Renaissance Group LLC Decreases Stake in Wal-Mart Stores, Inc. (NYSE:WMT)
Renaissance Group LLC reduced its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,393 shares of the retailer’s stock after selling 85 shares during the period. Renaissance Group LLC’s holdings in Wal-Mart Stores were worth $2,335,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Asset Planning Services Ltd. raised its position in Wal-Mart Stores by 0.7% in the first quarter. Asset Planning Services Ltd. now owns 1,511 shares of the retailer’s stock worth $109,000 after buying an additional 11 shares during the period. Wellington Shields & Co. LLC raised its position in Wal-Mart Stores by 0.4% in the first quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock worth $264,000 after buying an additional 15 shares during the period. Alexandria Capital LLC raised its position in Wal-Mart Stores by 0.9% in the first quarter. Alexandria Capital LLC now owns 2,513 shares of the retailer’s stock worth $181,000 after buying an additional 22 shares during the period. Cohen Lawrence B raised its position in Wal-Mart Stores by 0.4% in the first quarter. Cohen Lawrence B now owns 6,050 shares of the retailer’s stock worth $436,000 after buying an additional 25 shares during the period. Finally, Courier Capital LLC raised its position in Wal-Mart Stores by 0.8% in the first quarter. Courier Capital LLC now owns 5,314 shares of the retailer’s stock worth $383,000 after buying an additional 41 shares during the period. 30.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Wal-Mart Stores, Inc. (NYSE WMT) opened at 75.87 on Thursday. Wal-Mart Stores, Inc. has a one year low of $65.28 and a one year high of $80.47. The company has a market capitalization of $228.71 billion, a PE ratio of 17.23 and a beta of 0.28. The stock has a 50 day moving average price of $76.76 and a 200 day moving average price of $72.85.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.04. The company had revenue of $116.53 billion during the quarter, compared to the consensus estimate of $117.01 billion. Wal-Mart Stores had a net margin of 2.79% and a return on equity of 16.96%. Wal-Mart Stores’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, equities research analysts predict that Wal-Mart Stores, Inc. will post $4.36 earnings per share for the current year.
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WMT has been the subject of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $86.00 price objective on shares of Wal-Mart Stores in a research report on Friday, April 7th. Vetr raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $75.31 price objective for the company in a research report on Monday, March 27th. Zacks Investment Research raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Tuesday, April 25th. Gordon Haskett initiated coverage on Wal-Mart Stores in a research report on Tuesday, May 9th. They set a “buy” rating and a $90.00 price objective for the company. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of Wal-Mart Stores in a research report on Saturday, May 13th. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the stock. Wal-Mart Stores currently has an average rating of “Hold” and an average price target of $78.11.
In other Wal-Mart Stores news, Director S Robson Walton sold 1,618,300 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $80.22, for a total value of $129,820,026.00. Following the completion of the sale, the director now owns 3,344,956 shares in the company, valued at approximately $268,332,370.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jim C. Walton sold 3,278,735 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $79.00, for a total transaction of $259,020,065.00. Following the completion of the sale, the insider now owns 10,507,224 shares of the company’s stock, valued at approximately $830,070,696. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,006,720 shares of company stock valued at $1,816,131,604. 51.39% of the stock is owned by 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 operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.
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