AQR Arbitrage LLC Acquires New Holdings in Walgreens Boots Alliance, Inc. $WBA

Key Points

• AQR Arbitrage LLC has invested approximately $9.78 million in Walgreens Boots Alliance by purchasing 875,082 shares, representing about 0.10% of the company.
• Walgreens Boots Alliance reported better-than-expected earnings, with an EPS of $0.38 surpassing analysts' estimates, and revenues of $38.99 billion for the quarter, a 7.2% increase year-over-year.
• Multiple large investors increased their positions in Walgreens Boots Alliance, with 58.59% of the company's stock currently held by institutional investors.

AQR Arbitrage LLC acquired a new stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 875,082 shares of the pharmacy operator's stock, valued at approximately $9,775,000. AQR Arbitrage LLC owned about 0.10% of Walgreens Boots Alliance at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Colonial Trust Co SC boosted its position 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 valued at $27,000 after acquiring an additional 1,297 shares during the period. Sentry Investment Management LLC bought a new stake in shares of Walgreens Boots Alliance in the first quarter valued at about $27,000. Curat Global LLC bought a new stake in shares of Walgreens Boots Alliance in the first quarter valued at about $27,000. Federated Hermes Inc. boosted its position 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 valued at $35,000 after acquiring an additional 1,815 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Walgreens Boots Alliance in the first quarter valued at about $43,000. 58.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WBA. Wall Street Zen started coverage on shares of Walgreens Boots Alliance in a research report on Wednesday, May 21st. They issued a "hold" rating for the company. Morgan Stanley restated an "underweight" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. Finally, UBS Group restated a "neutral" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $10.15.

Walgreens Boots Alliance Stock Performance

Walgreens Boots Alliance stock remained flat at $11.98 during trading hours on Friday. The firm has a market capitalization of $10.37 billion, a PE ratio of -1.64, a P/E/G ratio of 1.42 and a beta of 0.80. The company has a current ratio of 0.60, a quick ratio of 0.32 and a debt-to-equity ratio of 0.96. Walgreens Boots Alliance, Inc. has a 52-week low of $8.08 and a 52-week high of $13.25. The firm's fifty day simple moving average is $11.75 and its 200-day simple moving average is $11.31.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate 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 company posted $0.63 earnings per share. Sell-side analysts expect that Walgreens Boots Alliance, Inc. will post 1.6 EPS for the current fiscal year.

Walgreens Boots Alliance Profile

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.