Credit Suisse Group Reiterates “Hold” Rating for Wal-Mart Stores, Inc. (WMT)
Wal-Mart Stores, Inc. (NYSE:WMT)‘s stock had its “hold” rating reissued by Credit Suisse Group in a research report issued on Friday. They currently have a $84.00 price objective on the retailer’s stock. Credit Suisse Group’s target price would indicate a potential upside of 5.91% from the company’s previous close.
WMT has been the topic of several other research reports. Jefferies Group LLC set a $88.00 target price on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Friday, August 11th. Cowen and Company set a $86.00 target price on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Monday, August 7th. Gordon Haskett initiated coverage on shares of Wal-Mart Stores in a report on Tuesday, May 9th. They issued a “buy” rating and a $90.00 target price on the stock. BidaskClub raised shares of Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) set a $84.00 target price on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $80.13.
Shares of Wal-Mart Stores (NYSE WMT) opened at 79.31 on Friday. The stock has a market capitalization of $239.08 billion, a price-to-earnings ratio of 18.01 and a beta of 0.29. Wal-Mart Stores has a one year low of $65.28 and a one year high of $81.99. The stock’s 50 day moving average is $78.09 and its 200-day moving average is $74.64.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The business had revenue of $123.40 billion for the quarter, compared to the consensus estimate of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. On average, equities research analysts predict that Wal-Mart Stores will post $4.38 EPS for the current fiscal year.
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In related news, insider David Cheesewright sold 25,729 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $76.65, for a total transaction of $1,972,127.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Robson Walton sold 1,321,340 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $78.61, for a total transaction of $103,870,537.40. The disclosure for this sale can be found here. Insiders have sold 23,001,578 shares of company stock valued at $1,815,723,535 in the last ninety days. 51.39% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of WMT. Winfield Associates Inc. raised its position in shares of Wal-Mart Stores by 5.8% in the second quarter. Winfield Associates Inc. now owns 1,373 shares of the retailer’s stock valued at $104,000 after buying an additional 75 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Wal-Mart Stores by 3.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,429 shares of the retailer’s stock valued at $108,000 after buying an additional 45 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in Wal-Mart Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock valued at $106,000 after buying an additional 696 shares in the last quarter. Asset Planning Services Ltd. increased its stake in Wal-Mart Stores by 0.7% in the first quarter. Asset Planning Services Ltd. now owns 1,511 shares of the retailer’s stock valued at $109,000 after buying an additional 11 shares in the last quarter. Finally, Thompson Davis & CO. Inc. increased its stake in Wal-Mart Stores by 456.9% in the second quarter. Thompson Davis & CO. Inc. now owns 1,526 shares of the retailer’s stock valued at $115,000 after buying an additional 1,252 shares in the last quarter. 30.00% of the stock is owned by hedge funds and other institutional investors.
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 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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