Logan Capital Management Inc. Raises Position in Wal-Mart Stores, Inc. (NYSE:WMT)
Logan Capital Management Inc. boosted its stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,729 shares of the retailer’s stock after buying an additional 2,888 shares during the period. Logan Capital Management Inc.’s holdings in Wal-Mart Stores were worth $1,134,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. SNS Financial Group LLC raised its stake in Wal-Mart Stores by 88.4% in the fourth quarter. SNS Financial Group LLC now owns 7,026 shares of the retailer’s stock valued at $486,000 after buying an additional 3,297 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in Wal-Mart Stores during the fourth quarter valued at $354,000. Vident Investment Advisory LLC raised its stake in Wal-Mart Stores by 0.7% in the fourth quarter. Vident Investment Advisory LLC now owns 32,959 shares of the retailer’s stock valued at $2,278,000 after buying an additional 234 shares during the period. Dodge & Cox purchased a new stake in Wal-Mart Stores during the fourth quarter valued at $1,503,922,000. Finally, River & Mercantile Asset Management LLP purchased a new stake in Wal-Mart Stores during the fourth quarter valued at $1,604,000. 30.09% of the stock is currently owned by institutional investors.
Shares of Wal-Mart Stores, Inc. (NYSE WMT) traded down 0.61% during mid-day trading on Thursday, hitting $81.11. The company had a trading volume of 1,518,972 shares. The firm’s 50 day moving average is $77.17 and its 200-day moving average is $74.00. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $81.99. The firm has a market cap of $244.51 billion, a PE ratio of 18.42 and a beta of 0.29. Wal-Mart Stores also saw unusually large options trading activity on Monday. Traders bought 5,107 put options on the stock. This is an increase of 351% compared to the average daily volume of 1,132 put options.
Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, topping the consensus estimate of $0.96 by $0.04. The company had revenue of $116.53 billion during the quarter, compared to the consensus estimate of $117.01 billion. Wal-Mart Stores had a net margin of 2.79% and a return on equity of 16.96%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts expect that Wal-Mart Stores, Inc. will post $4.36 EPS for the current year.
Several analysts have weighed in on WMT shares. KeyCorp reissued an “overweight” rating and issued a $90.00 target price on shares of Wal-Mart Stores in a report on Wednesday, April 19th. Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Tuesday, April 25th. MKM Partners restated a “neutral” rating and issued a $77.00 price objective (up from $72.00) on shares of Wal-Mart Stores in a research report on Wednesday, April 26th. Pacific Crest downgraded Wal-Mart Stores to a “hold” rating in a research report on Sunday, April 30th. Finally, Royal Bank Of Canada restated a “sell” rating and issued a $67.00 price objective on shares of Wal-Mart Stores in a research report on Tuesday, May 2nd. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have given a buy rating to the company. Wal-Mart Stores currently has a consensus rating of “Hold” and a consensus target price of $78.86.
In other news, insider David Chojnowski sold 5,142 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $79.36, for a total transaction of $408,069.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Cheesewright sold 25,729 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $76.65, for a total transaction of $1,972,127.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,006,720 shares of company stock valued at $1,816,131,604. 51.39% of the stock is currently owned by insiders.
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 operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.
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