Summit Financial Wealth Advisors LLC lifted its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 13.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,445 shares of the retailer’s stock after acquiring an additional 1,204 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Wal-Mart Stores were worth $816,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Voya Investment Management LLC grew its holdings in Wal-Mart Stores by 10.9% in the 2nd quarter. Voya Investment Management LLC now owns 2,983,092 shares of the retailer’s stock valued at $225,760,000 after buying an additional 294,383 shares during the last quarter. Cutter & CO Brokerage Inc. grew its holdings in Wal-Mart Stores by 2.5% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 8,067 shares of the retailer’s stock valued at $611,000 after buying an additional 200 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in Wal-Mart Stores by 23.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 2,095,792 shares of the retailer’s stock valued at $158,610,000 after buying an additional 393,180 shares during the last quarter. Numeric Investors LLC grew its holdings in Wal-Mart Stores by 31.2% in the 2nd quarter. Numeric Investors LLC now owns 1,179,674 shares of the retailer’s stock valued at $89,278,000 after buying an additional 280,430 shares during the last quarter. Finally, R. G. Niederhoffer Capital Management Inc. acquired a new stake in Wal-Mart Stores in the 2nd quarter valued at approximately $363,000. 30.58% of the stock is currently owned by institutional investors and hedge funds.
Wal-Mart Stores, Inc. (NYSE:WMT) opened at $99.67 on Thursday. 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 company has a market capitalization of $295,260.00, a P/E ratio of 26.51, a P/E/G ratio of 3.69 and a beta of 0.37. Wal-Mart Stores, Inc. has a 52-week low of $65.28 and a 52-week high of $102.35.
Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The business had revenue of $122.14 billion during the quarter, compared to the consensus estimate of $120.23 billion. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. Wal-Mart Stores’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. analysts forecast that Wal-Mart Stores, Inc. will post 4.43 earnings per share for the current fiscal year.
Wal-Mart Stores declared that its board has approved a stock buyback 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 generally a sign that the company’s board of directors believes its shares are undervalued.
WMT has been the topic of a number of research analyst reports. Zacks Investment Research lowered Wal-Mart Stores from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Wells Fargo & Co set a $101.00 target price on Wal-Mart Stores and gave the company a “neutral” rating in a report on Wednesday, December 27th. BMO Capital Markets reissued a “market weight” rating on shares of Wal-Mart Stores in a report on Thursday, September 14th. Jefferies Group set a $105.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, Bank of America set a $100.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $97.09.
In related news, insider Gregory S. Foran sold 52,793 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $96.86, for a total transaction of $5,113,529.98. Following the completion of the transaction, the insider now owns 121,457 shares in the company, valued at approximately $11,764,325.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Furner sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $99.29, for a total value of $119,148.00. Following the transaction, the executive vice president now 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. Insiders have sold a total of 12,419,588 shares of company stock valued at $1,207,333,538 in the last 90 days. 51.39% of the stock is owned by corporate insiders.
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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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