Buckingham Research set a $70.00 price objective on Wal-Mart Stores Inc. (NYSE:WMT) in a research note issued to investors on Wednesday morning. The brokerage currently has a a hold rating on the retailer’s stock.
WMT has been the topic of a number of other research reports. Deutsche Bank AG reiterated a hold rating and set a $77.00 target price (up previously from $68.00) on shares of Wal-Mart Stores in a report on Tuesday, August 2nd. Vetr downgraded Wal-Mart Stores from a buy rating to a hold rating and set a $76.24 target price on the stock. in a report on Monday, August 8th. Nomura set a $81.00 price target on Wal-Mart Stores and gave the stock a buy rating in a research note on Friday, August 19th. Jefferies Group upgraded Wal-Mart Stores from a hold rating to a buy rating and upped their price target for the stock from $60.00 to $82.00 in a research note on Monday, June 6th. Finally, Northcoast Research downgraded Wal-Mart Stores from a buy rating to a neutral rating in a research note on Tuesday, July 12th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $75.53.
Shares of Wal-Mart Stores (NYSE:WMT) opened at 72.01 on Wednesday. The firm has a 50-day moving average price of $72.11 and a 200-day moving average price of $70.91. The stock has a market capitalization of $222.75 billion, a P/E ratio of 15.50 and a beta of 0.20. Wal-Mart Stores has a 52-week low of $56.30 and a 52-week high of $75.19.
Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. The firm had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. During the same quarter in the prior year, the business earned $1.08 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that Wal-Mart Stores will post $4.35 EPS for the current year.
In other Wal-Mart Stores news, major shareholder Jim C. Walton sold 3,502,398 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $73.02, for a total value of $255,745,101.96. Following the completion of the sale, the insider now owns 10,507,127 shares of the company’s stock, valued at $767,230,413.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 2,100,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $71.44, for a total transaction of $150,024,000.00. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $482,118,555.20. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in WMT. State Street Corp increased its stake in shares of Wal-Mart Stores by 2.5% in the first quarter. State Street Corp now owns 71,591,885 shares of the retailer’s stock valued at $4,903,327,000 after buying an additional 1,726,468 shares during the last quarter. BlackRock Fund Advisors increased its stake in Wal-Mart Stores by 1.6% in the second quarter. BlackRock Fund Advisors now owns 19,309,257 shares of the retailer’s stock valued at $1,409,962,000 after buying an additional 297,217 shares in the last quarter. Geode Capital Management LLC increased its stake in Wal-Mart Stores by 2.1% in the first quarter. Geode Capital Management LLC now owns 13,570,247 shares of the retailer’s stock valued at $927,651,000 after buying an additional 284,071 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Wal-Mart Stores by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 8,319,158 shares of the retailer’s stock valued at $607,461,000 after buying an additional 389,425 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Wal-Mart Stores by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 8,146,797 shares of the retailer’s stock valued at $594,878,000 after buying an additional 629,728 shares in the last quarter. 29.55% of the stock is owned by institutional investors and hedge funds.
About Wal-Mart Stores
Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club.
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