Caldwell & Orkin Inc. purchased a new stake in Wal-Mart Stores, Inc. (NYSE:WMT) in the third quarter, HoldingsChannel.com reports. The fund purchased 17,800 shares of the retailer’s stock, valued at approximately $1,391,000. Wal-Mart Stores accounts for approximately 1.4% of Caldwell & Orkin Inc.’s portfolio, making the stock its 27th biggest position.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Wal-Mart Stores by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 105,673,654 shares of the retailer’s stock valued at $7,997,381,000 after purchasing an additional 440,343 shares in the last quarter. FMR LLC grew its stake in Wal-Mart Stores by 45.3% in the 2nd quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after acquiring an additional 5,608,785 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Wal-Mart Stores by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,579,702 shares of the retailer’s stock valued at $1,103,426,000 after acquiring an additional 580,373 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Wal-Mart Stores by 1.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,263,738 shares of the retailer’s stock valued at $701,080,000 after acquiring an additional 174,296 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Wal-Mart Stores by 7.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,874,416 shares of the retailer’s stock valued at $671,623,000 after acquiring an additional 607,827 shares during the last quarter. Institutional investors and hedge funds own 30.58% of the company’s stock.
In related news, major shareholder Alice L. Walton sold 1,002,210 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $96.23, for a total value of $96,442,668.30. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at $649,415,853.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 2,065 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $96.99, for a total transaction of $200,284.35. Following the completion of the transaction, the insider now owns 19,060 shares in the company, valued at approximately $1,848,629.40. The disclosure for this sale can be found here. Insiders sold 12,419,588 shares of company stock worth $1,207,333,538 in the last 90 days. 51.39% of the stock is currently owned by insiders.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, November 16th. The retailer reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. Wal-Mart Stores had a net margin of 2.31% and a return on equity of 16.92%. The business had revenue of $122.14 billion for the quarter, compared to analysts’ expectations of $120.23 billion. During the same period last year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. analysts anticipate that Wal-Mart Stores, Inc. will post 4.43 EPS for the current fiscal year.
Wal-Mart Stores declared that its board has approved a stock buyback plan on Tuesday, October 10th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
WMT has been the topic of a number of research reports. Robert W. Baird set a $90.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Goldman Sachs Group set a $87.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, October 3rd. KeyCorp reissued a “buy” rating and issued a $90.00 price objective on shares of Wal-Mart Stores in a research note on Tuesday, September 19th. Jefferies Group increased their price objective on shares of Wal-Mart Stores from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, Bank of America set a $100.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, October 10th. Eighteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $98.46.
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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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