Telsey Advisory Group Raises Wal-Mart Stores, Inc. (WMT) Price Target to $92.00
Wal-Mart Stores, Inc. (NYSE:WMT) had its price objective boosted by equities research analysts at Telsey Advisory Group from $88.00 to $92.00 in a note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the retailer’s stock. Telsey Advisory Group’s price objective would suggest a potential upside of 9.35% from the company’s current price.
Several other research analysts also recently weighed in on WMT. KeyCorp restated an “overweight” rating and set a $100.00 price objective (up previously from $90.00) on shares of Wal-Mart Stores in a report on Wednesday. J P Morgan Chase & Co restated a “neutral” rating and set a $84.00 price objective (up previously from $80.00) on shares of Wal-Mart Stores in a report on Friday, October 6th. Jefferies Group LLC upped their price objective on shares of Wal-Mart Stores to $97.00 and gave the stock a “buy” rating in a report on Wednesday. MKM Partners restated a “neutral” rating on shares of Wal-Mart Stores in a report on Tuesday, August 15th. Finally, Cowen and Company set a $86.00 price objective on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $82.71.
Wal-Mart Stores (NYSE WMT) opened at 84.13 on Wednesday. The company has a market cap of $251.31 billion, a P/E ratio of 20.21 and a beta of 0.29. The company has a 50-day moving average of $79.46 and a 200-day moving average of $77.32. Wal-Mart Stores has a 52-week low of $65.28 and a 52-week high of $84.88.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The firm had revenue of $123.40 billion for the quarter, compared to the consensus estimate of $121.86 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Wal-Mart Stores will post $4.38 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This news story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/11/telsey-advisory-group-raises-wal-mart-stores-inc-wmt-price-target-to-92-00.html.
In other news, major shareholder Alice L. Walton sold 474,042 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $80.04, for a total value of $37,942,321.68. Following the sale, the insider now directly owns 10,048,580 shares of the company’s stock, valued at $804,288,343.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director S Robson Walton sold 129,628 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $80.44, for a total transaction of $10,427,276.32. Following the completion of the sale, the director now directly owns 3,344,956 shares in the company, valued at $269,068,260.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,924,828 shares of company stock worth $785,676,492. Insiders own 51.39% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Winfield Associates Inc. lifted its holdings 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 worth $104,000 after buying an additional 75 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in shares of 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 worth $108,000 after buying an additional 45 shares in the last quarter. TrimTabs Asset Management LLC lifted its holdings in shares of Wal-Mart Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock worth $106,000 after buying an additional 696 shares in the last quarter. Thompson Davis & CO. Inc. lifted its holdings in shares of Wal-Mart Stores by 456.9% in the second quarter. Thompson Davis & CO. Inc. now owns 1,526 shares of the retailer’s stock worth $115,000 after buying an additional 1,252 shares in the last quarter. Finally, Paragon Capital Management Ltd purchased a new stake in shares of Wal-Mart Stores in the first quarter worth about $201,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.
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.
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.