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

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

Several other research analysts have also issued reports on WBA. Citigroup increased their price target on shares of Walgreens Boots Alliance from $69.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday. Robert W. Baird increased their price target on shares of Walgreens Boots Alliance from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday. BidaskClub upgraded shares of Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Friday, June 22nd. Jefferies Financial Group lowered shares of Walgreens Boots Alliance from a “buy” rating to a “hold” rating and decreased their price target for the stock from $85.00 to $65.00 in a research note on Friday, June 29th. Finally, Loop Capital increased their price target on shares of Walgreens Boots Alliance to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.67.

Shares of Walgreens Boots Alliance stock opened at $73.50 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.47. The stock has a market capitalization of $72.35 billion, a P/E ratio of 14.41, a price-to-earnings-growth 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 issued its quarterly earnings results on Thursday, October 11th. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company had revenue of $33.44 billion during 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%. Equities research analysts expect that Walgreens Boots Alliance will post 5.98 earnings per share for the current fiscal year.

In other news, insider Stefano Pessina acquired 1,697,438 shares of Walgreens Boots Alliance stock in a transaction on Monday, July 16th. The stock was acquired at an average cost of $63.92 per share, for a total transaction of $108,500,236.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Ornella Barra acquired 1,700,000 shares of Walgreens Boots Alliance stock in a transaction on Monday, July 16th. The shares were purchased 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. 14.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Walgreens Boots Alliance during the 3rd quarter valued at about $154,000. Bank of Montreal Can boosted its holdings in shares of Walgreens Boots Alliance by 17.5% during the 3rd quarter. Bank of Montreal Can now owns 1,941,036 shares of the pharmacy operator’s stock valued at $141,502,000 after acquiring an additional 288,921 shares during the last quarter. Busey Trust CO boosted its holdings in shares of Walgreens Boots Alliance by 8.1% during the 3rd quarter. Busey Trust CO now owns 10,824 shares of the pharmacy operator’s stock valued at $789,000 after acquiring an additional 812 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Walgreens Boots Alliance by 10.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 7,649 shares of the pharmacy operator’s stock valued at $557,000 after acquiring an additional 703 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Walgreens Boots Alliance by 82.9% during the 3rd quarter. Pittenger & Anderson Inc. now owns 27,280 shares of the pharmacy operator’s stock valued at $1,989,000 after acquiring an additional 12,365 shares during the last quarter. 61.92% of the stock is currently owned by hedge funds and other 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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