Robert W. Baird Reaffirms “Outperform” Rating for Wal-Mart Stores, Inc. (WMT)
Robert W. Baird reaffirmed their outperform rating on shares of Wal-Mart Stores, Inc. (NYSE:WMT) in a report issued on Thursday. Robert W. Baird currently has a $95.00 price target on the retailer’s stock, up from their prior price target of $90.00.
WMT has been the subject of a number of other reports. KeyCorp restated a buy rating and set a $90.00 price objective on shares of Wal-Mart Stores in a research note on Tuesday, September 19th. Zacks Investment Research lowered shares of Wal-Mart Stores from a buy rating to a hold rating in a research note on Tuesday, October 17th. Jefferies Group LLC set a $88.00 price objective on shares of Wal-Mart Stores and gave the company a buy rating in a research note on Monday, July 17th. J P Morgan Chase & Co restated a neutral rating and set a $84.00 price objective (up from $80.00) on shares of Wal-Mart Stores in a research note on Friday, October 6th. Finally, Wells Fargo & Company restated a hold rating on shares of Wal-Mart Stores in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $86.65.
Shares of Wal-Mart Stores (NYSE:WMT) traded up $0.62 during trading on Thursday, hitting $90.92. 7,647,500 shares of the company traded hands, compared to its average volume of 6,883,275. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.18 and a current ratio of 0.78. The company has a market cap of $271,596.41, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 3.39 and a beta of 0.34. Wal-Mart Stores has a 52 week low of $65.28 and a 52 week high of $91.69.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $123.40 billion during 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%. Wal-Mart Stores’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. equities analysts anticipate that Wal-Mart Stores will post 4.37 EPS for the current fiscal year.
Wal-Mart Stores announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 10th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, major shareholder Alice L. Walton sold 474,042 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $80.04, for a total value of $37,942,321.68. Following the sale, the insider now owns 10,048,580 shares in the company, valued at $804,288,343.20. 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 129,628 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $80.44, for a total transaction of $10,427,276.32. Following the completion of the sale, the director now owns 3,344,956 shares in the company, valued at approximately $269,068,260.64. The disclosure for this sale can be found here. Insiders sold 9,924,828 shares of company stock worth $785,676,492 in the last 90 days. 51.39% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Winfield Associates Inc. increased its position in Wal-Mart Stores by 5.8% during the second quarter. Winfield Associates Inc. now owns 1,373 shares of the retailer’s stock valued at $104,000 after acquiring an additional 75 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Wal-Mart Stores by 3.3% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,429 shares of the retailer’s stock valued at $108,000 after acquiring an additional 45 shares during the last quarter. TrimTabs Asset Management LLC increased its position in Wal-Mart Stores by 89.2% during the first quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock valued at $106,000 after acquiring an additional 696 shares during the last quarter. Thompson Davis & CO. Inc. increased its position in Wal-Mart Stores by 456.9% during the second quarter. Thompson Davis & CO. Inc. now owns 1,526 shares of the retailer’s stock valued at $115,000 after acquiring an additional 1,252 shares during the last quarter. Finally, Hudock Capital Group LLC increased its position in Wal-Mart Stores by 0.4% during the second quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock valued at $139,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 30.15% 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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