Traders Buy Wal-Mart Stores Inc. (WMT) on Weakness on Analyst Downgrade
Investors purchased shares of Wal-Mart Stores Inc. (NYSE:WMT) on weakness during trading hours on Tuesday after BMO Capital Markets lowered their price target on the stock to $63.00. $170.81 million flowed into the stock on the tick-up and $71.79 million flowed out of the stock on the tick-down, for a money net flow of $99.02 million into the stock. Of all companies tracked, Wal-Mart Stores had the 6th highest net in-flow for the day. Wal-Mart Stores traded down ($0.72) for the day and closed at $67.98
Several other brokerages have also issued reports on WMT. KeyCorp began coverage on shares of Wal-Mart Stores in a report on Thursday, September 29th. They issued an “overweight” rating and a $90.00 price target for the company. Credit Suisse Group AG began coverage on shares of Wal-Mart Stores in a report on Friday, September 16th. They issued an “outperform” rating and a $80.00 price target for the company. Zacks Investment Research lowered shares of Wal-Mart Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Guggenheim began coverage on shares of Wal-Mart Stores in a report on Friday, September 30th. They issued a “buy” rating and a $82.00 price target for the company. Finally, JPMorgan Chase & Co. set a $72.00 price target on shares of Wal-Mart Stores and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Wal-Mart Stores currently has a consensus rating of “Hold” and a consensus price target of $74.93.
In other news, major shareholder Alice L. Walton sold 3,142,846 shares of the 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 completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at $488,664,677.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Alice L. Walton sold 2,100,000 shares of the stock in a transaction on Friday, September 9th. The stock was 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 of the company’s stock, valued at $482,118,555.20. The disclosure for this sale can be found here. Insiders own 51.55% of the company’s stock.
Several large investors have recently bought and sold shares of WMT. Icon Advisers Inc. Co. purchased a new stake in Wal-Mart Stores during the first quarter valued at $767,000. CIBC World Markets Inc. boosted its stake in Wal-Mart Stores by 27.3% in the first quarter. CIBC World Markets Inc. now owns 217,896 shares of the retailer’s stock valued at $14,924,000 after buying an additional 46,673 shares during the period. Raab & Moskowitz Asset Management LLC boosted its stake in Wal-Mart Stores by 3.4% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 6,783 shares of the retailer’s stock valued at $464,000 after buying an additional 221 shares during the period. Middleton & Co Inc MA boosted its stake in Wal-Mart Stores by 718.5% in the first quarter. Middleton & Co Inc MA now owns 35,132 shares of the retailer’s stock valued at $2,406,000 after buying an additional 30,840 shares during the period. Finally, Hyman Charles D purchased a new stake in Wal-Mart Stores during the first quarter valued at $1,291,000. Institutional investors own 29.55% of the company’s stock.
The stock has a market capitalization of $208.45 billion, a P/E ratio of 14.51 and a beta of 0.20. The firm has a 50 day moving average of $71.48 and a 200-day moving average of $70.97.
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 analysts anticipate that Wal-Mart Stores Inc. will post $4.34 EPS for the current year.
Wal-Mart Stores Company Profile
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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