TIG Advisors LLC Raises Position in Walgreens Boots Alliance, Inc. $WBA

Key Points

• TIG Advisors LLC increased its holdings in Walgreens Boots Alliance by an impressive 2,729.3%, acquiring over 2 million shares, which now represent 1.5% of its portfolio.
• Despite a net margin of -4.07%, Walgreens Boots Alliance reported a 7.2% year-over-year revenue growth for the quarter, with earnings per share exceeding analysts' expectations.
• The stock currently holds an average rating of "Reduce" from analysts, with a consensus price target of $10.15, reflecting cautious sentiment regarding its performance.

TIG Advisors LLC boosted its holdings in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 2,729.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,181,026 shares of the pharmacy operator's stock after buying an additional 2,103,940 shares during the quarter. Walgreens Boots Alliance accounts for 1.5% of TIG Advisors LLC's investment portfolio, making the stock its 21st largest position. TIG Advisors LLC owned approximately 0.25% of Walgreens Boots Alliance worth $24,362,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Townsquare Capital LLC lifted its holdings in Walgreens Boots Alliance by 2.3% during the 1st quarter. Townsquare Capital LLC now owns 44,104 shares of the pharmacy operator's stock worth $493,000 after buying an additional 996 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of 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 purchasing an additional 1,000 shares in the last quarter. MAI Capital Management raised its holdings in shares of Walgreens Boots Alliance by 1.9% in the 1st quarter. MAI Capital Management now owns 57,827 shares of the pharmacy operator's stock valued at $646,000 after purchasing an additional 1,055 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of Walgreens Boots Alliance by 6.6% in the 1st quarter. Frank Rimerman Advisors LLC now owns 17,682 shares of the pharmacy operator's stock valued at $198,000 after purchasing an additional 1,094 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in shares of Walgreens Boots Alliance by 3.0% in the 1st quarter. Independent Advisor Alliance now owns 39,978 shares of the pharmacy operator's stock valued at $447,000 after purchasing an additional 1,150 shares in the last quarter. 58.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Walgreens Boots Alliance Price Performance

Walgreens Boots Alliance stock remained flat at $11.98 during midday trading on Friday. Walgreens Boots Alliance, Inc. has a twelve month low of $8.08 and a twelve month high of $13.25. The company has a current ratio of 0.60, a quick ratio of 0.32 and a debt-to-equity ratio of 0.96. The company has a market cap of $10.37 billion, a PE ratio of -1.64, a price-to-earnings-growth ratio of 1.42 and a beta of 0.80. The firm has a fifty day moving average price of $11.75 and a two-hundred day moving average price of $11.31.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The pharmacy operator reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $38.99 billion for the quarter, compared to the consensus estimate of $36.72 billion. During the same period last year, the firm posted $0.63 EPS. Walgreens Boots Alliance's revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts forecast that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share 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.