CrestPoint Capital Management LLC decreased its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 40.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 24,200 shares of the retailer’s stock after selling 16,600 shares during the period. Wal-Mart Stores accounts for 0.9% of CrestPoint Capital Management LLC’s investment portfolio, making the stock its 26th largest position. CrestPoint Capital Management LLC’s holdings in Wal-Mart Stores were worth $1,831,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Gemmer Asset Management LLC boosted its position in shares of Wal-Mart Stores by 0.3% in the second quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock valued at $224,000 after buying an additional 10 shares during the period. Asset Planning Services Ltd. raised its stake in shares of Wal-Mart Stores by 0.7% in the first quarter. Asset Planning Services Ltd. now owns 1,511 shares of the retailer’s stock valued at $109,000 after buying an additional 11 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in shares of Wal-Mart Stores by 0.4% in the first quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock valued at $264,000 after buying an additional 15 shares in the last quarter. Alexandria Capital LLC raised its stake in shares of Wal-Mart Stores by 0.9% in the first quarter. Alexandria Capital LLC now owns 2,513 shares of the retailer’s stock valued at $181,000 after buying an additional 22 shares in the last quarter. Finally, Sterneck Capital Management LLC raised its stake in shares of Wal-Mart Stores by 0.3% in the first quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock valued at $475,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 30.09% of the company’s stock.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded down 0.32% on Friday, hitting $80.40. The company had a trading volume of 7,905,495 shares. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $81.99. The firm has a market capitalization of $242.37 billion, a P/E ratio of 18.26 and a beta of 0.29. The firm has a 50 day moving average of $77.30 and a 200-day moving average of $74.05. Wal-Mart Stores also was the recipient of some unusual options trading on Tuesday. Stock investors bought 59,526 call options on the stock. This is an increase of 408% compared to the average daily volume of 11,715 call options.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, beating the consensus estimate of $0.96 by $0.04. Wal-Mart Stores had a return on equity of 16.96% and a net margin of 2.79%. The firm had revenue of $116.53 billion during the quarter, compared to analysts’ expectations of $117.01 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Wal-Mart Stores, Inc. will post $4.36 EPS for the current year.
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Several brokerages have weighed in on WMT. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $74.00 target price on shares of Wal-Mart Stores in a research report on Friday, May 5th. Pacific Crest lowered Wal-Mart Stores to a “hold” rating in a research report on Sunday, April 30th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Wal-Mart Stores in a research report on Saturday, May 13th. UBS AG reaffirmed a “neutral” rating and issued a $80.00 target price (up from $73.00) on shares of Wal-Mart Stores in a research report on Sunday, May 21st. Finally, Stephens raised Wal-Mart Stores from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $78.00 to $91.00 in a report on Friday. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.40.
In related news, insider David Chojnowski sold 5,142 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $79.36, for a total transaction of $408,069.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Cheesewright sold 25,729 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were 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 23,006,720 shares of company stock valued at $1,816,131,604 over the last three months. Insiders own 51.39% of the company’s stock.
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.
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