Wal-Mart Stores Inc. (WMT) Receives New Coverage from Analysts at Guggenheim
WMT has been the topic of a number of other research reports. Deutsche Bank AG reissued a hold rating and set a $77.00 price target (up previously from $68.00) on shares of Wal-Mart Stores in a research report on Tuesday, August 2nd. Buckingham Research reissued a neutral rating on shares of Wal-Mart Stores in a research report on Thursday, August 18th. Vetr downgraded Wal-Mart Stores from a buy rating to a hold rating and set a $76.24 price target on the stock. in a research report on Monday, August 8th. Nomura set a $81.00 price target on Wal-Mart Stores and gave the stock a buy rating in a research report on Friday, August 19th. Finally, Jefferies Group raised Wal-Mart Stores from a hold rating to a buy rating and boosted their price target for the stock from $60.00 to $82.00 in a research report on Monday, June 6th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $75.56.
Shares of Wal-Mart Stores (NYSE:WMT) opened at 71.67 on Friday. Wal-Mart Stores has a 52 week low of $56.30 and a 52 week high of $75.19. The company has a market cap of $221.69 billion, a P/E ratio of 15.43 and a beta of 0.20. The company’s 50-day moving average price is $72.03 and its 200 day moving average price is $70.95.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. Wal-Mart Stores’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, equities analysts forecast that Wal-Mart Stores will post $4.35 EPS for the current fiscal year.
In other news, major shareholder Alice L. Walton sold 3,142,846 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $72.41, for a total transaction of $227,573,478.86. Following the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $488,664,677.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven P. Whaley sold 1,100 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $71.46, for a total transaction of $78,606.00. Following the transaction, the insider now directly owns 29,464 shares in the company, valued at approximately $2,105,497.44. The disclosure for this sale can be found here. Insiders own 51.55% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WMT. Fisher Asset Management LLC boosted its position in Wal-Mart Stores by 1,671.0% in the second quarter. Fisher Asset Management LLC now owns 4,930,805 shares of the retailer’s stock worth $365,175,000 after buying an additional 4,652,393 shares during the period. Bank of Montreal Can acquired a new position in shares of Wal-Mart Stores during the second quarter valued at $309,966,000. Emerald Acquisition Ltd. acquired a new position in shares of Wal-Mart Stores during the second quarter valued at $260,853,000. State Street Corp boosted its position in shares of Wal-Mart Stores by 2.5% in the first quarter. State Street Corp now owns 71,591,885 shares of the retailer’s stock valued at $4,903,327,000 after buying an additional 1,726,468 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Wal-Mart Stores by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,418,449 shares of the retailer’s stock valued at $541,665,000 after buying an additional 1,449,033 shares during the last quarter. 29.55% of the stock is currently owned by institutional investors.
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 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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