Wal-Mart Stores, Inc. (WMT) Shares Gap Up Following Analyst Upgrade

Wal-Mart Stores, Inc. (NYSE:WMT) gapped up prior to trading on Tuesday after Bank of America Corporation raised their price target on the stock from $90.00 to $100.00. The stock had previously closed at $78.38, but opened at $80.53. Bank of America Corporation currently has a buy rating on the stock. Wal-Mart Stores shares last traded at $84.13, with a volume of 25,110,368 shares changing hands.

Other equities research analysts have also recently issued reports about the stock. Citigroup Inc. increased their target price on shares of Wal-Mart Stores from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, August 15th. Wells Fargo & Company reiterated a “hold” rating on shares of Wal-Mart Stores in a research report on Thursday, August 17th. Credit Suisse Group reiterated a “hold” rating and issued a $84.00 target price on shares of Wal-Mart Stores in a research report on Friday, August 18th. Oppenheimer Holdings, Inc. began coverage on shares of Wal-Mart Stores in a research report on Tuesday. They issued a “buy” rating and a $90.00 target price for the company. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $88.00 target price on shares of Wal-Mart Stores in a research report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $81.98.

In other Wal-Mart Stores news, Director S Robson Walton sold 646,330 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $80.20, for a total transaction of $51,835,666.00. Following the completion of the transaction, the director now owns 3,344,956 shares of the company’s stock, valued at $268,265,471.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Alice L. Walton sold 621,500 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $78.28, for a total transaction of $48,651,020.00. Following the transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $528,278,842.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,924,828 shares of company stock valued at $785,676,492. 51.39% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in WMT. Vanguard Group Inc. boosted its stake in shares of Wal-Mart Stores by 0.4% in the second quarter. Vanguard Group Inc. now owns 105,673,654 shares of the retailer’s stock valued at $7,997,381,000 after purchasing an additional 440,343 shares during the period. State Street Corp boosted its stake in shares of Wal-Mart Stores by 1.2% in the first quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock valued at $5,303,013,000 after purchasing an additional 854,010 shares during the period. FMR LLC boosted its stake in shares of Wal-Mart Stores by 45.3% in the second quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after purchasing an additional 5,608,785 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Wal-Mart Stores by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 14,579,702 shares of the retailer’s stock valued at $1,103,426,000 after purchasing an additional 580,373 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Wal-Mart Stores by 2.6% in the first quarter. American Century Companies Inc. now owns 10,040,766 shares of the retailer’s stock valued at $723,738,000 after purchasing an additional 256,833 shares during the period. 30.19% of the stock is owned by institutional investors.

The firm has a market capitalization of $251.31 billion, a price-to-earnings ratio of 20.21 and a beta of 0.29. The company’s 50-day moving average is $79.46 and its 200-day moving average is $77.32.

Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The firm had revenue of $123.40 billion during the quarter, compared to analyst estimates of $121.86 billion. During the same period last year, the company posted $1.07 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Wal-Mart Stores, Inc. will post $4.38 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This news story was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://www.com-unik.info/2017/10/11/wal-mart-stores-inc-wmt-shares-gap-up-following-analyst-upgrade.html.

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.

What are top analysts saying about Wal-Mart Stores Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Wal-Mart Stores Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit