OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 21.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,447 shares of the retailer’s stock after purchasing an additional 7,247 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Wal-Mart Stores were worth $2,915,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of WMT. Benson Investment Management Company Inc. increased its stake in Wal-Mart Stores by 4.5% during the 1st quarter. Benson Investment Management Company Inc. now owns 34,222 shares of the retailer’s stock worth $2,447,000 after purchasing an additional 1,460 shares in the last quarter. Jolley Asset Management LLC increased its stake in Wal-Mart Stores by 4.0% during the 1st quarter. Jolley Asset Management LLC now owns 51,478 shares of the retailer’s stock worth $3,711,000 after purchasing an additional 1,966 shares in the last quarter. Somerset Trust Co increased its stake in Wal-Mart Stores by 2.2% during the 1st quarter. Somerset Trust Co now owns 17,632 shares of the retailer’s stock worth $1,271,000 after purchasing an additional 378 shares in the last quarter. Evanson Asset Management LLC bought a new stake in Wal-Mart Stores during the 1st quarter worth approximately $223,000. Finally, Patten & Patten Inc. TN increased its stake in Wal-Mart Stores by 3.2% during the 1st quarter. Patten & Patten Inc. TN now owns 6,403 shares of the retailer’s stock worth $462,000 after purchasing an additional 200 shares in the last quarter. 30.21% of the stock is owned by institutional investors and hedge funds.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded up 0.91% on Tuesday, hitting $79.80. The company had a trading volume of 2,619,030 shares. Wal-Mart Stores, Inc. has a 1-year low of $65.28 and a 1-year high of $81.99. The firm has a market capitalization of $240.04 billion, a price-to-earnings ratio of 19.17 and a beta of 0.30. The company has a 50 day moving average price of $79.72 and a 200 day moving average price of $75.87.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $123.40 billion for the quarter, compared to analysts’ expectations of $121.86 billion. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 EPS. On average, equities analysts forecast that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current fiscal year.
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In related news, major shareholder Alice L. Walton sold 1,652,342 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $79.35, for a total transaction of $131,113,337.70. Following the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $535,499,823. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey J. Gearhart sold 9,216 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $78.96, for a total value of $727,695.36. The disclosure for this sale can be found here. Insiders have sold a total of 7,948,971 shares of company stock worth $628,583,326 in the last three months. 51.39% of the stock is currently owned by insiders.
A number of research firms recently issued reports on WMT. UBS AG reissued a “neutral” rating and set a $80.00 target price (up from $73.00) on shares of Wal-Mart Stores in a research note on Sunday, May 21st. Citigroup Inc. raised their price target on shares of Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Wal-Mart Stores in a research note on Thursday, August 17th. Credit Suisse Group reaffirmed a “hold” rating and set a $84.00 price target on shares of Wal-Mart Stores in a research note on Friday, August 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $88.00 price target on shares of Wal-Mart Stores in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $80.25.
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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