Connor Clark & Lunn Investment Management Ltd. Takes $3.45 Million Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Walgreens Boots Alliance, Inc. (NASDAQ:WBA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 384,825 shares of the pharmacy operator's stock, valued at approximately $3,448,000.

Other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in Walgreens Boots Alliance during the 3rd quarter worth approximately $322,000. Sasco Capital Inc. CT increased its position in shares of Walgreens Boots Alliance by 13.6% in the 3rd quarter. Sasco Capital Inc. CT now owns 1,041,440 shares of the pharmacy operator's stock valued at $9,331,000 after purchasing an additional 124,950 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Walgreens Boots Alliance by 23.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 340,431 shares of the pharmacy operator's stock worth $3,050,000 after buying an additional 64,586 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Walgreens Boots Alliance during the third quarter worth approximately $149,000. Finally, Quest Partners LLC boosted its holdings in Walgreens Boots Alliance by 379.4% in the third quarter. Quest Partners LLC now owns 10,499 shares of the pharmacy operator's stock valued at $94,000 after purchasing an additional 8,309 shares in the last quarter. 58.59% of the stock is owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Price Performance

WBA traded up $0.40 during midday trading on Monday, reaching $9.06. 29,634,041 shares of the company's stock were exchanged, compared to its average volume of 17,541,830. Walgreens Boots Alliance, Inc. has a one year low of $8.08 and a one year high of $27.05. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of -0.91, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. The business has a 50-day simple moving average of $9.14 and a two-hundred day simple moving average of $11.45. The company has a quick ratio of 0.37, a current ratio of 0.68 and a debt-to-equity ratio of 0.67.

Walgreens Boots Alliance (NASDAQ:WBA - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Walgreens Boots Alliance had a negative net margin of 5.85% and a positive return on equity of 14.23%. The firm had revenue of $37.50 billion during the quarter, compared to the consensus estimate of $35.75 billion. During the same period last year, the firm posted $0.67 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. As a group, research analysts predict that Walgreens Boots Alliance, Inc. will post 1.53 EPS for the current year.

Walgreens Boots Alliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 11.04%. The ex-dividend date of this dividend is Monday, November 18th. Walgreens Boots Alliance's dividend payout ratio (DPR) is currently -9.99%.

Wall Street Analyst Weigh In

A number of research analysts have commented on WBA shares. Evercore ISI lifted their price objective on shares of Walgreens Boots Alliance from $7.50 to $10.00 and gave the company an "in-line" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on Walgreens Boots Alliance from $20.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, August 30th. Barclays upped their price target on Walgreens Boots Alliance from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 16th. Truist Financial lowered their price objective on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a "hold" rating on the stock in a research report on Monday, October 7th. Finally, Morgan Stanley cut their price objective on shares of Walgreens Boots Alliance from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $12.88.

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.