Wal-Mart Stores Inc. (NYSE:WMT) had its target price trimmed by Telsey Advisory Group from $78.00 to $76.00 in a report published on Friday. The brokerage currently has a market perform rating on the retailer’s stock.
Other equities analysts also recently issued research reports about the company. Jefferies Group set a $85.00 price objective on Wal-Mart Stores and gave the stock a buy rating in a report on Tuesday, August 9th. Nomura restated a buy rating and issued a $81.00 price objective on shares of Wal-Mart Stores in a report on Thursday, June 23rd. Vetr upgraded Wal-Mart Stores from a hold rating to a buy rating and set a $73.65 price target on the stock in a report on Monday, June 13th. Finally, Guggenheim began coverage on Wal-Mart Stores in a report on Friday, September 30th. They set a buy rating and a $82.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $75.46.
Wal-Mart Stores (NYSE:WMT) traded down 0.98% during mid-day trading on Friday, reaching $68.03. 3,554,846 shares of the company traded hands. Wal-Mart Stores has a 52-week low of $56.30 and a 52-week high of $75.19. The stock has a 50 day moving average price of $71.77 and a 200-day moving average price of $70.95. The company has a market capitalization of $210.43 billion, a P/E ratio of 14.65 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 EPS 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 company posted $1.08 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. Analysts expect that Wal-Mart Stores will post $4.34 EPS for the current fiscal year.
In other news, major shareholder Alice L. Walton sold 3,142,846 shares of Wal-Mart Stores stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $72.41, for a total transaction of $227,573,478.86. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at approximately $488,664,677.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven P. Whaley sold 1,100 shares of Wal-Mart Stores stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $71.46, for a total value of $78,606.00. Following the transaction, the insider now owns 29,464 shares in the company, valued at approximately $2,105,497.44. The disclosure for this sale can be found here. Insiders own 51.55% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WMT. Envestnet Asset Management Inc. boosted its position in Wal-Mart Stores by 4.2% in the first quarter. Envestnet Asset Management Inc. now owns 608,983 shares of the retailer’s stock valued at $41,709,000 after buying an additional 24,292 shares during the period. Acadian Asset Management LLC boosted its position in Wal-Mart Stores by 12.9% in the second quarter. Acadian Asset Management LLC now owns 3,788,062 shares of the retailer’s stock valued at $276,603,000 after buying an additional 431,780 shares during the period. British Columbia Investment Management Corp boosted its position in Wal-Mart Stores by 2.1% in the second quarter. British Columbia Investment Management Corp now owns 621,749 shares of the retailer’s stock valued at $45,400,000 after buying an additional 13,017 shares during the period. Panagora Asset Management Inc. boosted its position in Wal-Mart Stores by 33.7% in the first quarter. Panagora Asset Management Inc. now owns 1,692,255 shares of the retailer’s stock valued at $115,903,000 after buying an additional 426,436 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Wal-Mart Stores by 3.0% in the second quarter. Retirement Systems of Alabama now owns 1,582,960 shares of the retailer’s stock valued at $115,588,000 after buying an additional 45,683 shares during the period. Institutional investors and hedge funds own 29.55% of the company’s stock.
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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