Walgreens Boots Alliance (NASDAQ:WBA) Announces Quarterly Earnings Results

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) posted its earnings results on Thursday. The pharmacy operator reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.38, Briefing.com reports. The firm had revenue of $37.05 billion for the quarter, compared to the consensus estimate of $35.86 billion. Walgreens Boots Alliance had a positive return on equity of 12.11% and a negative net margin of 4.18%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 earnings per share. 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 Stock Up 3.2 %

NASDAQ WBA opened at $21.69 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.66 and a quick ratio of 0.30. Walgreens Boots Alliance has a 1 year low of $19.68 and a 1 year high of $36.58. The business’s 50-day moving average is $21.71 and its 200 day moving average is $22.27.

Walgreens Boots Alliance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. Walgreens Boots Alliance’s payout ratio is presently -14.29%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WBA. Barclays began coverage on Walgreens Boots Alliance in a research report on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 price objective on the stock. Bank of America lowered their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday. SVB Leerink lowered their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Monday, March 18th. HSBC restated a “reduce” rating and set a $20.00 price target (down previously from $27.00) on shares of Walgreens Boots Alliance in a research report on Tuesday, February 20th. Finally, TheStreet upgraded Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a research report on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Walgreens Boots Alliance has a consensus rating of “Hold” and a consensus price target of $25.00.

Get Our Latest Report on WBA

Insider Buying and Selling

In other Walgreens Boots Alliance news, Director Valerie B. Jarrett bought 4,456 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $22.44 per share, with a total value of $99,992.64. Following the completion of the purchase, the director now directly owns 4,456 shares of the company’s stock, valued at $99,992.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Valerie B. Jarrett acquired 4,456 shares of the business’s stock in a transaction on Monday, January 29th. The shares were acquired 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 legal filing with the SEC, which is available at this link. Also, Director Nancy M. Schlichting sold 15,209 shares of Walgreens Boots Alliance stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.05, for a total value of $350,567.45. The disclosure for this sale can be found here. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Walgreens Boots Alliance

Several large investors have recently made changes to their positions in WBA. Vontobel Holding Ltd. raised its holdings in Walgreens Boots Alliance by 104.6% in the 1st quarter. Vontobel Holding Ltd. now owns 36,922 shares of the pharmacy operator’s stock worth $1,752,000 after acquiring an additional 18,879 shares during the last quarter. Moors & Cabot Inc. grew its position in Walgreens Boots Alliance by 31.1% in the 1st quarter. Moors & Cabot Inc. now owns 20,791 shares of the pharmacy operator’s stock worth $931,000 after purchasing an additional 4,931 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Walgreens Boots Alliance by 27.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,569 shares of the pharmacy operator’s stock valued at $339,000 after acquiring an additional 1,651 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of Walgreens Boots Alliance by 0.5% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 63,483 shares of the pharmacy operator’s stock valued at $2,842,000 after acquiring an additional 310 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of Walgreens Boots Alliance by 14.2% during the 1st quarter. Baird Financial Group Inc. now owns 467,533 shares of the pharmacy operator’s stock valued at $20,932,000 after acquiring an additional 58,184 shares during the period. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Company Profile

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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.

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Earnings History for Walgreens Boots Alliance (NASDAQ:WBA)

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