RBC Capital Markets restated their underperform rating on shares of Wal-Mart Stores Inc. (NYSE:WMT) in a research note published on Saturday morning. The firm currently has a $75.00 price objective on the retailer’s stock, down from their prior price objective of $76.00.
A number of other equities research analysts have also recently weighed in on the stock. Macquarie set a $61.00 price objective on shares of Wal-Mart Stores and gave the company a neutral rating in a research note on Tuesday. Guggenheim started coverage on shares of Wal-Mart Stores in a research report on Friday, September 30th. They issued a buy rating and a $82.00 price target on the stock. Zacks Investment Research cut shares of Wal-Mart Stores from a buy rating to a hold rating in a research report on Wednesday, August 24th. Morgan Stanley set a $73.00 price target on shares of Wal-Mart Stores and gave the stock a neutral rating in a research report on Wednesday, August 3rd. Finally, Buckingham Research set a $70.00 price target on shares of Wal-Mart Stores and gave the stock a hold rating in a research report on Wednesday, September 28th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $75.56.
Wal-Mart Stores (NYSE:WMT) opened at 68.70 on Friday. Wal-Mart Stores has a one year low of $56.30 and a one year high of $75.19. The stock’s 50 day moving average is $71.77 and its 200 day moving average is $70.95. The stock has a market capitalization of $212.51 billion, a price-to-earnings ratio of 14.79 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $120.90 billion for the quarter, compared to analysts’ expectations of $119.33 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The company’s revenue was up .5% on a year-over-year basis. On average, equities analysts forecast that Wal-Mart Stores will post $4.34 EPS for the current year.
In other news, major shareholder Alice L. Walton sold 3,504,756 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $71.37, for a total transaction of $250,134,435.72. Following the sale, the insider now directly owns 6,748,580 shares in the company, valued at $481,646,154.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven P. Whaley sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $71.46, for a total value of $78,606.00. Following the sale, the insider now owns 29,464 shares in the company, valued at $2,105,497.44. The disclosure for this sale can be found here. Insiders own 51.55% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WMT. Vigilant Capital Management LLC boosted its stake in shares of 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 worth $100,000 after buying an additional 1,270 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Wal-Mart Stores during the second quarter worth $100,000. Americafirst Capital Management LLC bought a new stake in shares of Wal-Mart Stores during the second quarter worth $106,000. Seven Eight Capital LLC bought a new stake in shares of Wal-Mart Stores during the second quarter worth $111,000. Finally, Piershale Financial Group Inc. boosted its stake in shares of Wal-Mart Stores by 0.6% in the second quarter. Piershale Financial Group Inc. now owns 1,607 shares of the retailer’s stock worth $117,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 29.55% of the company’s stock.
About Wal-Mart Stores
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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