GABELLI & Co INVESTMENT ADVISERS INC. Makes New Investment in Walgreens Boots Alliance, Inc. $WBA

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. purchased 194,950 shares of Walgreens Boots Alliance, valued at approximately $2,178,000, indicating institutional interest in the company.
• Walgreens reported $0.38 earnings per share (EPS) for the quarter, surpassing analysts' expectations, with a revenue rise of 7.2% compared to the previous year.
• The stock currently holds a consensus rating of "Reduce" from analysts, with an average target price of $10.59 amidst varying ratings from different brokerages.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 194,950 shares of the pharmacy operator's stock, valued at approximately $2,178,000.

A number of other hedge funds have also modified their holdings of the company. Curat Global LLC purchased a new position in shares of Walgreens Boots Alliance in the first quarter worth $27,000. Sentry Investment Management LLC purchased a new position in shares of Walgreens Boots Alliance in the first quarter worth $27,000. Colonial Trust Co SC lifted its holdings in shares of Walgreens Boots Alliance by 79.5% in the fourth quarter. Colonial Trust Co SC now owns 2,928 shares of the pharmacy operator's stock worth $27,000 after buying an additional 1,297 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Walgreens Boots Alliance by 135.8% in the first quarter. Federated Hermes Inc. now owns 3,152 shares of the pharmacy operator's stock worth $35,000 after buying an additional 1,815 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Walgreens Boots Alliance in the first quarter worth $43,000. 58.59% of the stock is currently owned by institutional investors.

Walgreens Boots Alliance Stock Performance

Shares of NASDAQ WBA remained flat at $11.98 during mid-day trading on Friday. The stock's 50-day moving average is $11.68 and its 200 day moving average is $11.23. The company has a current ratio of 0.60, a quick ratio of 0.32 and a debt-to-equity ratio of 0.96. The stock has a market cap of $10.37 billion, a PE ratio of -1.64, a P/E/G ratio of 1.42 and a beta of 0.80. Walgreens Boots Alliance, Inc. has a 12-month low of $8.08 and a 12-month high of $13.25.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The pharmacy operator reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. The firm had revenue of $38.99 billion for the quarter, compared to analysts' expectations of $36.72 billion. Walgreens Boots Alliance had a negative net margin of 4.07% and a positive return on equity of 17.66%. The business's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Analysts expect that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WBA. Wall Street Zen began coverage on shares of Walgreens Boots Alliance in a research note on Wednesday, May 21st. They set a "hold" rating on the stock. Morgan Stanley reaffirmed an "underweight" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, Walgreens Boots Alliance presently has a consensus rating of "Reduce" and a consensus price target of $10.59.

About Walgreens Boots Alliance

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.