Breaking News
Get 40% Off 0
😲 Missed the +20.8% surge in our stock strategy last month? Not again! Get premium insights Get 40% Off Now

Walgreens shares dip as market sees mixed results

Published Nov 17, 2023 10:26
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect
 
WBA
+2.11%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US500
-0.61%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
-0.46%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AMZN
-0.97%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MCK
-0.70%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CVS
+1.41%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

NEW YORK - Walgreens Boots Alliance Inc. (NASDAQ:WBA) experienced a downturn on Thursday, ending its two-day rally with a 3.71% drop in stock price to $20.75. The decline came amid a day of mixed market performance, where the S&P 500 Index saw a slight increase of 0.12%, while the Dow Jones Industrial Average edged down by 0.13%.

The pharmacy chain's performance was lackluster compared to its industry peers on the same day. Amazon.com Inc. (NASDAQ:AMZN) saw a modest decline in shares by only 0.26%, and CVS Health Corp.'s (NYSE:NYSE:CVS) stocks slipped by 1.27%. In contrast, McKesson Corp. (NYSE:NYSE:MCK) enjoyed an uptick of 0.99%.

Despite Thursday's fall, Walgreens' closing price remains significantly below its 52-week high of $42.29 reached on December 13, 2022, missing that peak by $21.54.

Trading activity for Walgreens also fell short of its usual pace, with volumes registering 2 million shares below the 50-day average. This decrease in trading volume may reflect investors' cautious approach amid the current market conditions.

Investors and market watchers will continue to monitor Walgreens' performance closely, especially in relation to its competitors, as it navigates through the fluctuating retail pharmacy landscape.

InvestingPro Insights

According to InvestingPro data, Walgreens Boots Alliance Inc. has a market cap of 17.93B USD and a negative P/E ratio of -5.81. Despite trading near its 52-week low, the company's revenue growth has been accelerating, with a 4.81% increase in the last twelve months as of Q4 2023. Moreover, the company's dividend yield stands at a significant 9.25% as of 2023.

InvestingPro Tips highlight that Walgreens has consistently raised its dividend for 48 consecutive years, reflecting a strong commitment to returning capital to shareholders. Additionally, despite the recent downturn, Walgreens remains a prominent player in the Consumer Staples Distribution & Retail industry. However, it's also important to note that the company's short-term obligations exceed its liquid assets, which may pose a challenge.

For more insights and a total of 13 additional InvestingPro Tips, consider exploring the InvestingPro platform. This could provide a more comprehensive understanding of Walgreens' financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Walgreens shares dip as market sees mixed results
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email