Walgreens Boots Alliance Inc (WBA US, -N, 19-Jan-24)
Nancy Schlicting (Director since 2006) sold 15,209 shares on January 16th at $23.05, reducing her stock holdings to zero. In addition, she does own 71,251 DSUs so still has meaningful ownership. Her last sale was of a similar size in November 2022 at $40, which proved timely and was the reason for our downgrade at the time.
This sale, while similar in size, is at a lower price point but also somewhat concerning in that the company just named a new CEO, Timothy Wentworth, just three months ago in Oct. 2023. He did make a recent purchase, spending $242,000, which slightly offsets this sale from Schlicting. Nevertheless, Schlicting’s sale, into weakness and soon after a new CEO takes over, is not encouraging. Schlicting was the former CEO of Henry Ford Health Systems from 2003-2016.
We are ranking the stock -N.
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