Corebridge Financial Inc. Reduces Position in Walgreens Boots Alliance, Inc. $WBA

Key Points

• Corebridge Financial Inc. reduced its stake in Walgreens Boots Alliance by 12.1%, now holding 229,423 shares worth approximately $2.56 million after selling 31,684 shares in the first quarter.
• Walgreens Boots Alliance reported $0.38 earnings per share for the latest quarter, exceeding estimates of $0.34, with revenues of $38.99 billion up 7.2% year-over-year.
• Analysts maintain a mixed outlook for Walgreens Boots Alliance, with ratings including one Buy, six Holds, and four Sells, and a consensus target price of $10.15.

Corebridge Financial Inc. lessened its position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,423 shares of the pharmacy operator's stock after selling 31,684 shares during the period. Corebridge Financial Inc.'s holdings in Walgreens Boots Alliance were worth $2,563,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC lifted its position in shares of Walgreens Boots Alliance by 79.5% during the fourth quarter. Colonial Trust Co SC now owns 2,928 shares of the pharmacy operator's stock worth $27,000 after acquiring an additional 1,297 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in Walgreens Boots Alliance during the 1st quarter worth about $27,000. Curat Global LLC purchased a new stake in shares of Walgreens Boots Alliance in the first quarter worth about $27,000. 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 stake in shares of Walgreens Boots Alliance in the first quarter worth about $43,000. Hedge funds and other institutional investors own 58.59% of the company's stock.

Walgreens Boots Alliance Stock Performance

Walgreens Boots Alliance stock remained flat at $11.98 during mid-day trading on Thursday. Walgreens Boots Alliance, Inc. has a fifty-two week low of $8.08 and a fifty-two week high of $13.25. The company has a quick ratio of 0.32, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average price of $11.73 and a 200 day moving average price of $11.29. The company has a market cap of $10.37 billion, a PE ratio of -1.64, a PEG ratio of 1.42 and a beta of 0.80.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The pharmacy operator reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The company 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%. Walgreens Boots Alliance's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, sell-side analysts anticipate that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WBA shares. Morgan Stanley reiterated an "underweight" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. UBS Group restated a "neutral" rating on shares of Walgreens Boots Alliance in a research report on Thursday, June 26th. Finally, Wall Street Zen assumed 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 stock currently has a consensus rating of "Reduce" and an average target price of $10.15.

Walgreens Boots Alliance Company 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.