Research analysts at KeyCorp assumed coverage on shares of Wal-Mart Stores Inc. (NYSE:WMT) in a report released on Thursday. The brokerage set an “overweight” rating and a $90.00 price target on the retailer’s stock. KeyCorp’s price objective would suggest a potential upside of 24.79% from the company’s current price.
Several other equities research analysts have also weighed in on the stock. Buckingham Research set a $70.00 target price on shares of Wal-Mart Stores and gave the stock a “hold” rating in a report on Wednesday, September 28th. Barclays PLC upgraded shares of Wal-Mart Stores from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $87.00 in a report on Thursday, September 22nd. Vetr upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $75.98 target price on the stock in a report on Monday, September 19th. Credit Suisse Group AG started coverage on shares of Wal-Mart Stores in a report on Friday, September 16th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, Jefferies Group set a $86.00 target price on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Monday, September 12th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Wal-Mart Stores has an average rating of “Hold” and a consensus target price of $75.53.
Shares of Wal-Mart Stores (NYSE:WMT) opened at 72.12 on Thursday. The company has a 50-day moving average of $72.16 and a 200-day moving average of $70.84. The company has a market capitalization of $223.09 billion, a PE ratio of 15.53 and a beta of 0.22. Wal-Mart Stores 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 data on Thursday, August 18th. The retailer reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $120.90 billion for the quarter, compared to analyst estimates of $119.33 billion. During the same period in the prior year, the business posted $1.08 earnings per share. Wal-Mart Stores’s revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that Wal-Mart Stores will post $4.35 earnings per share for the current year.
In related news, major shareholder Alice L. Walton sold 3,504,756 shares of Wal-Mart Stores stock in a transaction that occurred on Monday, August 29th. The shares were 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 of the company’s stock, valued at approximately $481,646,154.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 3,142,846 shares of Wal-Mart Stores 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 sale, the insider now directly owns 6,748,580 shares in the company, valued at $488,664,677.80. The disclosure for this sale can be found here. Corporate insiders own 51.55% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Vigilant Capital Management LLC raised its stake 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 worth $100,000 after buying an additional 1,270 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Wal-Mart Stores during the second quarter worth $100,000. Americafirst Capital Management LLC acquired a new stake in Wal-Mart Stores during the second quarter worth $106,000. Seven Eight Capital LLC acquired a new stake in Wal-Mart Stores during the second quarter worth $111,000. Finally, Piershale Financial Group Inc. raised its stake 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 worth $117,000 after buying an additional 10 shares during the last quarter. 29.55% of the stock is currently owned by hedge funds and other institutional investors.
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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