Traders Buy Wal-Mart Stores Inc. (WMT) on Weakness
Investors bought shares of Wal-Mart Stores Inc. (NYSE:WMT) on weakness during trading on Friday. $152.98 million flowed into the stock on the tick-up and $73.52 million flowed out of the stock on the tick-down, for a money net flow of $79.46 million into the stock. Of all companies tracked, Wal-Mart Stores had the highest net in-flow for the day. Wal-Mart Stores traded down ($0.34) for the day and closed at $72.50
A number of research firms recently commented on WMT. Royal Bank Of Canada set a $66.00 price target on shares of Wal-Mart Stores and gave the stock a “sell” rating in a research note on Monday, May 9th. Morgan Stanley set a $63.00 price target on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a research note on Monday, May 9th. BMO Capital Markets reaffirmed a “sell” rating and set a $55.00 price target on shares of Wal-Mart Stores in a research note on Tuesday, May 10th. Vetr raised shares of Wal-Mart Stores from a “buy” rating to a “strong-buy” rating and set a $72.75 price target for the company in a research note on Monday, May 16th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $64.00 price target (up from $62.00) on shares of Wal-Mart Stores in a research note on Monday, May 16th. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.07.
The company has a market cap of $224.26 billion and a price-to-earnings ratio of 15.61. The stock’s 50-day moving average is $73.04 and its 200-day moving average is $70.09.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.05. The company had revenue of $120.90 billion for the quarter, compared to analysts’ expectations of $119.33 billion. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. On average, analysts predict that Wal-Mart Stores Inc. will post $4.34 EPS for the current year.
In other news, insider Steven P. Whaley sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $71.46, for a total transaction of $78,606.00. Following the completion of the sale, the insider now owns 29,464 shares in the company, valued at approximately $2,105,497.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rosalind G. Brewer sold 10,794 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $71.65, for a total transaction of $773,390.10. Following the sale, the executive vice president now owns 285,749 shares of the company’s stock, valued at approximately $20,473,915.85. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of WMT. American International Group Inc. increased its stake in shares of Wal-Mart Stores by 734.5% in the fourth quarter. American International Group Inc. now owns 6,379,113 shares of the retailer’s stock valued at $391,040,000 after buying an additional 5,614,652 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Wal-Mart Stores by 39.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,836,543 shares of the retailer’s stock worth $357,803,000 after buying an additional 1,654,378 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Wal-Mart Stores by 186.5% in the fourth quarter. Baird Financial Group Inc. now owns 304,265 shares of the retailer’s stock worth $18,651,000 after buying an additional 198,047 shares during the last quarter. Finally, Opus Investment Management Inc. acquired a new position in shares of Wal-Mart Stores during the fourth quarter worth approximately $3,801,000.
Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club.
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