Korea Investment CORP Has $7.39 Million Holdings in Walgreens Boots Alliance, Inc. $WBA

Key Points

• Korea Investment CORP significantly increased its stake in Walgreens Boots Alliance by 126.3%, owning approximately 661,427 shares valued at about $7.39 million as of the latest reporting period.
• Several other institutional investors, including Townsquare Capital LLC and Central Pacific Bank Trust Division, have also modified their holdings in Walgreens, indicating strong interest among institutional investors with 58.59% of the company's stock now owned by them.
• Walgreens Boots Alliance reported $0.38 earnings per share for the last quarter, exceeding analyst expectations of $0.34, along with a revenue increase of 7.2% year-over-year, reaching $38.99 billion.

Korea Investment CORP lifted its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 126.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 661,427 shares of the pharmacy operator's stock after purchasing an additional 369,200 shares during the period. Korea Investment CORP owned approximately 0.08% of Walgreens Boots Alliance worth $7,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Townsquare Capital LLC lifted its holdings in Walgreens Boots Alliance by 2.3% in the first quarter. Townsquare Capital LLC now owns 44,104 shares of the pharmacy operator's stock valued at $493,000 after buying an additional 996 shares during the period. Central Pacific Bank Trust Division increased its stake in Walgreens Boots Alliance by 28.6% in the first quarter. Central Pacific Bank Trust Division now owns 4,500 shares of the pharmacy operator's stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Walgreens Boots Alliance by 6.6% during the first quarter. Frank Rimerman Advisors LLC now owns 17,682 shares of the pharmacy operator's stock worth $198,000 after acquiring an additional 1,094 shares in the last quarter. Independent Advisor Alliance increased its position in shares of Walgreens Boots Alliance by 3.0% during the first quarter. Independent Advisor Alliance now owns 39,978 shares of the pharmacy operator's stock worth $447,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Twelve Points Wealth Management LLC increased its position in shares of Walgreens Boots Alliance by 4.5% during the first quarter. Twelve Points Wealth Management LLC now owns 27,837 shares of the pharmacy operator's stock worth $311,000 after acquiring an additional 1,199 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company's stock.

Analyst Upgrades and Downgrades

WBA has been the subject of a number of analyst reports. UBS Group reaffirmed a "neutral" rating on shares of Walgreens Boots Alliance in a research report on Thursday, June 26th. Wall Street Zen began coverage on shares of Walgreens Boots Alliance in a research note on Wednesday, May 21st. They set a "hold" rating for the company. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Walgreens Boots Alliance in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Walgreens Boots Alliance currently has an average rating of "Reduce" and a consensus price target of $10.59.

Walgreens Boots Alliance Price Performance

WBA stock opened at $12.07 on Friday. The company has a 50 day simple moving average of $11.63 and a 200 day simple moving average of $11.17. The stock has a market cap of $10.45 billion, a price-to-earnings ratio of -1.66, a P/E/G ratio of 1.43 and a beta of 0.80. Walgreens Boots Alliance, Inc. has a 1 year low of $8.08 and a 1 year high of $13.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.60 and a quick ratio of 0.32.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last posted its earnings results on Thursday, June 26th. The pharmacy operator reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. Walgreens Boots Alliance had a negative net margin of 4.07% and a positive return on equity of 17.66%. The firm had revenue of $38.99 billion for the quarter, compared to analyst estimates of $36.72 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts anticipate 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.

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