Truepoint Inc. boosted its stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,033 shares of the retailer’s stock after buying an additional 499 shares during the quarter. Truepoint Inc.’s holdings in Wal-Mart Stores were worth $325,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in WMT. Winfield Associates Inc. lifted its holdings in Wal-Mart Stores by 5.8% during the 2nd 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 lifted its holdings in Wal-Mart Stores by 89.2% during the 1st 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 period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in Wal-Mart Stores by 3.3% during the 2nd 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 period. Kistler Tiffany Companies LLC lifted its holdings in Wal-Mart Stores by 124.2% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,910 shares of the retailer’s stock worth $145,000 after buying an additional 1,058 shares during the period. Finally, SRS Capital Advisors Inc. lifted its holdings in Wal-Mart Stores by 75.2% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,099 shares of the retailer’s stock worth $151,000 after buying an additional 901 shares during the period. 30.16% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. Citigroup Inc. lifted their target price on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Wells Fargo & Company reissued a “hold” rating on shares of Wal-Mart Stores in a research report on Thursday, August 17th. Credit Suisse Group reissued a “hold” rating and issued a $84.00 price objective on shares of Wal-Mart Stores in a research report on Friday, August 18th. Zacks Investment Research raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $90.00 price objective on shares of Wal-Mart Stores in a research report on Friday, August 18th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Wal-Mart Stores currently has a consensus rating of “Hold” and a consensus price target of $84.77.
In related news, major shareholder Alice L. Walton sold 474,042 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $80.04, for a total transaction 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 $804,288,343.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 1,586 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $79.00, for a total transaction of $125,294.00. Following the completion of the sale, the insider now owns 21,125 shares in the company, valued at approximately $1,668,875. The disclosure for this sale can be found here. Insiders have sold 9,924,828 shares of company stock valued at $785,676,492 in the last three months. 51.39% of the stock is owned by insiders.
Wal-Mart Stores, Inc. (NYSE WMT) opened at 88.17 on Monday. The stock has a 50 day moving average price of $82.35 and a 200-day moving average price of $78.68. Wal-Mart Stores, Inc. has a 52 week low of $65.28 and a 52 week high of $89.11. The stock has a market cap of $263.38 billion, a P/E ratio of 21.18 and a beta of 0.29.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $123.40 billion during the quarter, compared to the consensus estimate of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 earnings per share. On average, equities analysts anticipate that Wal-Mart Stores, Inc. will post $4.37 EPS for the current fiscal year.
Wal-Mart Stores announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 10th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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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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