BMO Capital Markets Trims Wal-Mart Stores Inc. (WMT) Target Price to $63.00
Wal-Mart Stores Inc. (NYSE:WMT) had its price target dropped by stock analysts at BMO Capital Markets to $63.00 in a note issued to investors on Tuesday. BMO Capital Markets’ price target would indicate a potential downside of 7.33% from the company’s previous close.
WMT has been the topic of a number of other research reports. Vetr downgraded shares of Wal-Mart Stores from a “buy” rating to a “hold” rating and set a $75.25 price objective on the stock. in a research report 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 report on Tuesday, October 4th. Jefferies Group set a $86.00 target price on shares of Wal-Mart Stores and gave the stock a “buy” rating in a research report on Monday, August 22nd. Macquarie set a $61.00 target price on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a research report on Tuesday, October 4th. Finally, Buckingham Research set a $70.00 target price on shares of Wal-Mart Stores and gave the stock a “hold” rating in a research report on Wednesday, September 28th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $74.93.
Shares of Wal-Mart Stores (NYSE:WMT) traded down 0.56% during mid-day trading on Tuesday, hitting $67.60. 2,374,830 shares of the stock were exchanged. The company has a market cap of $209.10 billion, a P/E ratio of 14.55 and a beta of 0.20. Wal-Mart Stores has a 52-week low of $56.30 and a 52-week high of $75.19. The stock’s 50-day moving average price is $71.63 and its 200-day moving average price is $70.99.
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Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The firm had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that Wal-Mart Stores will post $4.34 earnings per share for the current fiscal year.
In other news, major shareholder Alice L. Walton sold 3,504,756 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $71.37, for a total transaction of $250,134,435.72. Following the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at $481,646,154.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 3,142,846 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $72.41, for a total transaction of $227,573,478.86. Following the sale, the insider now directly owns 6,748,580 shares in the company, valued at approximately $488,664,677.80. The disclosure for this sale can be found here. Insiders own 51.55% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vigilant Capital Management LLC boosted its stake in shares of 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 valued at $100,000 after buying an additional 1,270 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Wal-Mart Stores during the second quarter valued at about $100,000. Americafirst Capital Management LLC acquired a new stake in shares of Wal-Mart Stores during the second quarter valued at about $106,000. Seven Eight Capital LLC acquired a new stake in shares of Wal-Mart Stores during the second quarter valued at about $111,000. Finally, Piershale Financial Group Inc. boosted its stake in shares of Wal-Mart Stores by 0.6% in the second quarter. Piershale Financial Group Inc. now owns 1,607 shares of the retailer’s stock valued at $117,000 after buying an additional 10 shares in the last quarter. 29.55% of the stock is currently owned by institutional investors and hedge funds.
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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