Parkside Investments LLC purchased a new position in Wal-Mart Stores, Inc. (NYSE:WMT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,400 shares of the retailer’s stock, valued at approximately $344,000.
A number of other hedge funds have also modified their holdings of WMT. Voya Investment Management LLC grew its position in shares of Wal-Mart Stores by 10.9% during the 2nd quarter. Voya Investment Management LLC now owns 2,983,092 shares of the retailer’s stock valued at $225,760,000 after purchasing an additional 294,383 shares in the last quarter. Cutter & CO Brokerage Inc. grew its position in Wal-Mart Stores by 2.5% in the second quarter. Cutter & CO Brokerage Inc. now owns 8,067 shares of the retailer’s stock worth $611,000 after acquiring an additional 200 shares in the last quarter. State of Wisconsin Investment Board grew its position in Wal-Mart Stores by 23.1% in the second quarter. State of Wisconsin Investment Board now owns 2,095,792 shares of the retailer’s stock worth $158,610,000 after acquiring an additional 393,180 shares in the last quarter. Numeric Investors LLC grew its position in Wal-Mart Stores by 31.2% in the second quarter. Numeric Investors LLC now owns 1,179,674 shares of the retailer’s stock worth $89,278,000 after acquiring an additional 280,430 shares in the last quarter. Finally, R. G. Niederhoffer Capital Management Inc. purchased a new stake in Wal-Mart Stores during the second quarter valued at about $363,000. 30.58% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director S Robson Walton sold 826,617 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $96.39, for a total transaction of $79,677,612.63. Following the sale, the director now directly owns 3,345,065 shares of the company’s stock, valued at $322,430,815.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 2,065 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $96.99, for a total transaction of $200,284.35. Following the sale, the insider now directly owns 19,060 shares in the company, valued at $1,848,629.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,419,588 shares of company stock worth $1,207,333,538. 51.39% of the stock is owned by insiders.
Several brokerages have recently commented on WMT. Goldman Sachs Group set a $87.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Robert W. Baird set a $90.00 price target on shares of Wal-Mart Stores and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $84.00 price target (up from $80.00) on shares of Wal-Mart Stores in a research note on Friday, October 6th. Oppenheimer assumed coverage on shares of Wal-Mart Stores in a report on Tuesday, October 10th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Bank of America set a $100.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Tuesday, October 10th. Eighteen equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $99.44.
Shares of Wal-Mart Stores, Inc. (NYSE WMT) opened at $104.30 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.81 and a quick ratio of 0.19. The company has a market cap of $308,980.00, a PE ratio of 27.74, a PEG ratio of 4.06 and a beta of 0.37. Wal-Mart Stores, Inc. has a twelve month low of $65.28 and a twelve month high of $104.94.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $122.14 billion during the quarter, compared to analyst estimates of $120.23 billion. Wal-Mart Stores had a net margin of 2.31% and a return on equity of 16.92%. Wal-Mart Stores’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. sell-side analysts expect that Wal-Mart Stores, Inc. will post 4.44 earnings per share for the current year.
Wal-Mart Stores announced that its Board of Directors has initiated a share buyback program on Tuesday, October 10th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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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 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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