Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Position Cut by Redwood Investment Management LLC

Redwood Investment Management LLC reduced its stake in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,538 shares of the pharmacy operator's stock after selling 49,641 shares during the period. Redwood Investment Management LLC's holdings in Walgreens Boots Alliance were worth $1,498,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. increased its stake in Walgreens Boots Alliance by 54.4% during the third quarter. Franklin Resources Inc. now owns 321,425 shares of the pharmacy operator's stock worth $2,893,000 after acquiring an additional 113,242 shares during the last quarter. Czech National Bank grew its holdings in shares of Walgreens Boots Alliance by 6.6% during the 4th quarter. Czech National Bank now owns 155,625 shares of the pharmacy operator's stock worth $1,452,000 after purchasing an additional 9,663 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth approximately $323,000. Assenagon Asset Management S.A. raised its holdings in Walgreens Boots Alliance by 2,599.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 622,703 shares of the pharmacy operator's stock valued at $5,810,000 after buying an additional 599,637 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in Walgreens Boots Alliance during the fourth quarter valued at approximately $141,000. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on WBA. Truist Financial dropped their price objective on shares of Walgreens Boots Alliance from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft downgraded Walgreens Boots Alliance from a "hold" rating to a "sell" rating and lowered their price target for the company from $11.00 to $9.00 in a report on Friday, February 28th. Wolfe Research upgraded Walgreens Boots Alliance to a "hold" rating in a research note on Monday, February 24th. Finally, StockNews.com initiated coverage on Walgreens Boots Alliance in a research report on Wednesday. They issued a "hold" rating for the company. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.59.

Walgreens Boots Alliance Stock Down 0.2%

WBA traded down $0.03 on Wednesday, reaching $11.21. The company's stock had a trading volume of 2,969,068 shares, compared to its average volume of 20,966,663. Walgreens Boots Alliance, Inc. has a 1 year low of $8.08 and a 1 year high of $17.81. The business's 50 day moving average is $11.02 and its 200 day moving average is $10.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.64 and a quick ratio of 0.30. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of -1.09, a price-to-earnings-growth ratio of 1.31 and a beta of 0.77.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last released its earnings results on Tuesday, April 8th. The pharmacy operator reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. Walgreens Boots Alliance had a positive return on equity of 17.61% and a negative net margin of 5.87%. The company had revenue of $38.59 billion during the quarter, compared to analysts' expectations of $37.90 billion. During the same period in the prior year, the business posted $1.20 EPS. The business's revenue was up 4.1% on a year-over-year basis. As a group, research analysts forecast that Walgreens Boots Alliance, Inc. will post 1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Stefano Pessina acquired 832,258 shares of the business's stock in a transaction on Sunday, April 27th. The shares were purchased at an average price of $11.01 per share, for a total transaction of $9,163,160.58. Following the completion of the purchase, the chairman now directly owns 145,621,079 shares of the company's stock, valued at $1,603,288,079.79. This represents a 0.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.50% of the stock is owned by company insiders.

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.