Insider Selling: Wal-Mart Stores, Inc. (WMT) Major Shareholder Sells $37,942,321.68 in Stock
Wal-Mart Stores, Inc. (NYSE:WMT) major shareholder Alice L. Walton sold 474,042 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $80.04, for a total transaction of $37,942,321.68. Following the transaction, the insider now directly owns 10,048,580 shares in the company, valued at $804,288,343.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Wal-Mart Stores, Inc. (NYSE WMT) opened at 78.63 on Friday. The company has a 50-day moving average price of $78.55 and a 200-day moving average price of $75.09. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $81.99. The firm has a market cap of $236.52 billion, a P/E ratio of 18.89 and a beta of 0.29.
Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The company had revenue of $123.40 billion for the quarter, compared to analyst estimates of $121.86 billion. During the same quarter last year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of WMT. Lord Abbett & CO. LLC raised its position in Wal-Mart Stores by 25.8% in the second quarter. Lord Abbett & CO. LLC now owns 1,981,572 shares of the retailer’s stock worth $149,966,000 after buying an additional 406,922 shares in the last quarter. USA Financial Portformulas Corp bought a new position in Wal-Mart Stores during the second quarter worth $2,819,000. Paradigm Financial Advisors LLC bought a new position in Wal-Mart Stores during the second quarter worth $201,000. Sentry Investment Management LLC raised its position in Wal-Mart Stores by 1.0% in the second quarter. Sentry Investment Management LLC now owns 120,087 shares of the retailer’s stock worth $9,088,000 after buying an additional 1,220 shares in the last quarter. Finally, WFG Advisors LP raised its position in 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 in the last quarter. Institutional investors own 30.00% of the company’s stock.
A number of analysts recently issued reports on WMT shares. Zacks Investment Research lowered shares of Wal-Mart Stores from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Robert W. Baird set a $85.00 price target on shares of Wal-Mart Stores and gave the stock a “buy” rating in a research note on Monday, August 21st. UBS AG restated a “neutral” rating and issued a $84.00 price target on shares of Wal-Mart Stores in a research note on Sunday, August 20th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $90.00 price target on shares of Wal-Mart Stores in a research note on Friday, August 18th. Finally, Credit Suisse Group restated a “hold” rating and issued a $84.00 price target on shares of Wal-Mart Stores in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $80.25.
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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