Wal-Mart Stores, Inc. (WMT) Given New $97.00 Price Target at Jefferies Group LLC

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.

COPYRIGHT VIOLATION NOTICE: “Wal-Mart Stores, Inc. (WMT) Given New $97.00 Price Target at Jefferies Group LLC” was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.com-unik.info/2017/10/12/wal-mart-stores-inc-wmt-given-new-97-00-price-target-at-jefferies-group-llc.html.

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.

Analyst Recommendations for Wal-Mart Stores (NYSE:WMT)

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