Oakworth Capital Inc. boosted its holdings in Wal-Mart Stores Inc (NYSE:WMT) by 18.3% in the third quarter, HoldingsChannel reports. The firm owned 7,775 shares of the retailer’s stock after purchasing an additional 1,202 shares during the quarter. Oakworth Capital Inc.’s holdings in Wal-Mart Stores were worth $607,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Hays Advisory LLC grew its position in shares of Wal-Mart Stores by 6.0% in the 2nd quarter. Hays Advisory LLC now owns 3,601 shares of the retailer’s stock valued at $273,000 after acquiring an additional 203 shares during the period. Nepsis Capital Management Inc. bought a new position in shares of Wal-Mart Stores in the 2nd quarter valued at about $6,734,000. Pennsylvania Trust Co grew its position in shares of Wal-Mart Stores by 23.0% in the 2nd quarter. Pennsylvania Trust Co now owns 55,199 shares of the retailer’s stock valued at $4,185,000 after acquiring an additional 10,311 shares during the period. Stokes & Hubbell Capital Management LLC grew its position in shares of Wal-Mart Stores by 46.8% in the 2nd quarter. Stokes & Hubbell Capital Management LLC now owns 11,260 shares of the retailer’s stock valued at $852,000 after acquiring an additional 3,588 shares during the period. Finally, Bank of The West grew its position in shares of Wal-Mart Stores by 11.1% in the 2nd quarter. Bank of The West now owns 16,444 shares of the retailer’s stock valued at $1,244,000 after acquiring an additional 1,647 shares during the period. 30.58% of the stock is owned by institutional investors and hedge funds.
In other Wal-Mart Stores news, SVP David Chojnowski sold 684 shares of Wal-Mart Stores stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $99.29, for a total value of $67,914.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Robson Walton sold 826,617 shares of Wal-Mart Stores stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $96.39, for a total transaction of $79,677,612.63. Following the completion of the sale, the director now owns 3,345,065 shares of the company’s stock, valued at approximately $322,430,815.35. The disclosure for this sale can be found here. Insiders sold a total of 12,419,588 shares of company stock valued at $1,207,333,538 in the last quarter. Corporate insiders own 51.39% of the company’s stock.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 earnings per share for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $120.23 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue was up 4.2% on a year-over-year basis. equities analysts expect that Wal-Mart Stores Inc will post 4.44 earnings per share for the current fiscal year.
Wal-Mart Stores announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 10th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
A number of research analysts have recently commented on the stock. Stephens set a $117.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Tuesday, January 16th. Goldman Sachs Group set a $115.00 price objective on shares of Wal-Mart Stores and gave the company a “neutral” rating in a research report on Tuesday, January 16th. Macquarie set a $85.00 price objective on shares of Wal-Mart Stores and gave the company a “neutral” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Wal-Mart Stores from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Vetr raised shares of Wal-Mart Stores from a “sell” rating to a “hold” rating and set a $96.71 price objective for the company in a research report on Monday, November 27th. Nineteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.44.
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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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