Summit Financial Wealth Advisors LLC increased its position in Wal-Mart Stores, Inc. (NYSE:WMT) by 13.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,445 shares of the retailer’s stock after purchasing an additional 1,204 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Wal-Mart Stores were worth $816,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Voya Investment Management LLC raised its holdings in shares of Wal-Mart Stores by 10.9% during the second quarter. Voya Investment Management LLC now owns 2,983,092 shares of the retailer’s stock worth $225,760,000 after purchasing an additional 294,383 shares during the period. Cutter & CO Brokerage Inc. increased its holdings in shares of Wal-Mart Stores by 2.5% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 8,067 shares of the retailer’s stock worth $611,000 after acquiring an additional 200 shares during the period. State of Wisconsin Investment Board increased its holdings in shares of 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 worth $158,610,000 after acquiring an additional 393,180 shares during the period. Numeric Investors LLC increased its holdings in shares of Wal-Mart Stores by 31.2% in the 2nd quarter. Numeric Investors LLC now owns 1,179,674 shares of the retailer’s stock worth $89,278,000 after acquiring an additional 280,430 shares during the period. Finally, R. G. Niederhoffer Capital Management Inc. acquired a new stake in shares of Wal-Mart Stores in the 2nd quarter worth about $363,000. Institutional investors and hedge funds own 30.58% of the company’s stock.
Several equities analysts have commented on WMT shares. Goldman Sachs Group set a $87.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Tuesday, October 3rd. Robert W. Baird set a $90.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Tuesday, October 3rd. JPMorgan 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 research report on Friday, October 6th. Oppenheimer started coverage on shares of Wal-Mart Stores in a research report on Tuesday, October 10th. They set a “buy” rating and a $90.00 price objective for the company. Finally, Bank of America set a $100.00 target price on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday, October 10th. Eighteen equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $99.44.
In related news, EVP John R. Furner sold 1,200 shares of Wal-Mart Stores 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 $4,841,082.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory S. Foran sold 52,793 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $96.86, for a total value of $5,113,529.98. Following the sale, the insider now directly owns 121,457 shares of the company’s stock, valued at $11,764,325.02. The disclosure for this sale can be found here. Insiders sold a total of 12,419,588 shares of company stock worth $1,207,333,538 in the last 90 days. 51.39% of the stock is owned by corporate insiders.
Wal-Mart Stores, Inc. (NYSE:WMT) traded up $2.01 during trading hours on Thursday, hitting $102.70. 8,681,900 shares of the stock were exchanged, compared to its average volume of 7,872,400. Wal-Mart Stores, Inc. has a 12 month low of $65.28 and a 12 month high of $102.94. The company has a market capitalization of $307,380.00, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 3.98 and a beta of 0.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.19 and a current ratio of 0.81.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings results on Thursday, November 16th. The retailer reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. Wal-Mart Stores had a net margin of 2.31% and a return on equity of 16.92%. The firm had revenue of $122.14 billion for the quarter, compared to the consensus estimate of $120.23 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. research analysts expect that Wal-Mart Stores, Inc. will post 4.44 EPS for the current fiscal year.
Wal-Mart Stores announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 10th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Wal-Mart Stores 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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