Zions Bancorporation raised its stake in shares of Walgreens Boots Alliance by 983.3% in the 3rd quarter. (NYSE:GNC) [Trend Analysis], as shares plunging -8.89% to $4.51 with a share volume of 4.55 Million.
Walgreens started buying shares of AmerisourceBergen in 2013, when it entered a 10-year supply agreement with the company. Analyst's mean target price for WBA is $86.13 while analysts mean recommendation is 2.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
WBA has been the subject of a number of recent research reports. Citigroup decreased their price target on Walgreens Boots Alliance from $95.00 to $81.00 and set a "buy" rating on the stock in a report on Thursday, November 2nd. Finally, Loop Capital set a $90.00 target price on Walgreens Boots Alliance and gave the stock a "buy" rating in a report on Thursday, October 26th. The shares now trade at $53.32 and have been able to report a change of -4.68% over the past one week.
On Tuesday, industry experts said they struggle to see much of an upside in the rumored move by Walgreens. The company's 50-day moving average is $78.35 and its 200 day moving average is $80.65.
CEO Pessina drove the Walgreens-Boots Alliance deal and more recently agreed to acquire 1,932 stores from smaller US rival Rite Aid, partly in a bid to improve its ability to negotiate for lower drug costs. The corporation has a market cap of US$67.42 Billion. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
Returns and Valuations for Walgreens Boots Alliance, Inc. During the same period in the prior year, the firm posted $1.10 EPS. During the same period in the previous year, the company posted $1.10 earnings per share. equities analysts anticipate that Walgreens Boots Alliance Inc will post 5.71 EPS for the current year. 3,997,900 shares of the company traded hands, compared to its average volume of 6,008,662. This repurchase authorization allows the pharmacy operator to repurchase shares of its stock through open market purchases. The PEG ratio is used to determine a stock's value while taking the company's earnings growth into account, and is considered to provide a more complete picture than the P/E ratio.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors use this ratio to decide what multiple of earnings a share is worth. This represents a $1.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, February 14th. Walgreens Boots Alliance's payout ratio is now 44.20%.
Walgreens has highlighted that it tends to prefer partnerships, which analysts say could eventually turn into acquisitions. If you are viewing this article on another publication, it was copied illegally and republished in violation of USA and global copyright and trademark legislation.
Several matter pinch shares of GNC Holdings, Inc.
As far as the news revolving around Walgreens-AmerisourceBergen agreement is concerned, many market researchers view this takeover rumor to be strategic, although the companies themselves have remained silent on this speculative issue. Its pharmacy, health and wellness services include retail, specialty, infusion and respiratory services, mail service and convenient care clinics.
The deal could also be Walgreens response to the potential of online retailer Amazon entering the pharmacy business.More news: South Korean president to meet North Korean leader's sister