WBA - Walgreens: Yielding Over 8% Following The Earnings Drop

2024-07-02 17:39:29 ET

Summary

• Walgreens stock plummeted 56% in 2024, and is now trading below $12 a share.
• Quarterly dividend now yields 8%+, providing a potential opportunity for robust passive income.
• Challenges in the operating environment require new approach, potential store closures and divestitures in the future.

And the hits just keep on comin’.

Walgreens ( WBA ) opened the year trading for $26 and change. But before earnings debuted last week, the stock was trading for a bit below $16 a share. Fast-forward a couple of days, and WBA now trades for less than $12, and has now plummeted 56% in 2024.

If there is a bright side to this story, it is that the quarterly dividend now yields 8%-plus. Veteran investors may wonder if that represents a sucker yield or an opportunity to lock in a hefty source of passive income pending a possible turnaround....

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