Lincoln National Corp raised its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,418 shares of the retailer’s stock after acquiring an additional 1,270 shares during the quarter. Lincoln National Corp’s holdings in Wal-Mart Stores were worth $864,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of WMT. State Street Corp raised its holdings in shares of Wal-Mart Stores by 1.2% during 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. American Century Companies Inc. raised its holdings in shares of Wal-Mart Stores by 2.6% during 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. Schwab Charles Investment Management Inc. raised its holdings in shares of Wal-Mart Stores by 1.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 9,263,738 shares of the retailer’s stock valued at $701,080,000 after purchasing an additional 174,296 shares during the period. Legal & General Group Plc raised its holdings in shares of Wal-Mart Stores by 5.3% during the first quarter. Legal & General Group Plc now owns 8,594,967 shares of the retailer’s stock valued at $619,457,000 after purchasing an additional 429,599 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Wal-Mart Stores by 1.2% during the first quarter. Ameriprise Financial Inc. now owns 8,266,589 shares of the retailer’s stock valued at $595,995,000 after purchasing an additional 99,921 shares during the period. 30.18% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on WMT shares. MKM Partners restated a “neutral” rating on shares of Wal-Mart Stores in a report on Tuesday, August 15th. Cowen and Company set a $86.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Monday, August 7th. J P Morgan Chase & Co set a $80.00 price objective on shares of Wal-Mart Stores and gave the company a “neutral” rating in a research note on Monday, August 14th. BidaskClub upgraded shares of Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $90.00 price objective on shares of Wal-Mart Stores in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $85.58.
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In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 474,042 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 10,048,580 shares in the company, valued at approximately $804,288,343.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 owns 6,748,580 shares in the company, valued at $528,278,842.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,924,828 shares of company stock worth $785,676,492. 51.39% of the stock is owned by company insiders.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) opened at 87.31 on Wednesday. The company’s 50-day moving average is $82.80 and its 200 day moving average is $78.92. The company has a market cap of $260.81 billion, a price-to-earnings ratio of 20.98 and a beta of 0.29. Wal-Mart Stores, Inc. has a 1-year low of $65.28 and a 1-year high of $89.11.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The company had revenue of $123.40 billion for the quarter, compared to analysts’ expectations of $121.86 billion. During the same period in the prior year, the business earned $1.07 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Wal-Mart Stores, Inc. will post $4.37 EPS for the current year.
Wal-Mart Stores announced that its board has authorized a share repurchase plan on Tuesday, October 10th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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.
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