Wal-Mart Stores (NYSE:WMT) had its target price boosted by analysts at Royal Bank Of Canada from $83.00 to $92.00 in a research report issued to clients and investors on Friday, November 17th, Marketbeat reports. The brokerage currently has an “underperform” rating on the retailer’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 5.16% from the company’s previous close.
Other analysts also recently issued reports about the company. Citigroup raised their target price on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Wal-Mart Stores in a research note on Thursday, August 17th. Credit Suisse Group reiterated a “hold” rating and set a $84.00 price target on shares of Wal-Mart Stores in a report on Friday, August 18th. Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday, July 27th. Finally, Oppenheimer reiterated a “buy” rating and set a $90.00 price target on shares of Wal-Mart Stores in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Wal-Mart Stores presently has an average rating of “Hold” and a consensus target price of $92.68.
Wal-Mart Stores (NYSE:WMT) traded down $0.34 during midday trading on Friday, reaching $97.01. The company had a trading volume of 8,955,506 shares, compared to its average volume of 8,949,989. Wal-Mart Stores has a 1 year low of $65.28 and a 1 year high of $100.13. The company has a current ratio of 0.81, a quick ratio of 0.19 and a debt-to-equity ratio of 0.52. The firm has a market cap of $289,790.00, a P/E ratio of 22.23, a P/E/G ratio of 3.59 and a beta of 0.37.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, November 16th. The retailer reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The business had revenue of $122.14 billion during the quarter, compared to the consensus estimate of $120.23 billion. During the same period last year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts predict that Wal-Mart Stores will post 4.43 EPS for the current fiscal year.
Wal-Mart Stores declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 10th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, Director S Robson Walton sold 826,617 shares of Wal-Mart Stores 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 in the company, valued at approximately $322,430,815.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alice L. Walton sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $79.47, for a total value of $158,940,000.00. Following the sale, the insider now directly owns 6,748,580 shares in the company, valued at approximately $536,309,652.60. The disclosure for this sale can be found here. Insiders sold a total of 14,206,814 shares of company stock valued at $1,315,588,329 in the last quarter. Company insiders own 51.39% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of WMT. Ropes Wealth Advisors LLC increased its position in Wal-Mart Stores by 4.6% during the first quarter. Ropes Wealth Advisors LLC now owns 23,573 shares of the retailer’s stock worth $1,699,000 after buying an additional 1,039 shares during the period. Security National Bank of SO Dak increased its position in Wal-Mart Stores by 2.6% during the first quarter. Security National Bank of SO Dak now owns 15,305 shares of the retailer’s stock worth $1,103,000 after buying an additional 386 shares during the period. Cutter & CO Brokerage Inc. increased its position in Wal-Mart Stores by 2.5% during the second quarter. Cutter & CO Brokerage Inc. now owns 8,067 shares of the retailer’s stock worth $611,000 after buying an additional 200 shares during the period. First Personal Financial Services increased its position in Wal-Mart Stores by 5.0% during the first quarter. First Personal Financial Services now owns 72,719 shares of the retailer’s stock worth $5,242,000 after buying an additional 3,434 shares during the period. Finally, State of Wisconsin Investment Board increased its position in Wal-Mart Stores by 23.1% during the second quarter. State of Wisconsin Investment Board now owns 2,095,792 shares of the retailer’s stock worth $158,610,000 after buying an additional 393,180 shares during the period. 30.40% of the stock is currently owned by institutional investors and hedge funds.
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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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