Beaton Management Co. Inc. bought a new position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,400 shares of the retailer’s stock, valued at approximately $409,000.
A number of other institutional investors also recently bought and sold shares of WMT. FMR LLC grew its holdings in Wal-Mart Stores by 45.3% in the second quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after purchasing an additional 5,608,785 shares during the period. Alliancebernstein L.P. grew its holdings in Wal-Mart Stores by 42.6% in the second quarter. Alliancebernstein L.P. now owns 5,745,493 shares of the retailer’s stock valued at $434,819,000 after purchasing an additional 1,716,422 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Wal-Mart Stores by 52.9% in the second quarter. Parametric Portfolio Associates LLC now owns 4,883,390 shares of the retailer’s stock valued at $369,565,000 after purchasing an additional 1,689,364 shares during the period. Neuberger Berman Group LLC grew its holdings in Wal-Mart Stores by 100.2% in the second quarter. Neuberger Berman Group LLC now owns 2,646,589 shares of the retailer’s stock valued at $200,294,000 after purchasing an additional 1,324,722 shares during the period. Finally, Fred Alger Management Inc. grew its holdings in Wal-Mart Stores by 4,619.7% in the second quarter. Fred Alger Management Inc. now owns 1,128,064 shares of the retailer’s stock valued at $85,372,000 after purchasing an additional 1,104,163 shares during the period. 30.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director S Robson Walton sold 826,617 shares of Wal-Mart Stores stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $96.39, for a total transaction of $79,677,612.63. Following the transaction, the director now owns 3,345,065 shares in the company, valued at $322,430,815.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John R. Furner sold 1,200 shares of Wal-Mart Stores stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $99.29, for a total value of $119,148.00. Following the transaction, the executive vice president now owns 48,757 shares in the company, valued at approximately $4,841,082.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,421,174 shares of company stock worth $1,366,398,832. 51.39% of the stock is currently owned by company insiders.
Several analysts have commented on the company. UBS reissued a “neutral” rating and issued a $84.00 price objective on shares of Wal-Mart Stores in a report on Sunday, August 20th. Oppenheimer reissued a “buy” rating and issued a $90.00 price objective on shares of Wal-Mart Stores in a report on Friday, August 18th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price objective (up from $92.00) on shares of Wal-Mart Stores in a report on Tuesday. Royal Bank of Canada raised their price objective on Wal-Mart Stores from $76.00 to $77.00 and gave the company an “underperform” rating in a report on Friday, August 18th. Finally, Jefferies Group set a $93.00 price objective on Wal-Mart Stores and gave the company a “buy” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $92.96.
Wal-Mart Stores, Inc. (NYSE WMT) traded up $1.06 during midday trading on Thursday, hitting $97.76. The stock had a trading volume of 7,879,300 shares, compared to its average volume of 8,914,336. The stock has a market capitalization of $288,830.00, a P/E ratio of 22.08, a PEG ratio of 3.56 and a beta of 0.37. Wal-Mart Stores, Inc. has a 1-year low of $65.28 and a 1-year high of $100.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.19 and a current ratio of 0.81.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The firm had revenue of $122.14 billion for the quarter, compared to the consensus estimate of $120.23 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. research analysts forecast that Wal-Mart Stores, Inc. will post 4.43 EPS for the current fiscal year.
Wal-Mart Stores declared that its Board of Directors has approved a share buyback program on Tuesday, October 10th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Wal-Mart Stores Profile
Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.
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