Tortoise Investment Management LLC Sells 177 Shares of Wal-Mart Stores, Inc. (WMT)
Tortoise Investment Management LLC trimmed its stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,339 shares of the retailer’s stock after selling 177 shares during the quarter. Tortoise Investment Management LLC’s holdings in Wal-Mart Stores were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gemmer Asset Management LLC boosted its holdings in Wal-Mart Stores by 0.3% during the second quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock valued at $224,000 after purchasing an additional 10 shares in the last quarter. Wellington Shields & Co. LLC boosted its holdings in Wal-Mart Stores by 0.4% during the first quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock valued at $264,000 after purchasing an additional 15 shares in the last quarter. Sterneck Capital Management LLC boosted its holdings in Wal-Mart Stores by 0.3% during the first quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock valued at $475,000 after purchasing an additional 22 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Wal-Mart Stores by 0.7% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,432 shares of the retailer’s stock valued at $260,000 after purchasing an additional 25 shares in the last quarter. Finally, WealthTrust Arizona LLC boosted its holdings in Wal-Mart Stores by 1.2% during the second quarter. WealthTrust Arizona LLC now owns 2,135 shares of the retailer’s stock valued at $162,000 after purchasing an additional 26 shares in the last quarter. 30.19% of the stock is currently owned by institutional investors.
WMT has been the topic of several recent analyst reports. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $99.00 target price (up from $93.00) on shares of Wal-Mart Stores in a report on Monday, October 16th. BMO Capital Markets set a $91.00 target price on Wal-Mart Stores and gave the stock a “hold” rating in a report on Friday, October 13th. Zacks Investment Research raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Wednesday. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $91.00 target price on shares of Wal-Mart Stores in a report on Thursday, October 12th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $85.00 target price (up from $79.00) on shares of Wal-Mart Stores in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $84.38.
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Wal-Mart Stores, Inc. (NYSE WMT) opened at 87.44 on Friday. Wal-Mart Stores, Inc. has a 52 week low of $65.28 and a 52 week high of $87.45. The firm has a market capitalization of $261.20 billion, a price-to-earnings ratio of 21.01 and a beta of 0.29. The company has a 50-day moving average of $81.17 and a 200-day moving average of $78.10.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data 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 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% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. On average, equities analysts forecast that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current fiscal year.
Wal-Mart Stores declared that its board has authorized a stock repurchase program on Tuesday, October 10th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, Director S Robson Walton sold 646,330 shares of Wal-Mart Stores stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $80.20, for a total transaction of $51,835,666.00. Following the completion of the transaction, the director now directly owns 3,344,956 shares in the company, valued at $268,265,471.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jim C. Walton sold 775,958 shares of Wal-Mart Stores stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $80.24, for a total transaction of $62,262,869.92. Following the transaction, the insider now owns 10,507,224 shares of the company’s stock, valued at $843,099,653.76. The disclosure for this sale can be found here. Insiders have sold 9,924,828 shares of company stock valued at $785,676,492 over the last quarter. Corporate insiders own 51.39% of the company’s stock.
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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