Envestnet Asset Management Inc. Trims Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Walgreens Boots Alliance by 46.4% in Q1, now holding 90,832 shares valued at approximately $1,015,000.
• Despite Envestnet's decrease, other funds like Colonial Trust Co SC increased their positions, leading to significant hedging activities around Walgreens Boots Alliance.
• Analysts have outcomes mixed with four sell ratings, seven holds, and two buy ratings, giving the stock an average rating of "Hold" with a price target of $10.59.

Envestnet Asset Management Inc. decreased its position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 46.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,832 shares of the pharmacy operator's stock after selling 78,517 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Walgreens Boots Alliance were worth $1,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Colonial Trust Co SC lifted its stake in shares of Walgreens Boots Alliance by 79.5% during the 4th 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 during the last quarter. Sentry Investment Management LLC acquired a new position in Walgreens Boots Alliance during the 1st quarter worth approximately $27,000. Curat Global LLC bought a new position in Walgreens Boots Alliance in the 1st quarter valued at approximately $27,000. Central Pacific Bank Trust Division increased its position in Walgreens Boots Alliance by 28.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,500 shares of the pharmacy operator's stock valued at $50,000 after acquiring an additional 1,000 shares during the period. Finally, Strategic Investment Solutions Inc. IL boosted its stake in shares of Walgreens Boots Alliance by 133.6% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 6,100 shares of the pharmacy operator's stock valued at $57,000 after purchasing an additional 3,489 shares during the last quarter. Institutional investors and hedge funds own 58.59% of the company's stock.

Walgreens Boots Alliance Stock Performance

Shares of WBA stock traded up $0.02 during trading hours on Monday, hitting $11.66. The company's stock had a trading volume of 7,754,882 shares, compared to its average volume of 16,087,219. The company has a 50 day moving average of $11.43 and a 200 day moving average of $11.10. The stock has a market cap of $10.09 billion, a PE ratio of -1.60, a price-to-earnings-growth ratio of 1.37 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 12-month low of $8.08 and a 12-month high of $13.25.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last issued its quarterly earnings data 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 business 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 was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. On average, sell-side analysts forecast that Walgreens Boots Alliance, Inc. will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group reiterated a "neutral" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. Wall Street Zen initiated coverage on shares of Walgreens Boots Alliance in a report on Wednesday, May 21st. They issued a "hold" rating for the company. Finally, Morgan Stanley restated an "underweight" rating on shares of Walgreens Boots Alliance in a report on Thursday, June 26th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.59.

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.