Wal-Mart Stores Inc. (WMT) PT Set at $74.00 by Morgan Stanley
Wal-Mart Stores Inc. (NYSE:WMT) has been assigned a $74.00 target price by stock analysts at Morgan Stanley in a note issued to investors on Friday. The brokerage currently has a a “hold” rating on the retailer’s stock. Morgan Stanley’s price objective points to a potential upside of 6.69% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Jefferies Group reissued a “buy” rating and set a $86.00 price objective (up previously from $85.00) on shares of Wal-Mart Stores in a research report on Monday, August 15th. Nomura reissued a “buy” rating and set a $81.00 price objective on shares of Wal-Mart Stores in a research report on Thursday, June 23rd. Vetr raised shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $73.65 price objective on the stock in a research report on Monday, June 13th. Finally, Guggenheim started coverage on shares of Wal-Mart Stores in a research report on Friday, September 30th. They set a “buy” rating and a $82.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $75.59.
Wal-Mart Stores (NYSE:WMT) traded down 0.79% during trading on Friday, reaching $68.81. The company had a trading volume of 10,039,965 shares. The company has a market capitalization of $212.85 billion, a price-to-earnings ratio of 14.81 and a beta of 0.20. The company has a 50-day moving average price of $71.93 and a 200 day moving average price of $70.94. Wal-Mart Stores has a one year low of $56.30 and a one year high of $75.19.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/morgan-stanley-analysts-give-wal-mart-stores-inc-wmt-a-74-00-price-target.html
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $120.90 billion for the quarter, compared to analysts’ expectations of $119.33 billion. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. Analysts expect that Wal-Mart Stores will post $4.34 earnings per share for the current year.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 3,142,846 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $72.41, for a total value of $227,573,478.86. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at $488,664,677.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven P. Whaley sold 1,100 shares of the business’s 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 in the company, valued at approximately $2,105,497.44. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in WMT. Vigilant Capital Management LLC boosted its position 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 purchased a new position in Wal-Mart Stores during the second quarter worth about $100,000. Americafirst Capital Management LLC purchased a new position in Wal-Mart Stores during the second quarter worth about $106,000. Seven Eight Capital LLC purchased a new position in Wal-Mart Stores during the second quarter worth about $111,000. Finally, Piershale Financial Group Inc. boosted its position 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. Hedge funds and other institutional investors own 29.55% 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.
Receive News & Ratings for Wal-Mart Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wal-Mart Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.