Quantum Capital Management Reduces Position in Wal-Mart Stores, Inc. (WMT)
Quantum Capital Management lowered its holdings in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,735 shares of the retailer’s stock after selling 135 shares during the period. Quantum Capital Management’s holdings in Wal-Mart Stores were worth $1,342,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Security National Bank of SO Dak raised its holdings in Wal-Mart Stores by 2.6% in the first quarter. Security National Bank of SO Dak now owns 15,305 shares of the retailer’s stock worth $1,103,000 after buying an additional 386 shares during the last quarter. Cutter & CO Brokerage Inc. raised its holdings in Wal-Mart Stores by 2.5% in the second quarter. Cutter & CO Brokerage Inc. now owns 8,067 shares of the retailer’s stock worth $611,000 after buying an additional 200 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in Wal-Mart Stores by 23.1% in the second quarter. State of Wisconsin Investment Board now owns 2,095,792 shares of the retailer’s stock worth $158,610,000 after buying an additional 393,180 shares during the last quarter. Berkshire Asset Management LLC PA raised its holdings in Wal-Mart Stores by 1.5% in the second quarter. Berkshire Asset Management LLC PA now owns 138,747 shares of the retailer’s stock worth $10,500,000 after buying an additional 1,994 shares during the last quarter. Finally, R. G. Niederhoffer Capital Management Inc. purchased a new position in Wal-Mart Stores in the second quarter worth about $363,000. 30.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded down $0.34 during midday trading on Tuesday, reaching $97.01. 8,956,500 shares of the company traded hands, compared to its average volume of 8,949,993. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.81 and a quick ratio of 0.19. The company has a market capitalization of $289,840.00, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 3.59 and a beta of 0.37. Wal-Mart Stores, Inc. has a 12 month low of $65.28 and a 12 month high of $100.13.
Wal-Mart Stores announced that its Board of Directors has initiated a stock repurchase 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 usually a sign that the company’s management believes its stock is undervalued.
Several brokerages have issued reports on WMT. Moffett Nathanson began coverage on shares of Wal-Mart Stores in a report on Monday. They issued a “neutral” rating for the company. Royal Bank Of Canada raised shares of Wal-Mart Stores from an “underperform” rating to a “sector perform” rating and set a $96.00 target price for the company in a report on Wednesday, November 29th. Vetr raised shares of Wal-Mart Stores from a “sell” rating to a “hold” rating and set a $96.71 target price for the company in a report on Monday, November 27th. Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Wal-Mart Stores in a report on Wednesday, November 22nd. Finally, Barclays reaffirmed a “buy” rating and issued a $110.00 target price on shares of Wal-Mart Stores in a report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Wal-Mart Stores presently has an average rating of “Hold” and a consensus target price of $92.68.
In related news, insider Jacqueline P. Canney sold 1,586 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $79.00, for a total transaction of $125,294.00. Following the completion of the sale, the insider now directly owns 21,125 shares in the company, valued at $1,668,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alice L. Walton sold 1,652,342 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $79.35, for a total transaction of $131,113,337.70. Following the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at $535,499,823. The disclosure for this sale can be found here. Insiders have sold 14,206,814 shares of company stock valued at $1,315,588,329 over the last 90 days. 51.39% of the stock is currently owned by company insiders.
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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