Walgreen’s Stock
Founded by Charles R. Walgreen, Walgreen’s drug store is one of the most successful businesses in the United States. They have definitely evolved for the better; from small beginnings in a 50-foot by 20-foot pharmacy in Barrett's Hotel at Cottage Grove and Bowen Avenue located on the south side of Chicago. 25 years later, Walgreen’s celebrated the grand opening of their 100th location. Today the Walgreen’s enterprise (NYSE S&P 500) has over 4400 stores in 44 states and Puerto Rico. If all goes according to plan, the Walgreen’s enterprise should be opening their 6000th store by the year 2010. As part of their commitment to keep up with the pace of technology in this day and age, Walgreen’s drug store chains use satellite technology at every location to connect with the other stores in the chain, making Walgreen’s the largest user of satellite technology, second only to the United States government. They are the #1 highest grossing pharmacy chain in the nation, even though business rivals CVS and Rite Aid drug stores have more actual chain locations in the United States. By 1975, Walgreen’s had generated over $1 billion dollars in revenue. Needless to say, Walgreen’s stock is not a stupid investment. Currently priced at about $47 a share (as of Aug. 1) the Walgreen’s chain of stores (under the ticker symbol WAG) has had 30 consecutive years of record sales, and the company was ranked 45th overall on the Forbes list of the 500 largest companies in America. Dividends have been paid every quarter since 1933, on the 12th of March, June, September, and December. Since FY 2000, Walgreen’s stock has increased 13%, which pales in comparison to the 22% growth the company experienced in 1999. They experienced between 14% and 22% growth increases in price since FY 2000. In 2001 Walgreen’s celebrated its centennial in and rang