Wal-Mart Stores Inc. (WMT) Trading Down 1.2% on Analyst Downgrade
Wal-Mart Stores Inc. (NYSE:WMT) fell 1.2% during trading on Monday after Royal Bank Of Canada lowered their price target on the stock from $76.00 to $75.00. Royal Bank Of Canada currently has an underperform rating on the stock. Wal-Mart Stores traded as low as $67.75 and last traded at $67.90, with a volume of 4,902,046 shares traded. The stock had previously closed at $68.70.
A number of other equities research analysts have also commented on the stock. Telsey Advisory Group decreased their price objective on shares of Wal-Mart Stores from $78.00 to $76.00 and set a “market perform” rating on the stock in a report on Friday. Vetr raised shares of Wal-Mart Stores from a “buy” rating to a “strong-buy” rating and set a $77.94 price objective on the stock in a report on Thursday. Goldman Sachs Group Inc. set a $73.00 price objective on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a report on Wednesday, October 5th. Credit Suisse Group AG restated an “outperform” rating and set a $80.00 target price on shares of Wal-Mart Stores in a research report on Wednesday, October 5th. Finally, Jefferies Group set a $86.00 target price on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Tuesday, October 4th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $75.29.
In other news, major shareholder Alice L. Walton sold 3,504,756 shares of Wal-Mart Stores stock in a transaction on Monday, August 29th. The stock was sold at an average price of $71.37, for a total transaction of $250,134,435.72. Following the completion of the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at $481,646,154.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 2,100,000 shares of Wal-Mart Stores stock in a transaction on Friday, September 9th. The stock was sold at an average price of $71.44, for a total value of $150,024,000.00. Following the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $482,118,555.20. The disclosure for this sale can be found here. Insiders own 51.55% of the company’s stock.
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/2016/10/10/wal-mart-stores-inc-wmt-trading-down-1-2-on-analyst-downgrade.html
Large investors have recently bought and sold shares of the company. Vigilant Capital Management LLC increased its stake 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 in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Wal-Mart Stores during the second quarter worth approximately $100,000. Americafirst Capital Management LLC bought a new position in Wal-Mart Stores during the second quarter worth approximately $106,000. Seven Eight Capital LLC bought a new position in Wal-Mart Stores during the second quarter worth approximately $111,000. Finally, Piershale Financial Group Inc. increased 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 period. 29.55% of the stock is owned by institutional investors.
The company has a market capitalization of $210.00 billion, a price-to-earnings ratio of 14.62 and a beta of 0.20. The company’s 50-day moving average price is $71.77 and its 200-day moving average price is $70.95.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The business earned $120.90 billion during the quarter, compared to analyst estimates of $119.33 billion. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. Wal-Mart Stores’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. On average, analysts expect that Wal-Mart Stores Inc. will post $4.34 EPS for the current year.
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.
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.