Bell State Bank & Trust raised its stake in Wal-Mart Stores Inc. (NYSE:WMT) by 7.0% during the second quarter, Holdings Channel reports. The fund owned 45,090 shares of the retailer’s stock after buying an additional 2,938 shares during the period. Wal-Mart Stores accounts for approximately 1.9% of Bell State Bank & Trust’s investment portfolio, making the stock its 19th largest position. Bell State Bank & Trust’s holdings in Wal-Mart Stores were worth $3,292,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vigilant Capital Management LLC raised its position in Wal-Mart Stores by 1,270.0% in the second quarter. Vigilant Capital Management LLC now owns 1,370 shares of the retailer’s stock valued at $100,000 after buying an additional 1,270 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Wal-Mart Stores during the second quarter valued at approximately $100,000. Americafirst Capital Management LLC purchased a new position in Wal-Mart Stores during the second quarter valued at approximately $106,000. Piershale Financial Group Inc. raised its position in Wal-Mart Stores by 0.6% in the second quarter. Piershale Financial Group Inc. now owns 1,607 shares of the retailer’s stock valued at $117,000 after buying an additional 10 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in Wal-Mart Stores by 118.1% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,649 shares of the retailer’s stock valued at $120,000 after buying an additional 893 shares in the last quarter. Institutional investors own 29.55% of the company’s stock.
Wal-Mart Stores Inc. (NYSE:WMT) opened at 72.12 on Monday. The firm has a 50-day moving average price of $72.16 and a 200 day moving average price of $70.84. The firm has a market capitalization of $223.09 billion, a P/E ratio of 15.53 and a beta of 0.20. Wal-Mart Stores Inc. has a one year low of $56.30 and a one year high of $75.19.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, beating the 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 company had revenue of $120.90 billion for the quarter, compared to analyst estimates of $119.33 billion. During the same quarter last year, the business earned $1.08 earnings per share. Wal-Mart Stores’s revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that Wal-Mart Stores Inc. will post $4.35 earnings per share for the current year.
Several research firms have recently commented on WMT. Guggenheim began coverage on Wal-Mart Stores in a research report on Friday. They set a “buy” rating and a $82.00 price target for the company. KeyCorp assumed coverage on Wal-Mart Stores in a research note on Thursday. They issued an “overweight” rating and a $90.00 price objective on the stock. Buckingham Research set a $70.00 price objective on Wal-Mart Stores and gave the company a “hold” rating in a research note on Wednesday, September 28th. Barclays PLC upgraded Wal-Mart Stores from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $87.00 in a research note on Thursday, September 22nd. Finally, Vetr upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $75.98 price objective on the stock in a research note on Monday, September 19th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $75.53.
In other news, major shareholder Jim C. Walton sold 3,502,398 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $73.02, for a total value of $255,745,101.96. Following the completion of the transaction, the insider now directly owns 10,507,127 shares in the company, valued at $767,230,413.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alice L. Walton sold 3,142,846 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at $488,664,677.80. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by company 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 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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