Cullen Frost Bankers Inc. Trims Position in Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Cullen Frost Bankers Inc. lessened its position in shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) by 40.5% in the fourth quarter, Holdings Channel reports. The fund owned 19,434 shares of the pharmacy operator’s stock after selling 13,218 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Walgreens Boots Alliance were worth $181,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System increased its position in Walgreens Boots Alliance by 1.4% during the fourth quarter. Arizona State Retirement System now owns 213,082 shares of the pharmacy operator’s stock valued at $1,988,000 after acquiring an additional 2,855 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Walgreens Boots Alliance during the fourth quarter valued at about $312,000. M&T Bank Corp grew its holdings in Walgreens Boots Alliance by 5.7% during the fourth quarter. M&T Bank Corp now owns 211,631 shares of the pharmacy operator’s stock valued at $1,974,000 after purchasing an additional 11,473 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Walgreens Boots Alliance by 19.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,155,138 shares of the pharmacy operator’s stock valued at $122,737,000 after purchasing an additional 2,185,950 shares during the period. Finally, State of Michigan Retirement System grew its holdings in Walgreens Boots Alliance by 2.5% during the fourth quarter. State of Michigan Retirement System now owns 266,702 shares of the pharmacy operator’s stock valued at $2,488,000 after purchasing an additional 6,502 shares during the period. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada boosted their price target on Walgreens Boots Alliance from $9.00 to $12.00 and gave the company a “sector perform” rating in a report on Wednesday, January 15th. Wolfe Research raised Walgreens Boots Alliance to a “hold” rating in a report on Monday, February 24th. Evercore ISI boosted their price target on Walgreens Boots Alliance from $9.00 to $12.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Bank of America boosted their price target on Walgreens Boots Alliance from $7.50 to $8.50 and gave the company an “underperform” rating in a report on Monday, January 13th. Finally, Truist Financial cut their price target on Walgreens Boots Alliance from $13.00 to $12.00 and set a “hold” rating for the company in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.54.

Walgreens Boots Alliance Stock Performance

NASDAQ WBA opened at $11.39 on Friday. The business has a 50-day moving average price of $10.64 and a 200-day moving average price of $9.72. Walgreens Boots Alliance, Inc. has a twelve month low of $8.08 and a twelve month high of $22.05. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of -1.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.62. The company has a quick ratio of 0.30, a current ratio of 0.64 and a debt-to-equity ratio of 0.68.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Friday, January 10th. The pharmacy operator reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. 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 $39.50 billion during the quarter, compared to analyst estimates of $37.40 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that Walgreens Boots Alliance, Inc. will post 1.6 EPS for the current fiscal year.

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.