Wal-Mart Stores, Inc. (NYSE:WMT) has been given a $74.00 target price by equities researchers at Royal Bank Of Canada in a report released on Monday, July 24th. The brokerage presently has a “sell” rating on the retailer’s stock. Royal Bank Of Canada’s target price would indicate a potential downside of 6.70% from the company’s previous close.
WMT has been the subject of several other reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $86.00 price target on shares of Wal-Mart Stores in a report on Friday, April 7th. Vetr upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $75.31 price objective on the stock in a research report on Monday, March 27th. Zacks Investment Research upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Tuesday, April 25th. Gordon Haskett assumed coverage on shares of Wal-Mart Stores in a research report on Tuesday, May 9th. They set a “buy” rating and a $90.00 price target on the stock. Finally, Sanford C. Bernstein restated a “buy” rating on shares of Wal-Mart Stores in a research report on Saturday, May 13th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Wal-Mart Stores currently has a consensus rating of “Hold” and an average price target of $80.01.
Shares of Wal-Mart Stores (NYSE:WMT) traded down 0.49% during mid-day trading on Monday, hitting $79.31. The company had a trading volume of 9,752,957 shares. Wal-Mart Stores has a 1-year low of $65.28 and a 1-year high of $81.99. The company has a market capitalization of $239.08 billion, a price-to-earnings ratio of 18.01 and a beta of 0.29. The company has a 50-day moving average price of $78.09 and a 200-day moving average price of $74.64.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a net margin of 2.79% and a return on equity of 16.96%. The firm had revenue of $123.40 billion for the quarter, compared to the consensus estimate of $121.86 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Wal-Mart Stores will post $4.38 EPS for the current year.
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In related news, major shareholder Jim C. Walton sold 3,278,735 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $79.00, for a total transaction of $259,020,065.00. Following the completion of the sale, the insider now owns 10,507,224 shares in the company, valued at $830,070,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Cheesewright sold 25,729 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $76.65, for a total value of $1,972,127.85. The disclosure for this sale can be found here. Insiders have sold 23,001,578 shares of company stock worth $1,815,723,535 over the last ninety days. 51.39% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in WMT. Denver Investment Advisors LLC increased its position in shares of Wal-Mart Stores by 42.2% in the fourth quarter. Denver Investment Advisors LLC now owns 32,963 shares of the retailer’s stock worth $2,278,000 after buying an additional 9,777 shares during the period. HCR Wealth Advisors acquired a new position in shares of Wal-Mart Stores during the fourth quarter worth about $1,286,000. AQR Capital Management LLC increased its position in shares of Wal-Mart Stores by 23.7% in the fourth quarter. AQR Capital Management LLC now owns 8,810,593 shares of the retailer’s stock worth $608,988,000 after buying an additional 1,689,794 shares during the period. Guggenheim Capital LLC increased its position in shares of Wal-Mart Stores by 5.2% in the fourth quarter. Guggenheim Capital LLC now owns 1,386,911 shares of the retailer’s stock worth $95,863,000 after buying an additional 68,392 shares during the period. Finally, GLG LLC increased its position in shares of Wal-Mart Stores by 6.8% in the fourth quarter. GLG LLC now owns 114,964 shares of the retailer’s stock worth $7,946,000 after buying an additional 7,308 shares during the period. Hedge funds and other institutional investors own 30.00% of the company’s stock.
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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