Acrospire Investment Management LLC boosted its position in Wal-Mart Stores Inc. (NYSE:WMT) by 271.4% during the second quarter, Holdings Channel reports. The firm owned 2,600 shares of the retailer’s stock after buying an additional 1,900 shares during the period. Acrospire Investment Management LLC’s holdings in Wal-Mart Stores were worth $190,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of WMT. Fisher Asset Management LLC increased its stake in shares of Wal-Mart Stores by 1,671.0% in the second quarter. Fisher Asset Management LLC now owns 4,930,805 shares of the retailer’s stock valued at $365,175,000 after buying an additional 4,652,393 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Wal-Mart Stores during the second quarter valued at $309,966,000. Emerald Acquisition Ltd. bought a new stake in shares of Wal-Mart Stores during the second quarter valued at $260,853,000. State Street Corp increased its stake in shares of Wal-Mart Stores by 2.5% in the first quarter. State Street Corp now owns 71,591,885 shares of the retailer’s stock valued at $4,903,327,000 after buying an additional 1,726,468 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Wal-Mart Stores during the first quarter valued at $85,821,000. Institutional investors own 29.55% of the company’s stock.
Shares of Wal-Mart Stores Inc. (NYSE:WMT) traded down 0.670% during trading on Monday, hitting $71.865. 2,060,164 shares of the company were exchanged. Wal-Mart Stores Inc. has a 12 month low of $56.30 and a 12 month high of $75.19. The stock has a market cap of $222.30 billion, a P/E ratio of 15.471 and a beta of 0.22. The company’s 50-day moving average price is $72.44 and its 200 day moving average price is $70.69.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. The business had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. On average, equities analysts predict that Wal-Mart Stores Inc. will post $4.34 earnings per share for the current fiscal year.
Several brokerages have weighed in on WMT. Buckingham Research reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a research report on Thursday, August 18th. JPMorgan Chase & Co. set a $75.00 price target on Wal-Mart Stores and gave the stock a “neutral” rating in a research report on Friday, August 19th. Morgan Stanley set a $76.00 price target on Wal-Mart Stores and gave the stock a “neutral” rating in a research report on Friday, August 19th. Royal Bank Of Canada increased their price target on Wal-Mart Stores from $73.00 to $76.00 and gave the stock an “underperform” rating in a research report on Friday, August 19th. Finally, Stephens set a $73.00 target price on Wal-Mart Stores and gave the company a “hold” rating in a research report on Friday, August 19th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $74.78.
In other Wal-Mart Stores news, Director S Robson Walton sold 971,842 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $71.29, for a total transaction of $69,282,616.18. Following the transaction, the director now owns 1,987,604 shares of the company’s stock, valued at $141,696,289.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Alice L. Walton sold 3,142,846 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $72.41, for a total transaction of $227,573,478.86. Following the transaction, the insider now directly owns 6,748,580 shares in the company, valued at approximately $488,664,677.80. The disclosure for this sale can be found here. Corporate insiders own 51.55% 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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