Corebridge Financial Inc. Sells 31,684 Shares of 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. decreased its position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 12.1% during the first quarter, according to the company in 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 quarter. Corebridge Financial Inc.'s holdings in Walgreens Boots Alliance were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in WBA. Two Sigma Advisers LP increased its stake in Walgreens Boots Alliance by 186.3% in the 4th quarter. Two Sigma Advisers LP now owns 7,740,100 shares of the pharmacy operator's stock worth $72,215,000 after acquiring an additional 5,036,300 shares during the last quarter. Wealthquest Corp bought a new stake in Walgreens Boots Alliance in the 1st quarter worth approximately $38,457,000. National Bank of Canada FI increased its stake in Walgreens Boots Alliance by 1,223.1% in the 1st quarter. National Bank of Canada FI now owns 3,582,442 shares of the pharmacy operator's stock worth $40,016,000 after acquiring an additional 3,311,682 shares during the last quarter. Two Sigma Investments LP increased its stake in Walgreens Boots Alliance by 101.2% in the 4th quarter. Two Sigma Investments LP now owns 4,595,507 shares of the pharmacy operator's stock worth $42,876,000 after acquiring an additional 2,311,806 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Walgreens Boots Alliance in the 1st quarter worth approximately $19,760,000. Institutional investors own 58.59% of the company's stock.

Analyst Upgrades and Downgrades

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

Walgreens Boots Alliance Price Performance

Walgreens Boots Alliance stock remained flat at $11.98 during mid-day trading on Friday. The business has a fifty day moving average of $11.75 and a two-hundred day moving average of $11.32. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of -1.64, a P/E/G ratio of 1.42 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.32 and a current ratio of 0.60. Walgreens Boots Alliance, Inc. has a twelve month low of $8.08 and a twelve month high of $13.25.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The pharmacy operator reported $0.38 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 the consensus estimate of $36.72 billion. Walgreens Boots Alliance had a positive return on equity of 17.66% and a negative net margin of 4.07%.Walgreens Boots Alliance's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. On average, sell-side analysts forecast that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current 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.