Credit Suisse Group AG Begins Coverage on Wal-Mart Stores Inc. (WMT)
Credit Suisse Group AG assumed coverage on shares of Wal-Mart Stores Inc. (NYSE:WMT) in a research report report published on Friday morning. The firm issued an outperform rating and a $80.00 target price on the retailer’s stock.
WMT has been the subject of a number of other reports. Goldman Sachs Group Inc. reissued a neutral rating on shares of Wal-Mart Stores in a report on Thursday, May 19th. Deutsche Bank AG reissued a hold rating and issued a $77.00 price objective (up from $68.00) on shares of Wal-Mart Stores in a report on Tuesday, August 2nd. Buckingham Research reissued a neutral rating on shares of Wal-Mart Stores in a report on Thursday, August 18th. Vetr lowered Wal-Mart Stores from a buy rating to a hold rating and set a $76.24 price target for the company. in a research note on Monday, August 8th. Finally, Independent Research GmbH set a $72.00 price target on Wal-Mart Stores and gave the company a neutral rating in a research note on Monday, May 23rd. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Wal-Mart Stores currently has a consensus rating of Hold and an average price target of $74.17.
Wal-Mart Stores (NYSE:WMT) opened at 71.97 on Friday. Wal-Mart Stores has a 1-year low of $56.30 and a 1-year high of $75.19. The firm has a market capitalization of $222.62 billion, a price-to-earnings ratio of 15.49 and a beta of 0.22. The company has a 50-day moving average price of $72.52 and a 200 day moving average price of $70.63.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. The business earned $120.90 billion during the quarter, compared to analyst estimates of $119.33 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts anticipate that Wal-Mart Stores will post $4.34 earnings per share for the current year.
In other news, major shareholder Alice L. Walton sold 3,142,846 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $72.41, for a total value of $227,573,478.86. Following the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $488,664,677.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 3,504,756 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $71.37, for a total value of $250,134,435.72. Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at $481,646,154.60. The disclosure for this sale can be found here. 51.55% of the stock is owned by insiders.
Several large investors have recently modified their holdings of WMT. Vigilant Capital Management LLC increased its stake in Wal-Mart Stores by 1,270.0% in the second quarter. Vigilant Capital Management LLC now owns 1,370 shares of the retailer’s stock worth $100,000 after buying an additional 1,270 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Wal-Mart Stores during the second quarter worth $100,000. Americafirst Capital Management LLC purchased a new stake in Wal-Mart Stores during the second quarter worth $106,000. Seven Eight Capital LLC purchased a new stake in Wal-Mart Stores during the second quarter worth $111,000. Finally, Piershale Financial Group Inc. increased its stake in Wal-Mart Stores by 0.6% in the second quarter. Piershale Financial Group Inc. now owns 1,607 shares of the retailer’s stock worth $117,000 after buying an additional 10 shares during the period. 29.55% of the stock is currently owned by institutional investors.
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 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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