Wal-Mart Stores Inc. (WMT) Price Target Lowered to $75.00 at Royal Bank Of Canada
Wal-Mart Stores Inc. (NYSE:WMT) had its price target trimmed by Royal Bank Of Canada from $76.00 to $75.00 in a research report released on Friday. The brokerage currently has an underperform rating on the retailer’s stock.
Other analysts also recently issued research reports about the stock. Jefferies Group set a $85.00 target price on shares of Wal-Mart Stores and gave the company a buy rating in a report on Tuesday, August 9th. Nomura reaffirmed a buy rating and issued a $81.00 target price on shares of Wal-Mart Stores in a report on Thursday, June 23rd. Vetr upgraded shares of Wal-Mart Stores from a hold rating to a buy rating and set a $73.65 price objective for the company in a research note on Monday, June 13th. Finally, Guggenheim initiated coverage on shares of Wal-Mart Stores in a research note on Friday, September 30th. They issued a buy rating and a $82.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $75.46.
Shares of Wal-Mart Stores (NYSE:WMT) traded down 0.98% during mid-day trading on Friday, reaching $68.03. 3,554,946 shares of the company traded hands. The stock’s 50-day moving average is $71.77 and its 200-day moving average is $70.95. Wal-Mart Stores has a 52 week low of $56.30 and a 52 week high of $75.19. The company has a market capitalization of $210.43 billion, a P/E ratio of 14.65 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 net margin of 3.04% and a return on equity of 17.93%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, equities analysts predict that Wal-Mart Stores will post $4.34 EPS for the current fiscal year.
In other news, major shareholder Alice L. Walton sold 2,100,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $71.44, for a total transaction of $150,024,000.00. Following the completion of the transaction, the insider now owns 6,748,580 shares in the company, valued at $482,118,555.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jim C. Walton sold 3,502,398 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $73.02, for a total transaction of $255,745,101.96. Following the transaction, the insider now owns 10,507,127 shares of the company’s stock, valued at approximately $767,230,413.54. 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. Envestnet Asset Management Inc. raised its position in shares of Wal-Mart Stores by 4.2% in the first quarter. Envestnet Asset Management Inc. now owns 608,983 shares of the retailer’s stock worth $41,709,000 after buying an additional 24,292 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Wal-Mart Stores by 12.9% in the second quarter. Acadian Asset Management LLC now owns 3,788,062 shares of the retailer’s stock worth $276,603,000 after buying an additional 431,780 shares in the last quarter. British Columbia Investment Management Corp raised its position in shares of Wal-Mart Stores by 2.1% in the second quarter. British Columbia Investment Management Corp now owns 621,749 shares of the retailer’s stock worth $45,400,000 after buying an additional 13,017 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Wal-Mart Stores by 33.7% in the first quarter. Panagora Asset Management Inc. now owns 1,692,255 shares of the retailer’s stock worth $115,903,000 after buying an additional 426,436 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Wal-Mart Stores by 3.0% in the second quarter. Retirement Systems of Alabama now owns 1,582,960 shares of the retailer’s stock worth $115,588,000 after buying an additional 45,683 shares in the last quarter. Institutional investors and hedge funds 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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