Vetr upgraded shares of Wal-Mart Stores Inc. (NYSE:WMT) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday. Vetr currently has $77.94 target price on the retailer’s stock.
A number of other research firms have also issued reports on WMT. KeyCorp initiated coverage on Wal-Mart Stores in a report on Thursday, September 29th. They issued an overweight rating and a $90.00 target price on the stock. Credit Suisse Group AG initiated coverage on Wal-Mart Stores in a report on Friday, September 16th. They set an outperform rating and a $80.00 price objective on the stock. Zacks Investment Research lowered Wal-Mart Stores from a buy rating to a hold rating in a report on Wednesday, August 24th. Guggenheim initiated coverage on Wal-Mart Stores in a report on Friday, September 30th. They set a buy rating and a $82.00 price objective on the stock. Finally, Royal Bank Of Canada lifted their price objective on Wal-Mart Stores from $73.00 to $76.00 and gave the stock an underperform rating in a report on Friday, August 19th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Wal-Mart Stores currently has a consensus rating of Hold and an average price target of $75.46.
Shares of Wal-Mart Stores (NYSE:WMT) traded down 1.2134% during midday trading on Thursday, reaching $68.5184. The company’s stock had a trading volume of 7,411,809 shares. Wal-Mart Stores has a 52-week low of $56.30 and a 52-week high of $75.19. The stock has a 50 day moving average price of $71.93 and a 200-day moving average price of $70.94. The company has a market capitalization of $211.95 billion, a price-to-earnings ratio of 14.7510 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $120.90 billion for the quarter, compared to analyst estimates of $119.33 billion. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. Equities research analysts expect that Wal-Mart Stores will post $4.34 EPS for the current year.
In other Wal-Mart Stores news, insider Steven P. Whaley sold 1,100 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $71.46, for a total transaction of $78,606.00. Following the completion of the transaction, the insider now owns 29,464 shares of the company’s stock, valued at $2,105,497.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Alice L. Walton sold 3,504,756 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $481,646,154.60. The disclosure for this sale can be found here. Company insiders own 51.55% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vigilant Capital Management LLC raised its position 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 valued at $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 position in shares of Wal-Mart Stores during the second quarter valued at $100,000. Americafirst Capital Management LLC bought a new position in shares of Wal-Mart Stores during the second quarter valued at $106,000. Seven Eight Capital LLC bought a new position in shares of Wal-Mart Stores during the second quarter valued at $111,000. Finally, Piershale Financial Group Inc. raised its position 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 valued at $117,000 after buying an additional 10 shares during the period. 29.55% of the stock is owned by 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.
To view Vetr’s full report, visit Vetr’s official website.
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