Wolfe Research Upgrades Wal-Mart Stores (WMT) to Market Perform

Wal-Mart Stores (NYSE:WMT) was upgraded by equities research analysts at Wolfe Research from an “underperform” rating to a “market perform” rating in a research report issued on Wednesday.

WMT has been the subject of a number of other reports. BMO Capital Markets reiterated a “market weight” rating on shares of Wal-Mart Stores in a research note on Thursday, September 14th. Jefferies Group set a $105.00 price objective on Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, November 14th. Bank of America set a $100.00 price objective on Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, October 10th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $84.00 price objective (up from $80.00) on shares of Wal-Mart Stores in a research note on Friday, October 6th. Finally, Barclays set a $100.00 price objective on Wal-Mart Stores and gave the company a “buy” rating in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Wal-Mart Stores presently has a consensus rating of “Hold” and a consensus target price of $95.78.

Shares of Wal-Mart Stores (WMT) opened at $98.06 on Wednesday. The stock has a market capitalization of $290,490.00, a PE ratio of 22.56, a price-to-earnings-growth ratio of 3.64 and a beta of 0.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.19 and a current ratio of 0.81. Wal-Mart Stores has a 52 week low of $65.28 and a 52 week high of $100.13.

Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. The company had revenue of $122.14 billion during the quarter, compared to the consensus estimate of $120.23 billion. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. equities research analysts anticipate that Wal-Mart Stores will post 4.43 earnings per share for the current year.

Wal-Mart Stores announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 10th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, SVP David Chojnowski sold 684 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $99.29, for a total transaction of $67,914.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $79.47, for a total value of $158,940,000.00. Following the sale, the insider now directly owns 6,748,580 shares in the company, valued at $536,309,652.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,421,174 shares of company stock worth $1,366,398,832 over the last ninety days. Insiders own 51.39% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in Wal-Mart Stores by 45.3% during the 2nd quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after buying an additional 5,608,785 shares during the period. Alliancebernstein L.P. raised its holdings in Wal-Mart Stores by 42.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,745,493 shares of the retailer’s stock valued at $434,819,000 after buying an additional 1,716,422 shares during the period. Parametric Portfolio Associates LLC raised its holdings in Wal-Mart Stores by 52.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,883,390 shares of the retailer’s stock valued at $369,565,000 after buying an additional 1,689,364 shares during the period. Neuberger Berman Group LLC raised its holdings in Wal-Mart Stores by 100.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,646,589 shares of the retailer’s stock valued at $200,294,000 after buying an additional 1,324,722 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in Wal-Mart Stores by 128.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 2,058,798 shares of the retailer’s stock valued at $160,874,000 after buying an additional 1,158,519 shares during the period. 30.58% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This story was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.com-unik.info/2017/12/22/wolfe-research-upgrades-wal-mart-stores-wmt-to-market-perform.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.

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

What are top analysts saying about Wal-Mart Stores? - 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 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