Wal-Mart Stores Inc. (WMT) Given New $76.00 Price Target at Telsey Advisory Group
Wal-Mart Stores Inc. (NYSE:WMT) had its target price cut by equities researchers at Telsey Advisory Group from $78.00 to $76.00 in a research report issued on Friday. The firm presently has a “market perform” rating on the retailer’s stock. Telsey Advisory Group’s price objective would suggest a potential upside of 9.57% from the company’s previous close.
WMT has been the subject of several other research reports. Vetr lowered shares of Wal-Mart Stores from a “buy” rating to a “hold” rating and set a $75.25 price objective for the company. in a research report on Thursday, September 15th. JPMorgan Chase & Co. set a $75.00 price objective on shares of Wal-Mart Stores and gave the company a “neutral” rating in a research report on Tuesday. Jefferies Group set a $86.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Monday, August 22nd. Buckingham Research set a $70.00 price objective on shares of Wal-Mart Stores and gave the company a “hold” rating in a research report on Wednesday, September 28th. Finally, Macquarie set a $61.00 price objective on shares of Wal-Mart Stores and gave the company a “neutral” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Wal-Mart Stores has an average rating of “Hold” and an average price target of $75.53.
Wal-Mart Stores (NYSE:WMT) opened at 69.36 on Friday. Wal-Mart Stores has a 12 month low of $56.30 and a 12 month high of $75.19. The firm has a market cap of $214.55 billion, a price-to-earnings ratio of 14.93 and a beta of 0.20. The company’s 50-day moving average is $71.93 and its 200 day moving average is $70.94.
Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The firm earned $120.90 billion during the quarter, compared to analyst estimates of $119.33 billion. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. Wal-Mart Stores’s 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, equities research analysts predict that Wal-Mart Stores will post $4.34 earnings per share for the current year.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 3,142,846 shares of Wal-Mart Stores stock in a transaction on 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 sale, the insider now owns 6,748,580 shares in the company, valued at $488,664,677.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven P. Whaley sold 1,100 shares of Wal-Mart Stores stock in a transaction on Friday, August 26th. The stock was sold at an average price of $71.46, for a total transaction of $78,606.00. Following the sale, the insider now owns 29,464 shares in the company, valued at approximately $2,105,497.44. The disclosure for this sale can be found here. Company insiders own 51.55% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vigilant Capital Management LLC boosted its position in shares of 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 last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Wal-Mart Stores during the second quarter worth about $100,000. Americafirst Capital Management LLC bought a new position in shares of Wal-Mart Stores during the second quarter worth about $106,000. Seven Eight Capital LLC bought a new position in shares of Wal-Mart Stores during the second quarter worth about $111,000. Finally, Piershale Financial Group Inc. boosted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 29.55% of the company’s stock.
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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