Walgreens, Rite Aid to shed 865 stores for $950M

Posted December 22, 2016

1st Global Advisors Inc.'s holdings in Walgreens Boots Alliance were worth $988,000 as of its most recent filing with the SEC.

Citi acted as Rite Aid's exclusive financial adviser. The transaction is reliant to Federal Trade Commission approval, the nod and closing of the pending acquisition deal of Rite Aid by Walgreens Boots, and other customary closing terms. Finally, Barclays PLC set a $79.00 price target on shares of Walgreens Boots Alliance and gave the company a "hold" rating in a research note on Friday, October 21st. Also, EVP Kathleen Wilson-Thompson sold 5,700 shares of Walgreens Boots Alliance stock in a transaction dated Monday, November 28th. The company marked its 52 week high milestone of $8.69 on Dec 20, 2016 while its 52-Week Low was marked on Nov 8, 2016 at $6.33.

The company is trading above its 50-day moving averages of 83.93 and up from 200-day moving averages of 82.00.

Wall Street reacted positively to the news, with Fred's stock price jumping 80 percent, up $9.04 to close at $20.09 Tuesday on the Nasdaq Stock Market.

Rite Aid Corp. had a net margin of 0.41% and a return on equity of 32.41%.

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Bank of America Corporation (NYSE:BAC) reported its last earnings on 10/17/2016. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03.

The deal is being finalized in respond to issues identified by the FTC in its assessment of the proposed deal of Rite Aid by Walgreens Boots, which was reported a year ago.

For the Current Quarter, 28 analyst are projecting the mean EPS to be $0.38/share. The company had Year Ago Sales of 8.15 Billion. Stockholders of record on Thursday, November 17th were issued a dividend of $0.375 per share. If you are viewing this piece of content on another site, it was stolen and reposted in violation of United States and global trademark & copyright legislation. The correct version of this piece of content can be read at https://www.com-unik.info/2016/12/20/eagle-capital-management-llc-acquires-1580-shares-of-walgreens-boots-alliance-inc-wba.html. The stock has received "0" rating after consensus analysis from analysts. Zacks Investment Research upgraded shares of Rite Aid Corp. from a "sell" rating to a "hold" rating in a research report on Friday, September 23rd. Strong Sell rating was given by 0 brokerage firms. And a quick view of analyst notes show that 11 are rating the stock a buy while 7 rate WBA a strong buy. The stock presently has an average rating of "Hold" and an average price target of $9.01. "We believe that this transaction will also create tremendous opportunities for both our new and existing front of store and pharmacy team members", said Michael K. Bloom, CEO, Fred's Pharmacy. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia.

Fred's Pharmacy would operate the bought stores under the Rite Aid brand during transition period.

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