Alpine Global Management LLC Invests $1.12 Million in Walgreens Boots Alliance, Inc. $WBA

Key Points

• Alpine Global Management LLC acquired a new stake in Walgreens Boots Alliance, purchasing 100,000 shares valued at approximately $1.1 million.
• Walgreens Boots Alliance reported quarterly earnings of $0.38 EPS, surpassing consensus estimates of $0.34, and experienced a revenue increase of 7.2% compared to the previous year.
• Wall Street analysts have mixed ratings on Walgreens Boots Alliance, with a consensus "Reduce" rating and an average target price of $10.15.

Alpine Global Management LLC acquired a new stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,000 shares of the pharmacy operator's stock, valued at approximately $1,117,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Two Sigma Advisers LP raised its stake in shares of Walgreens Boots Alliance by 186.3% in the fourth quarter. Two Sigma Advisers LP now owns 7,740,100 shares of the pharmacy operator's stock worth $72,215,000 after purchasing an additional 5,036,300 shares during the last quarter. Wealthquest Corp purchased a new stake in Walgreens Boots Alliance during the first quarter valued at approximately $38,457,000. National Bank of Canada FI grew its stake in shares of Walgreens Boots Alliance by 1,223.1% during the first quarter. National Bank of Canada FI now owns 3,582,442 shares of the pharmacy operator's stock valued at $40,016,000 after buying an additional 3,311,682 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Walgreens Boots Alliance by 101.2% during the fourth quarter. Two Sigma Investments LP now owns 4,595,507 shares of the pharmacy operator's stock valued at $42,876,000 after buying an additional 2,311,806 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Walgreens Boots Alliance in the first quarter worth approximately $19,760,000. Institutional investors own 58.59% of the company's stock.

Wall Street Analyst Weigh In

WBA has been the topic of several recent research reports. UBS Group reaffirmed a "neutral" rating on shares of Walgreens Boots Alliance in a research report on Thursday, June 26th. Morgan Stanley reissued an "underweight" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. Finally, 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. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $10.15.

Walgreens Boots Alliance Stock Performance

Shares of WBA stock remained flat at $11.98 during trading hours on Wednesday. Walgreens Boots Alliance, Inc. has a 12 month low of $8.08 and a 12 month high of $13.25. The business's 50-day simple moving average is $11.71 and its two-hundred day simple moving average is $11.29. The stock has a market capitalization of $10.37 billion, a P/E ratio of -1.64, a P/E/G ratio of 1.42 and a beta of 0.80. The company has a quick ratio of 0.32, a current ratio of 0.60 and a debt-to-equity ratio of 0.96.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last announced its earnings results on Thursday, June 26th. The pharmacy operator reported $0.38 earnings per share (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 analyst estimates of $36.72 billion. Walgreens Boots Alliance had a negative net margin of 4.07% and a positive return on equity of 17.66%. Walgreens Boots Alliance's revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. On average, equities analysts expect that Walgreens Boots Alliance, Inc. will post 1.6 EPS for the current fiscal year.

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.