Bridges Investment Counsel Inc. Sells 9,161 Shares of Wal-Mart Stores, Inc. (WMT)
Bridges Investment Counsel Inc. lowered its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 55.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,410 shares of the retailer’s stock after selling 9,161 shares during the quarter. Bridges Investment Counsel Inc.’s holdings in Wal-Mart Stores were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of WMT. Fulton Bank N.A. raised its stake in Wal-Mart Stores by 8.8% during the 3rd quarter. Fulton Bank N.A. now owns 20,510 shares of the retailer’s stock valued at $1,602,000 after purchasing an additional 1,652 shares during the period. Eqis Capital Management Inc. raised its stake in Wal-Mart Stores by 4.4% during the 3rd quarter. Eqis Capital Management Inc. now owns 20,752 shares of the retailer’s stock valued at $1,622,000 after purchasing an additional 872 shares during the period. Perpetual Ltd raised its stake in Wal-Mart Stores by 6.5% during the 2nd quarter. Perpetual Ltd now owns 14,852 shares of the retailer’s stock valued at $1,124,000 after purchasing an additional 900 shares during the period. MPS Loria Financial Planners LLC bought a new stake in Wal-Mart Stores during the 2nd quarter valued at approximately $185,000. Finally, Frontier Investment Mgmt Co. bought a new stake in Wal-Mart Stores during the 2nd quarter valued at approximately $12,983,000. 30.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jacqueline P. Canney sold 1,586 shares of Wal-Mart Stores stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $79.00, for a total value of $125,294.00. Following the completion of the transaction, the insider now owns 21,125 shares in the company, valued at approximately $1,668,875. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 2,065 shares of Wal-Mart Stores stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $96.99, for a total value of $200,284.35. Following the completion of the transaction, the insider now owns 19,060 shares of the company’s stock, valued at approximately $1,848,629.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,421,174 shares of company stock valued at $1,366,398,832. Company insiders own 51.39% of the company’s stock.
Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. The firm had revenue of $122.14 billion during the quarter, compared to analysts’ expectations of $120.23 billion. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. equities analysts expect that Wal-Mart Stores, Inc. will post 4.43 EPS for the current year.
Wal-Mart Stores announced that its Board of Directors has initiated a share buyback program on Tuesday, October 10th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Several brokerages recently issued reports on WMT. Goldman Sachs Group downgraded Wal-Mart Stores from a “buy” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research note on Monday, November 20th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and set a $90.00 target price on shares of Wal-Mart Stores in a research note on Tuesday, September 19th. Zacks Investment Research downgraded Wal-Mart Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Barclays reissued a “buy” rating and set a $110.00 target price on shares of Wal-Mart Stores in a research note on Tuesday, November 21st. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $84.00 target price (up previously from $80.00) on shares of Wal-Mart Stores in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $92.96.
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Wal-Mart Stores Company 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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