Jefferies Group LLC Reiterates $105.00 Price Target for Wal-Mart Stores, Inc. (WMT)
Wal-Mart Stores, Inc. (NYSE:WMT) received a $105.00 price objective from investment analysts at Jefferies Group LLC in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the retailer’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 15.40% from the company’s previous close. Jefferies Group also issued estimates for Wal-Mart Stores’ Q1 2019 earnings at $1.06 EPS, Q2 2019 earnings at $1.19 EPS, Q3 2019 earnings at $1.06 EPS, Q4 2019 earnings at $1.50 EPS and FY2019 earnings at $4.80 EPS.
A number of other research analysts have also recently commented on the company. KeyCorp set a $100.00 target price on Wal-Mart Stores and gave the company a “buy” rating in a research note on Monday. Barclays PLC set a $100.00 target price on Wal-Mart Stores and gave the company a “buy” rating in a research note on Monday. UBS AG set a $91.00 target price on Wal-Mart Stores and gave the company a “neutral” rating in a research note on Friday. Royal Bank Of Canada set a $83.00 target price on Wal-Mart Stores and gave the company a “sell” rating in a research note on Friday. Finally, Robert W. Baird reissued an “outperform” rating and issued a $95.00 target price (up previously from $90.00) on shares of Wal-Mart Stores in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Wal-Mart Stores has an average rating of “Hold” and a consensus target price of $87.54.
Shares of Wal-Mart Stores (NYSE WMT) traded up $0.07 during mid-day trading on Tuesday, hitting $90.99. The company had a trading volume of 8,491,500 shares, compared to its average volume of 8,692,613. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. Wal-Mart Stores has a one year low of $65.28 and a one year high of $91.98. The stock has a market capitalization of $271,000.00, a P/E ratio of 20.85, a PEG ratio of 3.39 and a beta of 0.34.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, beating 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 return on equity of 16.87% and a net margin of 2.60%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. sell-side analysts predict that Wal-Mart Stores will post 4.37 earnings per share for the current fiscal year.
Wal-Mart Stores declared that its board has initiated a stock buyback plan on Tuesday, October 10th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the retailer to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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In other news, major shareholder Alice L. Walton sold 474,042 shares of Wal-Mart Stores stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $80.04, for a total transaction of $37,942,321.68. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director S Robson Walton sold 129,628 shares of Wal-Mart Stores stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $80.44, for a total transaction of $10,427,276.32. Following the transaction, the director now owns 3,344,956 shares of the company’s stock, valued at $269,068,260.64. 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. Company insiders own 51.39% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WMT. FMR LLC lifted its holdings in shares of Wal-Mart Stores by 45.3% during the second quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after purchasing an additional 5,608,785 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Wal-Mart Stores by 42.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,745,493 shares of the retailer’s stock worth $434,819,000 after acquiring an additional 1,716,422 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Wal-Mart Stores by 52.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,883,390 shares of the retailer’s stock worth $369,565,000 after acquiring an additional 1,689,364 shares during the last quarter. Karp Capital Management Corp purchased a new position in Wal-Mart Stores in the 1st quarter worth approximately $111,777,000. Finally, Neuberger Berman Group LLC raised its holdings in Wal-Mart Stores by 100.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,646,589 shares of the retailer’s stock worth $200,294,000 after acquiring an additional 1,324,722 shares during the last quarter. Hedge funds and other institutional investors own 30.12% 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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