Oppenheimer Asset Management Inc. Invests $921,000 in Wal-Mart Stores, Inc. (WMT)
Oppenheimer Asset Management Inc. acquired a new stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) during the first quarter, Holdings Channel reports. The fund acquired 12,761 shares of the retailer’s stock, valued at approximately $921,000.
Other hedge funds also recently made changes to their positions in the company. Logan Capital Management Inc. boosted its stake in shares of Wal-Mart Stores by 22.5% in the first quarter. Logan Capital Management Inc. now owns 15,729 shares of the retailer’s stock valued at $1,134,000 after buying an additional 2,888 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Wal-Mart Stores by 81.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 27,544 shares of the retailer’s stock valued at $1,984,000 after buying an additional 12,402 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Wal-Mart Stores by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 9,089,442 shares of the retailer’s stock valued at $655,167,000 after buying an additional 399,273 shares in the last quarter. Brown Advisory Securities LLC boosted its stake in shares of Wal-Mart Stores by 31.7% in the first quarter. Brown Advisory Securities LLC now owns 11,734 shares of the retailer’s stock valued at $847,000 after buying an additional 2,824 shares in the last quarter. Finally, Dynamic Capital Management Ltd bought a new stake in shares of Wal-Mart Stores during the first quarter valued at about $1,260,000. 30.09% of the stock is owned by institutional investors.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded down 0.32% during midday trading on Friday, hitting $80.40. 7,905,495 shares of the company were exchanged. Wal-Mart Stores, Inc. has a one year low of $65.28 and a one year high of $81.99. The stock has a market cap of $242.37 billion, a PE ratio of 18.26 and a beta of 0.29. The stock’s 50-day moving average is $77.44 and its 200-day moving average is $74.15.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Equities research analysts anticipate that Wal-Mart Stores, Inc. will post $4.36 EPS for the current year.
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Several analysts have recently issued reports on the stock. BidaskClub raised shares of Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a research note on Friday. Jefferies Group LLC set a $88.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Friday. Stephens raised shares of Wal-Mart Stores from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $91.00 in a research note on Friday. Cowen and Company set a $86.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Wal-Mart Stores and gave the company a “sell” rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $79.40.
In other news, insider David Cheesewright sold 25,729 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $76.65, for a total transaction of $1,972,127.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alice L. Walton sold 2,576,324 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $78.65, for a total transaction of $202,627,882.60. Following the transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $530,775,817. The disclosure for this sale can be found here. Insiders have sold a total of 23,006,720 shares of company stock valued at $1,816,131,604 over the last ninety days. 51.39% of the stock is 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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