RBC Capital Markets Reaffirms “Underperform” Rating for Wal-Mart Stores Inc. (WMT)
Wal-Mart Stores Inc. (NYSE:WMT)‘s stock had its “underperform” rating reaffirmed by investment analysts at RBC Capital Markets in a research note issued to investors on Saturday. They presently have a $75.00 price target on the retailer’s stock, down from their previous price target of $76.00. RBC Capital Markets’ price objective would indicate a potential upside of 9.17% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Morgan Stanley set a $74.00 target price on shares of Wal-Mart Stores and gave the company a “hold” rating in a report on Friday. Royal Bank Of Canada lowered their target price on shares of Wal-Mart Stores from $76.00 to $75.00 and set an “underperform” rating for the company in a report on Friday. Robert W. Baird set a $80.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Friday. KeyCorp set a $90.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Friday. Finally, Telsey Advisory Group reduced their price target on shares of Wal-Mart Stores from $78.00 to $76.00 and set a “market perform” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $75.56.
Shares of Wal-Mart Stores (NYSE:WMT) opened at 68.70 on Friday. The firm has a 50 day moving average of $71.77 and a 200-day moving average of $70.95. The stock has a market capitalization of $212.51 billion, a P/E ratio of 14.79 and a beta of 0.20. Wal-Mart Stores has a 12 month low of $56.30 and a 12 month high of $75.19.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The firm earned $120.90 billion during the quarter, compared to the consensus estimate of $119.33 billion. During the same period in the previous year, the firm earned $1.08 earnings per share. Wal-Mart Stores’s revenue was up .5% compared to the same quarter last year. Analysts forecast that Wal-Mart Stores will post $4.34 earnings per share for the current year.
In other Wal-Mart Stores news, insider Steven P. Whaley sold 1,100 shares of the company’s 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 completion of the sale, the insider now directly owns 29,464 shares of the company’s stock, valued at approximately $2,105,497.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. 51.55% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Vigilant Capital Management LLC increased its stake 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 during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Wal-Mart Stores during the second quarter worth $100,000. Americafirst Capital Management LLC acquired a new stake in shares of Wal-Mart Stores during the second quarter worth $106,000. Seven Eight Capital LLC acquired a new stake in shares of Wal-Mart Stores during the second quarter worth $111,000. Finally, Piershale Financial Group Inc. increased its stake 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 during the last quarter. 29.55% of the stock is owned by institutional investors.
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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