Investment Counsel Inc. decreased its position in Wal-Mart Stores, Inc. (NYSE:WMT) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,716 shares of the retailer’s stock after selling 1,715 shares during the period. Wal-Mart Stores accounts for approximately 2.0% of Investment Counsel Inc.’s investment portfolio, making the stock its 20th largest position. Investment Counsel Inc.’s holdings in Wal-Mart Stores were worth $2,400,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Wal-Mart Stores by 1.2% in the 1st 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. American Century Companies Inc. grew its stake in shares of Wal-Mart Stores by 2.6% in the 1st quarter. American Century Companies Inc. now owns 10,040,766 shares of the retailer’s stock valued at $723,738,000 after buying an additional 256,833 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Wal-Mart Stores by 4.6% in the 1st 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 during the period. Legal & General Group Plc grew its stake in shares of Wal-Mart Stores by 5.3% in the 1st quarter. Legal & General Group Plc now owns 8,594,967 shares of the retailer’s stock valued at $619,457,000 after buying an additional 429,599 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Wal-Mart Stores by 1.2% in the 1st quarter. Ameriprise Financial Inc. now owns 8,266,589 shares of the retailer’s stock valued at $595,995,000 after buying an additional 99,921 shares during the period. 30.19% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Investment Counsel Inc. Has $2.40 Million Stake in Wal-Mart Stores, Inc. (WMT)” was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.dailypolitical.com/2017/09/25/investment-counsel-inc-has-2-40-million-stake-in-wal-mart-stores-inc-wmt.html.

WMT has been the subject of several analyst reports. Jefferies Group LLC set a $88.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Monday, May 29th. Robert W. Baird set a $85.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Wednesday, May 31st. Vetr raised shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.17 price target for the company in a research note on Wednesday, June 7th. BidaskClub cut shares of Wal-Mart Stores from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Zacks Investment Research raised shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Wal-Mart Stores currently has a consensus rating of “Hold” and an average target price of $80.25.

Wal-Mart Stores, Inc. (NYSE WMT) opened at 79.53 on Monday. The firm’s 50-day moving average is $79.87 and its 200 day moving average is $76.28. Wal-Mart Stores, Inc. has a 12 month low of $65.28 and a 12 month high of $81.99. The stock has a market capitalization of $237.57 billion, a P/E ratio of 19.11 and a beta of 0.30.

Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $123.40 billion for the quarter, compared to analysts’ expectations of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current year.

In other Wal-Mart Stores news, insider David Cheesewright sold 25,729 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $76.65, for a total transaction of $1,972,127.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director S Robson Walton sold 2,117,863 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $78.45, for a total transaction of $166,146,352.35. Following the sale, the director now directly owns 3,344,956 shares in the company, valued at $262,411,798.20. The disclosure for this sale can be found here. Insiders have sold 7,948,971 shares of company stock worth $628,583,326 over the last three months. 51.39% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding WMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wal-Mart Stores, Inc. (NYSE:WMT).

Institutional Ownership by Quarter for Wal-Mart Stores (NYSE:WMT)

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.