Wal-Mart Stores, Inc. (NYSE:WMT) had its target price increased by Jefferies Group LLC from $93.00 to $97.00 in a research note published on Wednesday morning. The brokerage currently has a buy rating on the retailer’s stock. Jefferies Group also issued estimates for Wal-Mart Stores’ Q3 2018 earnings at $0.96 EPS, FY2018 earnings at $4.45 EPS and FY2021 earnings at $6.20 EPS.
A number of other brokerages have also recently commented on WMT. Royal Bank Of Canada set a $76.00 price target on Wal-Mart Stores and gave the stock a sell rating in a research report on Friday, August 4th. Citigroup Inc. boosted their price target on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a neutral rating in a research report on Tuesday, August 15th. MKM Partners reissued a neutral rating on shares of Wal-Mart Stores in a research report on Tuesday, August 15th. Stephens raised Wal-Mart Stores from an equal weight rating to an overweight rating and upped their price objective for the company from $78.00 to $91.00 in a research report on Friday, August 11th. Finally, BidaskClub raised Wal-Mart Stores from a buy rating to a strong-buy rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Wal-Mart Stores presently has a consensus rating of Hold and an average target price of $83.11.
Shares of Wal-Mart Stores (NYSE:WMT) traded up 0.43% during mid-day trading on Wednesday, hitting $86.10. The stock had a trading volume of 12,731,326 shares. The stock’s 50-day moving average price is $79.62 and its 200-day moving average price is $77.38. The firm has a market cap of $257.20 billion, a PE ratio of 20.69 and a beta of 0.29. Wal-Mart Stores has a 52-week low of $65.28 and a 52-week high of $86.37.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $121.86 billion. During the same period in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Wal-Mart Stores will post $4.37 earnings per share for the current fiscal year.
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Wal-Mart Stores announced that its board has approved a stock repurchase program on Tuesday, October 10th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other Wal-Mart Stores news, Director S Robson Walton sold 2,117,863 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $78.45, for a total value of $166,146,352.35. Following the completion of the sale, the director now owns 3,344,956 shares in the company, valued at approximately $262,411,798.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alice L. Walton sold 474,042 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $80.04, for a total value of $37,942,321.68. Following the completion of the sale, the insider now owns 10,048,580 shares of the company’s stock, valued at approximately $804,288,343.20. The disclosure for this sale can be found here. Insiders sold a total of 9,924,828 shares of company stock valued at $785,676,492 over the last 90 days. 51.39% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Hudock Capital Group LLC increased its stake in Wal-Mart Stores by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock worth $139,000 after buying an additional 7 shares in the last quarter. Gemmer Asset Management LLC increased its stake in Wal-Mart Stores by 0.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock worth $224,000 after buying an additional 10 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in Wal-Mart Stores by 0.4% in the 1st quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock worth $264,000 after buying an additional 15 shares in the last quarter. Sterneck Capital Management LLC increased its stake in Wal-Mart Stores by 0.3% in the 1st quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock worth $475,000 after buying an additional 22 shares in the last quarter. Finally, LLBH Private Wealth Management LLC increased its stake in Wal-Mart Stores by 0.3% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 7,843 shares of the retailer’s stock worth $594,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 30.19% 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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