Independence Trust CO Purchases 4,467 Shares of Wal-Mart Stores, Inc. (WMT)
Independence Trust CO boosted its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 14.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 35,693 shares of the retailer’s stock after buying an additional 4,467 shares during the period. Wal-Mart Stores accounts for about 3.3% of Independence Trust CO’s investment portfolio, making the stock its 14th largest position. Independence Trust CO’s holdings in Wal-Mart Stores were worth $2,573,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of WMT. Asset Planning Services Ltd. boosted 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 valued at $109,000 after buying an additional 11 shares during the last quarter. Wellington Shields & Co. LLC boosted its position in shares of 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 last quarter. Alexandria Capital LLC boosted its position in shares of 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 last quarter. Essex Financial Services Inc. boosted its position in shares of Wal-Mart Stores by 0.3% in the first quarter. Essex Financial Services Inc. now owns 10,145 shares of the retailer’s stock worth $731,000 after buying an additional 29 shares during the last quarter. Finally, Courier Capital LLC boosted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 30.00% of the company’s stock.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded up 0.37% during midday trading on Friday, reaching $78.63. The company’s stock had a trading volume of 9,902,189 shares. The company’s 50-day moving average price is $78.55 and its 200 day moving average price is $75.09. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $81.99. The company has a market capitalization of $236.52 billion, a P/E ratio of 18.89 and a beta of 0.29.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The firm had revenue of $123.40 billion during the quarter, compared to analyst estimates of $121.86 billion. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. Wal-Mart Stores’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. On average, equities research analysts forecast that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current year.
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A number of brokerages recently commented on WMT. Pacific Crest cut Wal-Mart Stores to a “hold” rating in a research report on Sunday, April 30th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $74.00 price target on shares of Wal-Mart Stores in a research report on Friday, May 5th. Sanford C. Bernstein restated a “buy” rating on shares of Wal-Mart Stores in a research report on Saturday, May 13th. UBS AG restated a “neutral” rating and issued a $80.00 price target (up previously from $73.00) on shares of Wal-Mart Stores in a research report on Sunday, May 21st. Finally, Citigroup Inc. raised their price target on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Wal-Mart Stores currently has an average rating of “Hold” and an average target price of $80.25.
In related news, major shareholder Alice L. Walton sold 3,221,265 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $79.54, for a total value of $256,219,418.10. Following the completion of the sale, the insider now owns 6,748,580 shares in the company, valued at $536,782,053.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director S Robson Walton sold 1,618,300 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $268,332,370.32. The disclosure for this sale can be found here. Insiders sold 16,228,588 shares of company stock valued at $1,287,662,056 in the last quarter. 51.39% of the stock is owned by company 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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