Wal-Mart Stores Inc. (WMT) Given a $90.00 Price Target at KeyCorp
Wal-Mart Stores Inc. (NYSE:WMT) received a $90.00 price objective from equities research analysts at KeyCorp in a research note issued on Friday. The firm currently has a a “buy” rating on the retailer’s stock. KeyCorp’s price objective suggests a potential upside of 31.00% from the company’s previous close.
WMT has been the subject of a number of other reports. Vetr cut shares of Wal-Mart Stores from a “buy” rating to a “hold” rating and set a $75.25 price objective for the company. in a research note on Thursday, September 15th. JPMorgan Chase & Co. set a $75.00 price objective on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Group set a $86.00 price objective on shares of Wal-Mart Stores and gave the stock a “buy” rating in a research note on Monday, August 22nd. Buckingham Research set a $70.00 price objective on shares of Wal-Mart Stores and gave the stock a “hold” rating in a research note on Wednesday, September 28th. Finally, Macquarie set a $61.00 price objective on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $75.59.
Wal-Mart Stores (NYSE:WMT) traded down 0.95% during midday trading on Friday, reaching $68.70. 12,648,139 shares of the company traded hands. Wal-Mart Stores has a 12 month low of $56.30 and a 12 month high of $75.19. The firm has a 50 day moving average of $71.93 and a 200-day moving average of $70.94. The stock has a market capitalization of $212.51 billion, a price-to-earnings ratio of 14.79 and a beta of 0.20.
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Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The company earned $120.90 billion during 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 revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. Analysts forecast that Wal-Mart Stores will post $4.34 EPS for the current fiscal year.
In other Wal-Mart Stores news, major shareholder Jim C. Walton sold 3,502,398 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $73.02, for a total transaction of $255,745,101.96. Following the transaction, the insider now directly owns 10,507,127 shares in the company, valued at approximately $767,230,413.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Alice L. Walton sold 2,100,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $71.44, for a total transaction of $150,024,000.00. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at $482,118,555.20. The disclosure for this sale can be found here. Company insiders own 51.55% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WMT. Fisher Asset Management LLC increased its position in 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 worth $365,175,000 after buying an additional 4,652,393 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Wal-Mart Stores during the second quarter worth $309,966,000. Emerald Acquisition Ltd. purchased a new stake in shares of Wal-Mart Stores during the second quarter worth $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 worth $4,903,327,000 after buying an additional 1,726,468 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Wal-Mart Stores by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,418,449 shares of the retailer’s stock worth $541,665,000 after buying an additional 1,449,033 shares in the last quarter. Institutional investors own 29.55% of the company’s stock.
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.
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