Wal-Mart Stores Inc. (WMT) Now Covered by Analysts at KeyCorp
KeyCorp started coverage on shares of Wal-Mart Stores Inc. (NYSE:WMT) in a research note released on Thursday morning. The brokerage issued an overweight rating and a $90.00 target price on the retailer’s stock.
A number of other research analysts have also recently weighed in on the stock. Buckingham Research set a $70.00 target price on shares of Wal-Mart Stores and gave the company a hold rating in a research note on Wednesday. Barclays PLC upgraded shares of Wal-Mart Stores from an equal weight rating to an overweight rating and boosted their target price for the company from $70.00 to $87.00 in a research note on Thursday, September 22nd. Vetr upgraded shares of Wal-Mart Stores from a hold rating to a buy rating and set a $75.98 target price on the stock in a research note on Monday, September 19th. Credit Suisse Group AG began coverage on shares of Wal-Mart Stores in a research note on Friday, September 16th. They issued an outperform rating and a $80.00 target price on the stock. Finally, Jefferies Group set a $86.00 target price on shares of Wal-Mart Stores and gave the company a buy rating in a research note on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $75.30.
Wal-Mart Stores (NYSE:WMT) traded up 2.04% on Thursday, reaching $72.17. 1,506,856 shares of the company’s stock traded hands. The company’s 50 day moving average is $72.21 and its 200-day moving average is $70.80. Wal-Mart Stores has a 52-week low of $56.30 and a 52-week high of $75.19. The stock has a market cap of $223.24 billion, a price-to-earnings ratio of 15.54 and a beta of 0.22.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $120.90 billion for the quarter, compared to analysts’ expectations of $119.33 billion. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. Equities analysts expect that Wal-Mart Stores will post $4.34 EPS for the current year.
In related news, major shareholder Alice L. Walton sold 3,504,756 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $481,646,154.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 3,142,846 shares of the company’s 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 completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $488,664,677.80. 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 added to or reduced their stakes in the company. Vigilant Capital Management LLC increased its position in shares of Wal-Mart Stores by 1,270.0% in the second quarter. Vigilant Capital Management LLC now owns 1,370 shares of the retailer’s stock worth $100,000 after buying an additional 1,270 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Wal-Mart Stores during the second quarter worth approximately $100,000. Americafirst Capital Management LLC purchased a new position in shares of Wal-Mart Stores during the second quarter worth approximately $106,000. Seven Eight Capital LLC purchased a new position in shares of Wal-Mart Stores during the second quarter worth approximately $111,000. Finally, Piershale Financial Group Inc. increased its position in shares of Wal-Mart Stores by 0.6% in the second quarter. Piershale Financial Group Inc. now owns 1,607 shares of the retailer’s stock worth $117,000 after buying an additional 10 shares in the last quarter. 29.55% of the stock is owned by institutional investors.
Wal-Mart Stores Company Profile
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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