Abbrea Capital LLC Has $383,000 Position in Wal-Mart Stores, Inc. (WMT)
Abbrea Capital LLC held its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,066 shares of the retailer’s stock at the end of the 2nd quarter. Abbrea Capital LLC’s holdings in Wal-Mart Stores were worth $383,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WMT. Canada Pension Plan Investment Board lifted its stake in shares of Wal-Mart Stores by 161.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,297,419 shares of the retailer’s stock valued at $237,678,000 after acquiring an additional 2,035,800 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Wal-Mart Stores in the 1st quarter valued at $111,777,000. Swiss National Bank lifted its stake in shares of Wal-Mart Stores by 24.3% in the 1st quarter. Swiss National Bank now owns 6,072,429 shares of the retailer’s stock valued at $437,701,000 after acquiring an additional 1,188,400 shares during the last quarter. State Street Corp lifted its stake in shares of Wal-Mart Stores by 1.2% in the 1st quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock valued at $5,303,013,000 after acquiring an additional 854,010 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Wal-Mart Stores by 10.3% in the 2nd quarter. Fisher Asset Management LLC now owns 5,853,675 shares of the retailer’s stock valued at $443,006,000 after acquiring an additional 544,692 shares during the last quarter. Hedge funds and other institutional investors own 30.19% of the company’s stock.
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In other Wal-Mart Stores news, insider Jacqueline P. Canney sold 1,586 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $79.00, for a total value of $125,294.00. Following the sale, the insider now owns 21,125 shares in the company, valued at $1,668,875. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 474,042 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 10,048,580 shares in the company, valued at approximately $804,288,343.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,924,828 shares of company stock worth $785,676,492. Corporate insiders own 51.39% of the company’s stock.
WMT has been the subject of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $75.54 price target (down from $88.00) on shares of Wal-Mart Stores in a research note on Thursday, June 22nd. Vetr cut Wal-Mart Stores from a “buy” rating to a “hold” rating and set a $77.38 price target for the company. in a research note on Monday, June 26th. Wells Fargo & Company reiterated a “market perform” rating on shares of Wal-Mart Stores in a research note on Tuesday, June 27th. BidaskClub cut Wal-Mart Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $84.38.
Wal-Mart Stores, Inc. (NYSE:WMT) opened at 86.40 on Friday. The firm’s 50-day moving average price is $80.90 and its 200-day moving average price is $77.99. The firm has a market cap of $258.09 billion, a P/E ratio of 20.76 and a beta of 0.29. Wal-Mart Stores, Inc. has a 1-year low of $65.28 and a 1-year high of $86.95.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. The business had revenue of $123.40 billion for the quarter, compared to analysts’ expectations of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Equities research analysts anticipate that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current fiscal year.
Wal-Mart Stores announced that its Board of Directors has authorized a share buyback program on Tuesday, October 10th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the retailer to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
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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