JPMorgan Chase & Co. Increases Walgreens Boots Alliance (WBA) Price Target to $91.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target hoisted by JPMorgan Chase & Co. from $83.00 to $91.00 in a research note issued to investors on Monday. The brokerage currently has an overweight rating on the pharmacy operator’s stock.

A number of other brokerages have also recently commented on WBA. BidaskClub upgraded Walgreens Boots Alliance from a buy rating to a strong-buy rating in a research report on Friday, September 28th. ValuEngine upgraded Walgreens Boots Alliance from a strong sell rating to a sell rating in a research report on Friday, September 21st. Royal Bank of Canada set a $82.00 price target on Walgreens Boots Alliance and gave the stock an outperform rating in a research report on Monday. Zacks Investment Research upgraded Walgreens Boots Alliance from a hold rating to a buy rating and set a $81.00 price target for the company in a research report on Tuesday, September 25th. Finally, TheStreet upgraded Walgreens Boots Alliance from a c+ rating to a b rating in a research report on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Walgreens Boots Alliance has an average rating of Hold and a consensus target price of $77.11.

WBA stock opened at $74.15 on Monday. Walgreens Boots Alliance has a fifty-two week low of $59.07 and a fifty-two week high of $80.68. 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 stock has a market capitalization of $72.35 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.11 and a beta of 1.04.

In related news, Director William C. Foote sold 2,736 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $65.99, for a total transaction of $180,548.64. Following the completion of the sale, the director now owns 10,943 shares in the company, valued at $722,128.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ornella Barra bought 1,700,000 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The shares were acquired at an average price of $65.15 per share, with a total value of $110,755,000.00. The disclosure for this purchase can be found here. Company insiders own 14.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in WBA. Lynch & Associates IN grew its holdings in Walgreens Boots Alliance by 2.2% during the 3rd quarter. Lynch & Associates IN now owns 43,607 shares of the pharmacy operator’s stock valued at $3,179,000 after buying an additional 955 shares in the last quarter. LVM Capital Management Ltd. MI purchased a new position in Walgreens Boots Alliance during the 3rd quarter valued at approximately $221,000. Boenning & Scattergood Inc. purchased a new position in Walgreens Boots Alliance during the 3rd quarter valued at approximately $202,000. Cardinal Capital Management Inc. grew its holdings in Walgreens Boots Alliance by 1.3% during the 3rd quarter. Cardinal Capital Management Inc. now owns 226,290 shares of the pharmacy operator’s stock valued at $16,497,000 after buying an additional 2,970 shares in the last quarter. Finally, Bangor Savings Bank grew its holdings in Walgreens Boots Alliance by 13.5% during the 3rd quarter. Bangor Savings Bank now owns 26,262 shares of the pharmacy operator’s stock valued at $1,915,000 after buying an additional 3,123 shares in the last quarter. Hedge funds and other institutional investors own 61.92% of the company’s stock.

Walgreens Boots Alliance Company Profile

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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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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