Wittenberg Investment Management Inc. Acquires New Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Key Points

• Wittenberg Investment Management Inc. acquired a new position in Walgreens Boots Alliance, purchasing 25,000 shares valued at approximately $279,000 during the first quarter.
• Institutional investors hold a significant stake in Walgreens Boots Alliance, owning 58.59% of the company’s stock, with notable increases coming from firms such as Two Sigma Advisers LP and Invesco Ltd.
• Walgreens reported earnings of $0.38 EPS, exceeding expectations, with quarterly revenue reaching $38.99 billion, marking a 7.2% year-over-year increase.

Wittenberg Investment Management Inc. acquired a new stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,000 shares of the pharmacy operator's stock, valued at approximately $279,000.

Other institutional investors have also recently bought and sold shares of the company. Two Sigma Advisers LP grew its holdings in Walgreens Boots Alliance by 186.3% during 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 purchasing an additional 5,036,300 shares during the period. Wealthquest Corp acquired a new position in shares of Walgreens Boots Alliance in the 1st quarter valued at $38,457,000. Invesco Ltd. increased its position in shares of Walgreens Boots Alliance by 8.8% in the 4th quarter. Invesco Ltd. now owns 32,572,567 shares of the pharmacy operator's stock valued at $303,902,000 after buying an additional 2,631,332 shares in the last quarter. Two Sigma Investments LP grew its stake in Walgreens Boots Alliance by 101.2% in the fourth quarter. Two Sigma Investments LP now owns 4,595,507 shares of the pharmacy operator's stock valued at $42,876,000 after acquiring an additional 2,311,806 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at about $19,760,000. Institutional investors and hedge funds own 58.59% of the company's stock.

Walgreens Boots Alliance Stock Performance

Shares of WBA stock opened at $11.83 on Thursday. The stock has a market cap of $10.24 billion, a P/E ratio of -1.62, a P/E/G ratio of 1.37 and a beta of 0.80. The company has a fifty day moving average price of $11.46 and a two-hundred day moving average price of $11.10. Walgreens Boots Alliance, Inc. has a one year low of $8.08 and a one 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 quarterly earnings results on Thursday, June 26th. The pharmacy operator reported $0.38 EPS for the quarter, topping 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 business had revenue of $38.99 billion during the quarter, compared to analysts' expectations of $36.72 billion. During the same quarter last year, the company posted $0.63 earnings per share. Walgreens Boots Alliance's quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that Walgreens Boots Alliance, Inc. will post 1.6 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on WBA. Morgan Stanley restated an "underweight" 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 set a "hold" rating on the stock. Finally, UBS Group reaffirmed a "neutral" rating on shares of Walgreens Boots Alliance in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $10.59.

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.

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