Walgreens Boots Alliance, Inc. $WBA Shares Sold by Solas Capital Management LLC

Key Points

• Solas Capital Management LLC has reduced its stake in Walgreens Boots Alliance by 29.5%, selling 330,000 shares and now holding 786,787 shares which represent about 4.9% of its investment portfolio.
• Walgreens Boots Alliance reported $0.38 earnings per share (EPS) for the quarter, surpassing analysts' expectations of $0.34, with quarterly revenues increasing by 7.2% year-over-year.
• Institutional investors and hedge funds currently own 58.59% of Walgreens Boots Alliance's stock, indicating significant institutional interest in the company.

Solas Capital Management LLC cut its stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 29.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 786,787 shares of the pharmacy operator's stock after selling 330,000 shares during the period. Walgreens Boots Alliance accounts for about 4.9% of Solas Capital Management LLC's portfolio, making the stock its 10th largest position. Solas Capital Management LLC owned about 0.09% of Walgreens Boots Alliance worth $8,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Curat Global LLC purchased a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at about $27,000. Sentry Investment Management LLC acquired a new position in shares of Walgreens Boots Alliance during the 1st quarter worth about $27,000. Colonial Trust Co SC lifted its position in shares of Walgreens Boots Alliance by 79.5% in the fourth quarter. Colonial Trust Co SC now owns 2,928 shares of the pharmacy operator's stock valued at $27,000 after acquiring an additional 1,297 shares in the last quarter. Federated Hermes Inc. boosted its stake in Walgreens Boots Alliance by 135.8% during the 1st quarter. Federated Hermes Inc. now owns 3,152 shares of the pharmacy operator's stock worth $35,000 after purchasing an additional 1,815 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Walgreens Boots Alliance in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 58.59% of the company's stock.

Wall Street Analysts Forecast Growth

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

Walgreens Boots Alliance Stock Performance

NASDAQ:WBA remained flat at $11.98 during midday trading on Wednesday. The company has a market capitalization of $10.37 billion, a P/E ratio of -1.64, a PEG ratio of 1.42 and a beta of 0.80. The firm's 50 day simple moving average is $11.71 and its 200 day simple moving average is $11.29. Walgreens Boots Alliance, Inc. has a one year low of $8.08 and a one year 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.

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