Solas Capital Management LLC Reduces Stake in Walgreens Boots Alliance, Inc. $WBA

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 lessened its position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 29.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 786,787 shares of the pharmacy operator's stock after selling 330,000 shares during the period. Walgreens Boots Alliance makes up about 4.9% of Solas Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. Solas Capital Management LLC owned about 0.09% of Walgreens Boots Alliance worth $8,788,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Walgreens Boots Alliance by 10.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,580,827 shares of the pharmacy operator's stock valued at $162,868,000 after buying an additional 1,425,689 shares during the period. Northern Trust Corp boosted its holdings in shares of Walgreens Boots Alliance by 18.8% in the fourth quarter. Northern Trust Corp now owns 8,896,742 shares of the pharmacy operator's stock valued at $83,007,000 after buying an additional 1,407,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Walgreens Boots Alliance by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,972,514 shares of the pharmacy operator's stock valued at $74,384,000 after buying an additional 378,039 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Walgreens Boots Alliance by 186.3% in the fourth quarter. Two Sigma Advisers LP now owns 7,740,100 shares of the pharmacy operator's stock valued at $72,215,000 after buying an additional 5,036,300 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Walgreens Boots Alliance by 23.5% in the first quarter. Deutsche Bank AG now owns 7,567,154 shares of the pharmacy operator's stock valued at $84,525,000 after buying an additional 1,441,780 shares during the period. Institutional investors and hedge funds own 58.59% of the company's stock.

Analyst Ratings Changes

WBA has been the subject of several recent research reports. Wall Street Zen initiated coverage on shares of Walgreens Boots Alliance in a report on Wednesday, May 21st. They set a "hold" rating for the company. UBS Group restated a "neutral" rating on shares of Walgreens Boots Alliance in a report on Thursday, June 26th. Finally, Morgan Stanley restated an "underweight" rating on shares of Walgreens Boots Alliance in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $10.15.

Walgreens Boots Alliance Stock Performance

Shares of WBA remained flat at $11.98 during trading hours on Friday. The stock has a market capitalization of $10.37 billion, a PE ratio of -1.64, a P/E/G ratio of 1.42 and a beta of 0.80. The business has a 50-day moving average of $11.74 and a 200 day moving average of $11.31. Walgreens Boots Alliance, Inc. has a 12-month low of $8.08 and a 12-month 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 issued its quarterly earnings data on Thursday, June 26th. The pharmacy operator reported $0.38 earnings per share 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 analyst estimates 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 company's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, analysts predict that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current year.

Walgreens Boots Alliance Company 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.