Credit Suisse Group Reiterates Hold Rating for Wal-Mart Stores, Inc. (WMT)
Wal-Mart Stores, Inc. (NYSE:WMT)‘s stock had its “hold” rating restated by stock analysts at Credit Suisse Group in a note issued to investors on Friday. They presently have a $84.00 price objective on the retailer’s stock. Credit Suisse Group’s price target would indicate a potential upside of 5.91% from the stock’s current price.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Tuesday, April 25th. Sanford C. Bernstein reiterated a “buy” rating on shares of Wal-Mart Stores in a research report on Saturday, May 13th. Vetr upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $79.40 target price on the stock in a research report on Monday, May 15th. Jefferies Group LLC lifted their target price on shares of Wal-Mart Stores from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, May 12th. Finally, Gordon Haskett initiated coverage on shares of Wal-Mart Stores in a research report on Tuesday, May 9th. They issued a “buy” rating and a $90.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $80.13.
Shares of Wal-Mart Stores (NYSE WMT) opened at 79.31 on Friday. The firm has a 50-day moving average of $78.09 and a 200 day moving average of $74.64. Wal-Mart Stores has a 52 week low of $65.28 and a 52 week high of $81.99. The stock has a market cap of $238.56 billion, a PE ratio of 19.06 and a beta of 0.29.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $123.40 billion for the quarter, compared to analyst estimates of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. On average, equities analysts forecast that Wal-Mart Stores will post $4.38 EPS for the current fiscal year.
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In related news, major shareholder Jim C. Walton sold 3,278,735 shares of Wal-Mart Stores stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $79.00, for a total value of $259,020,065.00. Following the completion of the transaction, the insider now owns 10,507,224 shares in the company, valued at $830,070,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Robson Walton sold 1,321,340 shares of Wal-Mart Stores stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $78.61, for a total transaction of $103,870,537.40. The disclosure for this sale can be found here. Insiders sold 23,001,578 shares of company stock valued at $1,815,723,535 in the last 90 days. Company insiders own 51.39% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. WFG Advisors LP boosted its position in shares of Wal-Mart Stores by 9.1% in the second quarter. WFG Advisors LP now owns 14,770 shares of the retailer’s stock worth $1,118,000 after buying an additional 1,235 shares during the period. Toronto Dominion Bank boosted its position in shares of Wal-Mart Stores by 21.7% in the second quarter. Toronto Dominion Bank now owns 528,480 shares of the retailer’s stock worth $39,992,000 after buying an additional 94,161 shares during the period. Cetera Investment Advisers boosted its position in shares of Wal-Mart Stores by 23.5% in the second quarter. Cetera Investment Advisers now owns 21,685 shares of the retailer’s stock worth $1,649,000 after buying an additional 4,130 shares during the period. Advisory Services Network LLC boosted its position in shares of Wal-Mart Stores by 13.1% in the second quarter. Advisory Services Network LLC now owns 18,980 shares of the retailer’s stock worth $1,436,000 after buying an additional 2,198 shares during the period. Finally, Afam Capital Inc. boosted its position in shares of Wal-Mart Stores by 3.6% in the second quarter. Afam Capital Inc. now owns 79,612 shares of the retailer’s stock worth $6,025,000 after buying an additional 2,737 shares during the period. Hedge funds and other institutional investors own 30.00% of the company’s stock.
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 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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