SNS Financial Group LLC Reduces Stake in Wal-Mart Stores, Inc. (WMT)
SNS Financial Group LLC reduced its position in Wal-Mart Stores, Inc. (NYSE:WMT) by 34.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,421 shares of the retailer’s stock after selling 1,836 shares during the period. SNS Financial Group LLC’s holdings in Wal-Mart Stores were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Winfield Associates Inc. boosted its stake in shares of Wal-Mart Stores by 5.8% in the 2nd quarter. Winfield Associates Inc. now owns 1,373 shares of the retailer’s stock worth $104,000 after buying an additional 75 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in shares of Wal-Mart Stores by 89.2% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock worth $106,000 after buying an additional 696 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of Wal-Mart Stores by 3.3% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,429 shares of the retailer’s stock worth $108,000 after buying an additional 45 shares during the last quarter. Hudock Capital Group LLC boosted its stake in shares of Wal-Mart Stores by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock worth $139,000 after buying an additional 7 shares during the last quarter. Finally, Kistler Tiffany Companies LLC raised its holdings in Wal-Mart Stores by 124.2% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,910 shares of the retailer’s stock worth $145,000 after purchasing an additional 1,058 shares during the period. Hedge funds and other institutional investors own 30.12% of the company’s stock.
WMT has been the topic of a number of recent research reports. CIBC decreased their target price on Wal-Mart Stores from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday. Morningstar, Inc. reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a report on Wednesday, August 2nd. BidaskClub raised Wal-Mart Stores from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Citigroup Inc. raised their target price on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Finally, Zacks Investment Research raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.96.
Wal-Mart Stores, Inc. (WMT) opened at $89.83 on Thursday. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $91.98. The stock has a market capitalization of $270,430.00, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 3.39 and a beta of 0.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.18 and a current ratio of 0.78.
Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $123.40 billion during the quarter, compared to analyst estimates of $121.86 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. equities research analysts forecast that Wal-Mart Stores, Inc. will post 4.37 EPS for the current fiscal year.
Wal-Mart Stores declared that its Board of Directors 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 reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 474,042 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 can be accessed through this link. Also, major shareholder Alice L. Walton sold 621,500 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $78.28, for a total value of $48,651,020.00. Following the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $528,278,842.40. The disclosure for this sale can be found here. Insiders have sold 9,924,828 shares of company stock valued at $785,676,492 in the last 90 days. Company insiders own 51.39% of the company’s stock.
Wal-Mart Stores 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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