Investors Sell Shares of Wal-Mart Stores Inc. (WMT) on Strength After Analyst Downgrade
Investors sold shares of Wal-Mart Stores Inc. (NYSE:WMT) on strength during trading hours on Wednesday after BMO Capital Markets lowered their price target on the stock from $67.00 to $63.00. $70.02 million flowed into the stock on the tick-up and $149.78 million flowed out of the stock on the tick-down, for a money net flow of $79.76 million out of the stock. Of all stocks tracked, Wal-Mart Stores had the 4th highest net out-flow for the day. Wal-Mart Stores traded up $0.07 for the day and closed at $67.46
Several other equities research analysts have also issued reports on WMT. Jefferies Group set a $86.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, October 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $77.00 price objective (up previously from $68.00) on shares of Wal-Mart Stores in a research note on Tuesday, August 2nd. Royal Bank Of Canada reduced their price objective on shares of Wal-Mart Stores from $76.00 to $75.00 and set an “underperform” rating for the company in a research note on Friday, October 7th. Buckingham Research reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a research note on Thursday, August 18th. Finally, Vetr lowered shares of Wal-Mart Stores from a “buy” rating to a “hold” rating and set a $76.24 price objective for the company. in a research note on Monday, August 8th. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Wal-Mart Stores currently has an average rating of “Hold” and an average price target of $74.93.
In related news, major shareholder Alice L. Walton sold 3,504,756 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly 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 SEC, which is available at this link. Also, insider Steven P. Whaley sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $71.46, for a total transaction of $78,606.00. Following the sale, the insider now directly owns 29,464 shares of the company’s stock, valued at $2,105,497.44. The disclosure for this sale can be found here. Corporate insiders own 51.55% of the company’s stock.
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Several large investors have recently bought and sold shares of the company. Canandaigua National Bank & Trust Co. increased its stake in Wal-Mart Stores by 10.1% in the third quarter. Canandaigua National Bank & Trust Co. now owns 13,147 shares of the retailer’s stock worth $948,000 after buying an additional 1,205 shares during the period. Prospera Financial Services Inc increased its stake in Wal-Mart Stores by 27.1% in the third quarter. Prospera Financial Services Inc now owns 15,592 shares of the retailer’s stock worth $1,125,000 after buying an additional 3,325 shares during the period. Nexus Investment Management Inc. increased its stake in Wal-Mart Stores by 7.1% in the third quarter. Nexus Investment Management Inc. now owns 207,675 shares of the retailer’s stock worth $14,978,000 after buying an additional 13,700 shares during the period. Atria Investments LLC increased its stake in Wal-Mart Stores by 25.6% in the third quarter. Atria Investments LLC now owns 23,087 shares of the retailer’s stock worth $1,665,000 after buying an additional 4,699 shares during the period. Finally, First National Bank of Omaha increased its stake in Wal-Mart Stores by 4.1% in the third quarter. First National Bank of Omaha now owns 8,050 shares of the retailer’s stock worth $581,000 after buying an additional 318 shares during the period. 29.55% of the stock is owned by institutional investors and hedge funds.
The firm has a 50 day moving average price of $71.48 and a 200-day moving average price of $70.97. The firm has a market capitalization of $208.67 billion, a price-to-earnings ratio of 14.52 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $119.33 billion. During the same period last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts predict that Wal-Mart Stores Inc. will post $4.34 EPS for the current year.
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.
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