Benedict Financial Advisors Inc. decreased its stake in shares of Wal-Mart Stores Inc. (NYSE:WMT) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 52,052 shares of the retailer’s stock after selling 1,051 shares during the period. Wal-Mart Stores makes up approximately 2.2% of Benedict Financial Advisors Inc.’s holdings, making the stock its 13th largest position. Benedict Financial Advisors Inc.’s holdings in Wal-Mart Stores were worth $3,790,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. ING Groep NV acquired a new stake in shares of Wal-Mart Stores during the second quarter valued at approximately $5,609,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Wal-Mart Stores during the second quarter valued at approximately $100,000. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Wal-Mart Stores by 4.3% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 57,611 shares of the retailer’s stock valued at $4,207,000 after buying an additional 2,354 shares during the last quarter. VNBTrust National Association raised its stake in shares of Wal-Mart Stores by 2.2% in the second quarter. VNBTrust National Association now owns 5,497 shares of the retailer’s stock valued at $401,000 after buying an additional 116 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Wal-Mart Stores by 14.1% in the second quarter. Alps Advisors Inc. now owns 371,192 shares of the retailer’s stock valued at $27,104,000 after buying an additional 46,001 shares during the last quarter. Institutional investors own 29.55% of the company’s stock.
Wal-Mart Stores Inc. (NYSE:WMT) traded up 0.32% on Friday, hitting $68.45. The stock had a trading volume of 6,416,018 shares. Wal-Mart Stores Inc. has a 52-week low of $56.30 and a 52-week high of $75.19. The company’s 50 day moving average price is $71.16 and its 200 day moving average price is $70.93. The firm has a market cap of $211.73 billion, a price-to-earnings ratio of 14.74 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, topping the consensus estimate of $1.02 by $0.05. The firm earned $120.90 billion during the quarter, compared to analyst estimates of $119.33 billion. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. Wal-Mart Stores’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. Analysts expect that Wal-Mart Stores Inc. will post $4.34 EPS for the current year.
A number of research firms recently weighed in on WMT. BMO Capital Markets dropped their price target on Wal-Mart Stores from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Tuesday. Goldman Sachs Group Inc. set a $72.00 price target on Wal-Mart Stores and gave the stock a “neutral” rating in a research note on Tuesday. Barclays PLC set a $82.00 price target on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. set a $72.00 price target on Wal-Mart Stores and gave the stock a “neutral” rating in a research note on Monday. Finally, RBC Capital Markets reaffirmed an “underperform” rating and set a $75.00 price target (down from $76.00) on shares of Wal-Mart Stores in a research note on Saturday, October 8th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.93.
In related news, major shareholder Alice L. Walton sold 3,504,756 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $71.37, for a total value of $250,134,435.72. Following the completion of the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $481,646,154.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven P. Whaley sold 1,100 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $71.46, for a total transaction of $78,606.00. Following the completion of the transaction, the insider now directly owns 29,464 shares of the company’s stock, valued at approximately $2,105,497.44. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by corporate insiders.
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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