Jefferies Group LLC Reaffirms “Buy” Rating for Wal-Mart Stores, Inc. (WMT)
Wal-Mart Stores, Inc. (NYSE:WMT)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a report issued on Thursday. They currently have a $75.54 price target on the retailer’s stock, down from their previous price target of $88.00. Jefferies Group LLC’s price target suggests a potential downside of 0.92% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Cowen and Company reissued an “outperform” rating and set a $86.00 target price (up previously from $83.00) on shares of Wal-Mart Stores in a research report on Monday, June 5th. Vetr lowered Wal-Mart Stores from a “buy” rating to a “hold” rating and set a $82.17 target price on the stock. in a research report on Thursday, June 1st. Wells Fargo & Company reissued a “hold” rating on shares of Wal-Mart Stores in a research report on Sunday, June 4th. Deutsche Bank AG reissued a “hold” rating and set a $81.00 target price on shares of Wal-Mart Stores in a research report on Tuesday, June 13th. Finally, Credit Suisse Group reissued a “hold” rating on shares of Wal-Mart Stores in a research report on Sunday, June 11th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.04.
Wal-Mart Stores (WMT) opened at 75.70 on Thursday. The stock’s 50 day moving average is $77.62 and its 200 day moving average is $72.14. The firm has a market cap of $228.20 billion, a P/E ratio of 17.19 and a beta of 0.30. Wal-Mart Stores has a 12-month low of $65.28 and a 12-month high of $80.47. Wal-Mart Stores also was the target of some unusual options trading on Monday. Investors purchased 2,571 put options on the stock. This represents an increase of approximately 166% compared to the typical volume of 966 put options.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, May 18th. The retailer reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $116.53 billion during the quarter, compared to analysts’ expectations of $117.01 billion. Wal-Mart Stores had a return on equity of 16.96% and a net margin of 2.79%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts expect that Wal-Mart Stores will post $4.36 EPS for the current year.
In related news, Director S Robson Walton sold 1,321,340 shares of Wal-Mart Stores stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $78.61, for a total value of $103,870,537.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jim C. Walton sold 3,278,735 shares of Wal-Mart Stores stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $79.00, for a total value of $259,020,065.00. Following the completion of the sale, the insider now owns 10,507,224 shares in the company, valued at $830,070,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,980,991 shares of company stock worth $1,814,159,476. Company insiders own 51.39% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Fred Alger Management Inc. increased its stake in Wal-Mart Stores by 2.1% in the fourth quarter. Fred Alger Management Inc. now owns 29,172 shares of the retailer’s stock worth $2,016,000 after buying an additional 599 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in Wal-Mart Stores by 4.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 809,413 shares of the retailer’s stock worth $58,342,000 after buying an additional 31,436 shares during the last quarter. Cohen Lawrence B increased its stake in Wal-Mart Stores by 0.4% in the first quarter. Cohen Lawrence B now owns 6,050 shares of the retailer’s stock worth $436,000 after buying an additional 25 shares during the last quarter. Teachers Advisors LLC increased its stake in Wal-Mart Stores by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 3,251,918 shares of the retailer’s stock worth $224,773,000 after buying an additional 35,845 shares during the last quarter. Finally, Highfields Capital Management LP purchased a new stake in Wal-Mart Stores during the fourth quarter worth approximately $69,120,000. Hedge funds and other institutional investors own 30.14% of the company’s stock.
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 operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.
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