Wal-Mart Stores (NYSE:WMT) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $117.00 target price on the retailer’s stock, up from their prior target price of $106.00. Citigroup’s price objective would suggest a potential upside of 19.13% from the company’s previous close.
WMT has been the subject of several other research reports. BMO Capital Markets restated a “market weight” rating on shares of Wal-Mart Stores in a report on Thursday, September 14th. Jefferies Group set a $105.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday, November 14th. Bank of America set a $100.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $84.00 target price (up previously from $80.00) on shares of Wal-Mart Stores in a report on Friday, October 6th. Finally, Barclays set a $100.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Wal-Mart Stores has an average rating of “Hold” and a consensus price target of $95.78.
Wal-Mart Stores (WMT) traded up $0.15 during mid-day trading on Tuesday, reaching $98.21. The company’s stock had a trading volume of 4,873,537 shares, compared to its average volume of 10,750,000. Wal-Mart Stores has a 52 week low of $65.28 and a 52 week high of $100.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.19 and a current ratio of 0.81. The company has a market capitalization of $291,380.00, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 3.61 and a beta of 0.37.
Wal-Mart Stores announced that its board has authorized a stock buyback plan on Tuesday, October 10th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In related news, Director S Robson Walton sold 826,617 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $96.39, for a total value of $79,677,612.63. Following the completion of the transaction, the director now owns 3,345,065 shares of the company’s stock, valued at approximately $322,430,815.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Furner sold 1,200 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $99.29, for a total value of $119,148.00. Following the completion of the transaction, the executive vice president now directly owns 48,757 shares of the company’s stock, valued at approximately $4,841,082.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,421,174 shares of company stock worth $1,366,398,832. Company insiders own 51.39% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Hudock Capital Group LLC grew its holdings in shares of Wal-Mart Stores by 0.4% during the second quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock worth $139,000 after buying an additional 7 shares during the last quarter. Gemmer Asset Management LLC grew its holdings in shares of Wal-Mart Stores by 0.3% during the second quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock worth $224,000 after buying an additional 10 shares during the last quarter. Sterneck Capital Management LLC grew its holdings in shares of Wal-Mart Stores by 0.3% during the first quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock worth $475,000 after buying an additional 22 shares during the last quarter. LLBH Private Wealth Management LLC grew its holdings in shares of Wal-Mart Stores by 0.3% during the second quarter. LLBH Private Wealth Management LLC now owns 7,843 shares of the retailer’s stock worth $594,000 after buying an additional 24 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. boosted its holdings in Wal-Mart Stores by 0.3% in the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 7,654 shares of the retailer’s stock valued at $579,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 30.58% of the company’s stock.
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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.
