Wal-Mart Stores’ (WMT) Overweight Rating Reaffirmed at Barclays PLC
A number of other research firms have also recently commented on WMT. KeyCorp initiated coverage on Wal-Mart Stores in a research report on Thursday, September 29th. They set an overweight rating and a $90.00 target price on the stock. Credit Suisse Group AG initiated coverage on Wal-Mart Stores in a research report on Friday, September 16th. They set an outperform rating and a $80.00 target price on the stock. Zacks Investment Research cut Wal-Mart Stores from a buy rating to a hold rating in a research report on Wednesday, August 24th. Guggenheim assumed coverage on Wal-Mart Stores in a research report on Friday, September 30th. They issued a buy rating and a $82.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $72.00 price target on Wal-Mart Stores and gave the company a neutral rating in a research report on Monday, October 10th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Wal-Mart Stores has an average rating of Hold and a consensus price target of $74.86.
Shares of Wal-Mart Stores (NYSE:WMT) traded down 0.22% during trading on Friday, reaching $71.23. The company’s stock had a trading volume of 8,223,872 shares. The firm has a market capitalization of $220.33 billion, a P/E ratio of 15.33 and a beta of 0.10. Wal-Mart Stores has a 52 week low of $56.36 and a 52 week high of $75.19. The company has a 50 day moving average price of $69.88 and a 200 day moving average price of $71.04.
Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $120.90 billion for the quarter, compared to analysts’ expectations of $119.33 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that Wal-Mart Stores will post $4.34 EPS for the current fiscal year.
In related news, major shareholder Jim C. Walton sold 3,502,398 shares of the stock in a transaction on Monday, August 22nd. The stock was 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 directly owns 10,507,127 shares in the company, valued at approximately $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 3,142,846 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $72.41, for a total value of $227,573,478.86. Following the completion of the sale, the insider now 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 owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Vigilant Capital Management LLC boosted its position in 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 purchased a new position in Wal-Mart Stores during the second quarter worth $100,000. Americafirst Capital Management LLC purchased a new position in Wal-Mart Stores during the second quarter worth $106,000. BKS Advisors LLC purchased a new position in Wal-Mart Stores during the third quarter worth $110,000. Finally, Seven Eight Capital LLC purchased a new position in Wal-Mart Stores during the second quarter worth $111,000. Hedge funds and other institutional investors own 29.52% 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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