I think the split rationale was a Walgreen family way of thinking. I believe those days are long behind us. WAG stock will continue to rise well into the 60's, possibly the 70's, but you won't see another split.
A stock split is neutral position to a company. If tradition is any considertion they will split when the price solidifies in the fifties. Wags already has the permission and stock to have a split. Which was suppose to occur on their hundred anniversary.
I know the guy running the financials now and he does not like splits. With the new partership with Alliance, and Amerisource, this stock will make a steady climb to the 80's over the next couple of years, but it will not split.