Wal-Mart Stores Inc. (WMT) PT Set at $90.00 by KeyCorp
Wal-Mart Stores Inc. (NYSE:WMT) has been assigned a $90.00 target price by equities researchers at KeyCorp in a note issued to investors on Friday. The firm currently has a a “buy” rating on the retailer’s stock. KeyCorp’s price objective indicates a potential upside of 32.39% from the company’s current price.
A number of other brokerages have also recently issued reports on WMT. Credit Suisse Group AG initiated coverage on shares of Wal-Mart Stores in a research note on Friday, September 16th. They issued an “outperform” rating and a $80.00 price objective for the company. Zacks Investment Research cut shares of Wal-Mart Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. 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. Royal Bank Of Canada upped their price objective on shares of Wal-Mart Stores from $73.00 to $76.00 and gave the company an “underperform” rating in a research note on Friday, August 19th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a research note on Monday, October 3rd. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $75.26.
Shares of Wal-Mart Stores (NYSE:WMT) opened at 67.98 on Friday. The firm has a 50-day moving average of $71.63 and a 200 day moving average of $70.99. Wal-Mart Stores has a 1-year low of $56.30 and a 1-year high of $75.19. The company has a market capitalization of $210.28 billion, a P/E ratio of 14.64 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The business earned $120.90 billion during the quarter, compared to analysts’ expectations of $119.33 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect 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 2,100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 6,748,580 shares in the company, valued at approximately $482,118,555.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Jim C. Walton sold 3,502,398 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 10,507,127 shares in the company, valued at approximately $767,230,413.54. The disclosure for this sale can be found here. Company insiders own 51.55% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake 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 valued at $365,175,000 after buying an additional 4,652,393 shares during the last quarter. Bank of Montreal Can bought a new stake in Wal-Mart Stores during the second quarter valued at about $309,966,000. Emerald Acquisition Ltd. bought a new stake in Wal-Mart Stores during the second quarter valued at about $260,853,000. State Street Corp boosted its stake in 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 stake in 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. 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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