Is Walgreens Boots Alliance (WBA) A Smart Long-Term Buy?

Miller Howard Investments, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of 3.5% (yield) was recorded by the fund for the third quarter of 2021, compared to the 1.5% for the S&P 500 for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Miller Howard Investments, in its Q3 2021 investor letter, mentioned Walgreens Boots Alliance, Inc. (NASDAQ: WBA) and discussed its stance on the firm. Walgreens Boots Alliance, Inc. is a Deerfield, Illinois-based retail pharmacy chain with a $44.4 billion market capitalization. WBA delivered a 28.96% return since the beginning of the year, while its 12-month returns are up by 30.73%. The stock closed at $51.43 per share on December 29, 2021.

Here is what Miller Howard Investments has to say about Walgreens Boots Alliance, Inc.  in its Q3 2021 investor letter:

“While optimistic about a recovery, we continue to balance our cyclical holdings with dividend-payers in stable, less economically-sensitive industries. We took a position in Walgreens (WBA) based on its low valuation, high dividend yield, and stable business model.”

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Based on our calculations, Walgreens Boots Alliance, Inc. (NASDAQ: WBA) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. WBA was in 37 hedge fund portfolios at the end of the third quarter of 2021, compared to 41 funds in the previous quarter. Walgreens Boots Alliance, Inc. (NASDAQ: WBA) delivered a 5.58% return in the past 3 months.

Earlier this year, we also shared another hedge fund’s views on WBA in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.