Patriot Wealth Management Inc. Increases Stake in Wal-Mart Stores, Inc. (NYSE:WMT)
Patriot Wealth Management Inc. boosted its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,704 shares of the retailer’s stock after buying an additional 1,619 shares during the period. Patriot Wealth Management Inc.’s holdings in Wal-Mart Stores were worth $4,216,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMT. Canada Pension Plan Investment Board increased its position in Wal-Mart Stores by 161.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,297,419 shares of the retailer’s stock valued at $237,678,000 after buying an additional 2,035,800 shares during the period. Karp Capital Management Corp purchased a new position in Wal-Mart Stores during the first quarter valued at about $111,777,000. Swiss National Bank increased its position in Wal-Mart Stores by 24.3% in the first quarter. Swiss National Bank now owns 6,072,429 shares of the retailer’s stock valued at $437,701,000 after buying an additional 1,188,400 shares during the period. State Street Corp increased its position in Wal-Mart Stores by 1.2% in the first quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock valued at $5,303,013,000 after buying an additional 854,010 shares during the period. Finally, Fisher Asset Management LLC increased its position in Wal-Mart Stores by 10.3% in the second quarter. Fisher Asset Management LLC now owns 5,853,675 shares of the retailer’s stock valued at $443,006,000 after buying an additional 544,692 shares during the period. 30.09% of the stock is owned by institutional investors and hedge funds.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded down 0.32% during trading on Friday, hitting $80.40. The company’s stock had a trading volume of 7,905,495 shares. The company has a market capitalization of $242.37 billion, a P/E ratio of 18.26 and a beta of 0.29. The firm’s 50 day moving average is $77.44 and its 200-day moving average is $74.15. Wal-Mart Stores, Inc. has a 1-year low of $65.28 and a 1-year high of $81.99.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, May 18th. The retailer reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.04. The firm had revenue of $116.53 billion for the quarter, compared to analyst estimates of $117.01 billion. Wal-Mart Stores had a return on equity of 16.96% and a net margin of 2.79%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. Analysts forecast that Wal-Mart Stores, Inc. will post $4.36 EPS for the current fiscal year.
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Several research analysts recently weighed in on WMT shares. Zacks Investment Research raised shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, July 13th. Vetr raised shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $79.40 target price for the company in a research note on Monday, May 15th. Royal Bank Of Canada reissued a “sell” rating and issued a $67.00 target price on shares of Wal-Mart Stores in a research note on Tuesday, May 2nd. BMO Capital Markets raised shares of Wal-Mart Stores from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $63.00 to $80.00 in a research note on Friday, May 19th. Finally, KeyCorp reissued an “overweight” rating and issued a $90.00 target price on shares of Wal-Mart Stores in a research note on Wednesday, April 19th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $79.40.
In other Wal-Mart Stores news, Director S Robson Walton sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $79.25, for a total value of $237,750,000.00. Following the sale, the director now owns 3,344,956 shares of the company’s stock, valued at approximately $265,087,763. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Cheesewright sold 25,729 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $76.65, for a total value of $1,972,127.85. The disclosure for this sale can be found here. Insiders sold a total of 23,006,720 shares of company stock worth $1,816,131,604 in the last ninety days. Insiders own 51.39% of the company’s stock.
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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