Credit Suisse Group AG Reaffirms “Outperform” Rating for Wal-Mart Stores Inc. (WMT)
Credit Suisse Group AG reaffirmed their outperform rating on shares of Wal-Mart Stores Inc. (NYSE:WMT) in a research note released on Wednesday morning. The firm currently has a $80.00 target price on the retailer’s stock.
Other analysts also recently issued research reports about the company. Jefferies Group set a $86.00 target price on Wal-Mart Stores and gave the stock a buy rating in a research report on Tuesday, October 4th. Deutsche Bank AG restated a hold rating and issued a $77.00 target price (up previously from $68.00) on shares of Wal-Mart Stores in a research report on Tuesday, August 2nd. Buckingham Research restated 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 target price for the company. in a research report on Monday, August 8th. Finally, Nomura set a $81.00 target price on Wal-Mart Stores and gave the stock a buy rating in a research report on Friday, August 19th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $75.26.
Wal-Mart Stores (NYSE:WMT) opened at 67.98 on Wednesday. Wal-Mart Stores has a 12-month low of $56.30 and a 12-month high of $75.19. The company has a market capitalization of $210.28 billion, a PE ratio of 14.64 and a beta of 0.20. The firm’s 50 day moving average price is $71.63 and its 200-day moving average price is $70.99.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly 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 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%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. On average, equities analysts anticipate that Wal-Mart Stores will post $4.34 earnings per share for the current fiscal year.
In other Wal-Mart Stores news, major shareholder Jim C. Walton sold 3,502,398 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $73.02, for a total value of $255,745,101.96. Following the transaction, the insider now owns 10,507,127 shares of the company’s stock, valued at $767,230,413.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 3,504,756 shares of the 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 transaction, the insider now directly owns 6,748,580 shares in the company, valued at approximately $481,646,154.60. The disclosure for this sale can be found here. 51.55% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nepsis Capital Management Inc. increased its position in Wal-Mart Stores by 48.9% in the first quarter. Nepsis Capital Management Inc. now owns 57,133 shares of the retailer’s stock worth $3,913,000 after buying an additional 18,757 shares in the last quarter. Lodestar Investment Counsel LLC IL increased its position in Wal-Mart Stores by 2.0% in the first quarter. Lodestar Investment Counsel LLC IL now owns 114,506 shares of the retailer’s stock worth $7,843,000 after buying an additional 2,291 shares in the last quarter. Headinvest LLC purchased a new position in Wal-Mart Stores during the first quarter worth $3,088,000. First Manhattan Co. increased its position in Wal-Mart Stores by 17.0% in the first quarter. First Manhattan Co. now owns 135,351 shares of the retailer’s stock worth $9,270,000 after buying an additional 19,680 shares in the last quarter. Finally, Duncker Streett & Co. Inc. increased its position in Wal-Mart Stores by 3.8% in the first quarter. Duncker Streett & Co. Inc. now owns 13,218 shares of the retailer’s stock worth $905,000 after buying an additional 483 shares in 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.
Receive News & Ratings for Wal-Mart Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wal-Mart Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.