Wal-Mart Stores, Inc. (WMT) Price Target Lowered to $96.00 at Telsey Advisory Group
Wal-Mart Stores, Inc. (NYSE:WMT) had its price objective cut by Telsey Advisory Group from $108.00 to $96.00 in a research note issued to investors on Friday. They currently have an outperform rating on the retailer’s stock.
A number of other equities analysts also recently issued reports on the company. Vetr downgraded Wal-Mart Stores from a hold rating to a sell rating and set a $91.97 price target for the company. in a research note on Friday. Deutsche Bank AG set a $88.00 price target on Wal-Mart Stores and gave the company a hold rating in a research note on Thursday. Robert W. Baird reiterated an outperform rating and set a $100.00 price target (up previously from $95.00) on shares of Wal-Mart Stores in a research note on Thursday. CIBC cut their price target on Wal-Mart Stores from $100.00 to $90.00 and set an outperform rating for the company in a research note on Wednesday. Finally, Oppenheimer Holdings, Inc. lifted their price target on Wal-Mart Stores from $90.00 to $100.00 and gave the company an outperform rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Wal-Mart Stores has a consensus rating of Hold and an average target price of $89.87.
Shares of Wal-Mart Stores (NYSE:WMT) traded down $2.15 during trading on Friday, reaching $97.47. The company had a trading volume of 23,570,194 shares, compared to its average volume of 8,895,206. Wal-Mart Stores has a twelve month low of $65.28 and a twelve month high of $100.13. The company has a market cap of $297,590.00, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 3.40 and a beta of 0.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.18.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Wal-Mart Stores had a return on equity of 9.20% and a net margin of 1.55%. The business had revenue of $122.14 billion during the quarter, compared to analyst estimates of $120.23 billion. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. sell-side analysts predict that Wal-Mart Stores will post 4.38 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 repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the retailer to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In related news, SVP David Chojnowski sold 684 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $99.29, for a total value of $67,914.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gregory S. Foran sold 52,793 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $96.86, for a total value of $5,113,529.98. Following the completion of the transaction, the insider now directly owns 121,457 shares in the company, valued at approximately $11,764,325.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,979,505 shares of company stock worth $790,977,085. Insiders own 51.39% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hudock Capital Group LLC increased its stake in Wal-Mart Stores by 0.4% in 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. Gemmer Asset Management LLC increased its stake in Wal-Mart Stores by 0.3% in the second quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock valued at $224,000 after acquiring an additional 10 shares during the last quarter. Sterneck Capital Management LLC increased its stake in Wal-Mart Stores by 0.3% in the first quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock valued at $475,000 after acquiring an additional 22 shares during the last quarter. LLBH Private Wealth Management LLC increased its stake in Wal-Mart Stores by 0.3% in the second quarter. LLBH Private Wealth Management LLC now owns 7,843 shares of the retailer’s stock valued at $594,000 after acquiring an additional 24 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. boosted its position in Wal-Mart Stores by 0.3% during the second quarter. Edgemoor Investment Advisors Inc. now owns 7,654 shares of the retailer’s stock valued at $579,000 after buying an additional 24 shares during the period. 30.12% of the stock is currently owned by institutional investors and hedge funds.
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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