Wal-Mart Stores, Inc. (NYSE:WMT) – KeyCorp raised their Q2 2018 earnings estimates for shares of Wal-Mart Stores in a research report issued to clients and investors on Wednesday. KeyCorp analyst E. Yruma now forecasts that the retailer will earn $1.09 per share for the quarter, up from their prior estimate of $1.08. KeyCorp has a “Overweight” rating and a $90.00 price objective on the stock. KeyCorp also issued estimates for Wal-Mart Stores’ FY2018 earnings at $4.38 EPS.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, July 13th. Vetr upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $79.40 price target for the company in a research report on Monday, May 15th. Royal Bank Of Canada restated a “sell” rating and issued a $67.00 price target on shares of Wal-Mart Stores in a research report on Tuesday, May 2nd. BMO Capital Markets upgraded shares of Wal-Mart Stores from an “underperform” rating to a “market perform” rating and upped their price target for the company from $63.00 to $80.00 in a research report on Friday, May 19th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Wal-Mart Stores from a “neutral” rating to a “buy” rating and upped their price target for the company from $78.00 to $84.00 in a research report on Friday, July 14th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Wal-Mart Stores presently has a consensus rating of “Hold” and a consensus price target of $79.40.
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Wal-Mart Stores (WMT) traded up 0.04% during mid-day trading on Friday, reaching $80.69. 5,242,085 shares of the company’s stock traded hands. The company has a 50-day moving average of $77.30 and a 200-day moving average of $74.05. Wal-Mart Stores has a 52-week low of $65.28 and a 52-week high of $81.99. The company has a market capitalization of $243.24 billion, a price-to-earnings ratio of 18.32 and a beta of 0.29. Wal-Mart Stores also was the target of some unusual options trading activity on Tuesday. Stock investors bought 59,526 call options on the stock. This represents an increase of approximately 408% compared to the typical volume of 11,715 call options.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.04. The firm had revenue of $116.53 billion during the quarter, compared to analysts’ expectations of $117.01 billion. Wal-Mart Stores had a net margin of 2.79% and a return on equity of 16.96%. Wal-Mart Stores’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS.
A number of hedge funds have recently modified their holdings of WMT. Winfield Associates Inc. increased its stake in shares of Wal-Mart Stores by 5.8% in the second quarter. Winfield Associates Inc. now owns 1,373 shares of the retailer’s stock worth $104,000 after buying an additional 75 shares during the period. TrimTabs Asset Management LLC increased its position in Wal-Mart Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock worth $106,000 after buying an additional 696 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Wal-Mart Stores by 3.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,429 shares of the retailer’s stock worth $108,000 after buying an additional 45 shares during the last quarter. Asset Planning Services Ltd. increased its position in Wal-Mart Stores by 0.7% in the first quarter. Asset Planning Services Ltd. now owns 1,511 shares of the retailer’s stock worth $109,000 after buying an additional 11 shares during the last quarter. Finally, Thompson Davis & CO. Inc. increased its position in Wal-Mart Stores by 456.9% in the second quarter. Thompson Davis & CO. Inc. now owns 1,526 shares of the retailer’s stock worth $115,000 after buying an additional 1,252 shares during the last quarter. 30.09% of the stock is owned by hedge funds and other institutional investors.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 2,476,374 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $78.32, for a total value of $193,949,611.68. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $528,548,785.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 2,576,324 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $78.65, for a total transaction of $202,627,882.60. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $530,775,817. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,006,720 shares of company stock valued at $1,816,131,604. 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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