Wal-Mart Stores (NYSE:WMT) had its price target boosted by investment analysts at Barclays to $120.00 in a report released on Friday. The firm currently has an “overweight” rating on the retailer’s stock. Barclays’ target price would suggest a potential upside of 10.71% from the stock’s previous close.
Several other research firms have also commented on WMT. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a report on Tuesday. Zacks Investment Research lowered shares of Wal-Mart Stores from a “buy” rating to a “hold” rating in a report on Sunday, January 21st. Macquarie set a $85.00 price target on shares of Wal-Mart Stores and gave the company a “neutral” rating in a report on Thursday, January 18th. Goldman Sachs Group raised shares of Wal-Mart Stores from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Finally, Stephens set a $117.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Tuesday, January 16th. Eighteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $99.80.
Wal-Mart Stores (WMT) traded up $1.79 during trading hours on Friday, reaching $108.39. 6,790,000 shares of the company’s stock traded hands, compared to its average volume of 8,220,000. Wal-Mart Stores has a one year low of $65.28 and a one year high of $108.41. 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 stock has a market capitalization of $321,090.00, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37.
Wal-Mart Stores declared that its board has authorized a stock repurchase program on Tuesday, October 10th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Jacqueline P. Canney sold 2,065 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $96.99, for a total transaction of $200,284.35. Following the completion of the sale, the insider now owns 19,060 shares of the company’s stock, valued at approximately $1,848,629.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP David Chojnowski sold 684 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $99.29, for a total transaction of $67,914.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,419,588 shares of company stock valued at $1,207,333,538. Insiders own 51.39% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerebellum GP LLC purchased a new stake in shares of Wal-Mart Stores in the 4th quarter valued at approximately $127,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in shares of Wal-Mart Stores by 3.3% in the 2nd 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 during the period. Thompson Davis & CO. Inc. grew its stake in shares of Wal-Mart Stores by 456.9% in the 2nd 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 during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Wal-Mart Stores in the 4th quarter valued at approximately $181,000. Finally, Hudock Capital Group LLC grew its stake in shares of Wal-Mart Stores by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock valued at $139,000 after buying an additional 7 shares during the period. 30.53% of the stock is owned by institutional investors.
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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.
