Wal-Mart Stores Inc. (WMT) Rating Reiterated by RBC Capital Markets
Wal-Mart Stores Inc. (NYSE:WMT)‘s stock had its “underperform” rating reaffirmed by stock analysts at RBC Capital Markets in a report released on Saturday. They presently have a $75.00 target price on the retailer’s stock, down from their prior target price of $76.00. RBC Capital Markets’ price objective points to a potential upside of 9.17% from the company’s previous close.
WMT has been the subject of several other reports. Jefferies Group set a $86.00 price target on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $77.00 target price (up from $68.00) on shares of Wal-Mart Stores in a report on Tuesday, August 2nd. Royal Bank Of Canada dropped their target price on shares of Wal-Mart Stores from $76.00 to $75.00 and set an “underperform” rating for the company in a report on Friday. Buckingham Research reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a report on Thursday, August 18th. Finally, Vetr cut shares of Wal-Mart Stores from a “buy” rating to a “hold” rating and set a $76.24 target price for the company. in a report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $75.56.
Shares of Wal-Mart Stores (NYSE:WMT) opened at 68.70 on Friday. Wal-Mart Stores has a 52-week low of $56.30 and a 52-week high of $75.19. The stock has a market cap of $212.51 billion, a price-to-earnings ratio of 14.79 and a beta of 0.20. The stock’s 50 day moving average is $71.77 and its 200 day moving average is $70.95.
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Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. The firm earned $120.90 billion during 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 firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. On average, equities analysts expect that Wal-Mart Stores will post $4.34 earnings per share for the current fiscal year.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 2,100,000 shares of the business’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 sale, the insider now directly owns 6,748,580 shares in the company, valued at approximately $482,118,555.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jim C. Walton sold 3,502,398 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $73.02, for a total transaction of $255,745,101.96. Following the sale, the insider now owns 10,507,127 shares in the company, valued at $767,230,413.54. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in WMT. State Street Corp increased its stake in 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 during the period. BlackRock Fund Advisors increased its stake in Wal-Mart Stores by 1.6% in the second quarter. BlackRock Fund Advisors now owns 19,309,257 shares of the retailer’s stock worth $1,409,962,000 after buying an additional 297,217 shares during the last quarter. Geode Capital Management LLC increased its stake in Wal-Mart Stores by 2.1% in the first quarter. Geode Capital Management LLC now owns 13,570,247 shares of the retailer’s stock worth $927,651,000 after buying an additional 284,071 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Wal-Mart Stores by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 8,319,158 shares of the retailer’s stock worth $607,461,000 after buying an additional 389,425 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Wal-Mart Stores by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 8,146,797 shares of the retailer’s stock worth $594,878,000 after buying an additional 629,728 shares during 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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