0.97 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $3.97 EPS, Q1 2025 earnings at $0.80 EPS and FY2025 earnings at $4.55 EPS.
Other equities research analysts have also issued research reports about the stock. UBS Group cut their price target on shares of Walgreens Boots Alliance from $37.00 to $35.00 in a report on Tuesday, June 27th. Mizuho cut their price target on shares of Walgreens Boots Alliance from $35.00 to $31.00 in a report on Thursday, June 29th. Evercore ISI cut their price target on shares of Walgreens Boots Alliance from $36.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, March 22nd. StockNews.com started coverage on shares of Walgreens Boots Alliance in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Truist Financial cut their price target on shares of Walgreens Boots Alliance from $42.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Walgreens Boots Alliance currently has a consensus rating of “Hold” and an average price target of $37.23.
Walgreens Boots Alliance Stock Performance
Walgreens Boots Alliance (NASDAQ:WBA – Get Free Report) last announced its quarterly earnings data on Tuesday, June 27th. The pharmacy operator reported $1.00 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.07). Walgreens Boots Alliance had a negative net margin of 2.44% and a positive return on equity of 12.62%. The business had revenue of $35.42 billion for the quarter, compared to analyst estimates of $34.32 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis.
Institutional Investors Weigh In On Walgreens Boots Alliance
Hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC lifted its holdings in Walgreens Boots Alliance by 84,503.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,325,830 shares of the pharmacy operator’s stock valued at $311,053,000 after acquiring an additional 8,315,989 shares during the period. BlackRock Inc. lifted its holdings in Walgreens Boots Alliance by 4.6% in the first quarter. BlackRock Inc. now owns 63,406,129 shares of the pharmacy operator’s stock valued at $2,192,584,000 after acquiring an additional 2,797,885 shares during the period. Federated Hermes Inc. lifted its holdings in Walgreens Boots Alliance by 39.4% in the first quarter. Federated Hermes Inc. now owns 8,702,899 shares of the pharmacy operator’s stock valued at $300,946,000 after acquiring an additional 2,459,416 shares during the period. Renaissance Technologies LLC lifted its holdings in Walgreens Boots Alliance by 62.4% in the fourth quarter. Renaissance Technologies LLC now owns 4,159,800 shares of the pharmacy operator’s stock valued at $155,410,000 after acquiring an additional 1,597,800 shares during the period. Finally, Morgan Stanley lifted its holdings in Walgreens Boots Alliance by 10.7% in the fourth quarter. Morgan Stanley now owns 11,974,220 shares of the pharmacy operator’s stock valued at $447,357,000 after acquiring an additional 1,155,331 shares during the period. 57.89% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Walgreens Boots Alliance
In related news, EVP John Patrick Driscoll purchased 5,172 shares of the company’s stock in a transaction on Friday, June 30th. The shares were bought at an average cost of $28.42 per share, for a total transaction of $146,988.24. Following the completion of the purchase, the executive vice president now directly owns 59,050 shares of the company’s stock, valued at approximately $1,678,201. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.50% of the stock is currently owned by insiders.
Walgreens Boots Alliance Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 21st will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 6.46%. Walgreens Boots Alliance’s dividend payout ratio is currently -50.00%.
About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc operates as a pharmacy-led health and beauty retail company. It operates through two segments, the United States and International. The United States segment sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores.
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