Wal-Mart Stores, Inc. (WMT) Given a $100.00 Price Target by KeyCorp Analysts

KeyCorp set a $100.00 target price on Wal-Mart Stores, Inc. (NYSE:WMT) in a research report report published on Wednesday morning. The firm currently has a buy rating on the retailer’s stock. KeyCorp also issued estimates for Wal-Mart Stores’ Q1 2019 earnings at $1.05 EPS, Q4 2019 earnings at $1.38 EPS and FY2019 earnings at $4.64 EPS.

Other research analysts have also issued research reports about the company. Jefferies Group LLC restated a buy rating and issued a $75.54 target price (down previously from $88.00) on shares of Wal-Mart Stores in a report on Thursday, June 22nd. BidaskClub lowered Wal-Mart Stores from a strong-buy rating to a buy rating in a report on Tuesday, June 20th. Vetr lowered Wal-Mart Stores from a strong-buy rating to a buy rating and set a $80.69 target price on the stock. in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) upgraded Wal-Mart Stores from a neutral rating to a buy rating and raised their target price for the company from $78.00 to $84.00 in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded Wal-Mart Stores from a hold rating to a buy rating and set a $82.00 target price on the stock in a report on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Wal-Mart Stores has a consensus rating of Hold and an average price target of $83.11.

Wal-Mart Stores (NYSE:WMT) traded up 0.43% during midday trading on Wednesday, reaching $86.10. The company’s stock had a trading volume of 12,731,326 shares. Wal-Mart Stores has a 52-week low of $65.28 and a 52-week high of $86.37. The firm has a 50 day moving average of $79.62 and a 200 day moving average of $77.38. The firm has a market cap of $257.20 billion, a P/E ratio of 20.69 and a beta of 0.29.

Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The company had revenue of $123.40 billion for the quarter, compared to analyst estimates of $121.86 billion. During the same quarter last year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that Wal-Mart Stores will post $4.37 earnings per share for the current fiscal year.

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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 shares. This buyback authorization permits the retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, major shareholder Alice L. Walton sold 474,042 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $80.04, for a total value of $37,942,321.68. Following the completion of the sale, the insider now owns 10,048,580 shares of the company’s stock, valued at approximately $804,288,343.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director S Robson Walton sold 646,330 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $80.20, for a total value of $51,835,666.00. Following the completion of the sale, the director now directly owns 3,344,956 shares of the company’s stock, valued at approximately $268,265,471.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,924,828 shares of company stock valued at $785,676,492. Corporate insiders own 51.39% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WMT. FMR LLC lifted its stake in shares of 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. Canada Pension Plan Investment Board lifted its stake in shares of Wal-Mart Stores by 161.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,297,419 shares of the retailer’s stock valued at $237,678,000 after acquiring an additional 2,035,800 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Wal-Mart Stores by 42.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,745,493 shares of the retailer’s stock valued at $434,819,000 after acquiring an additional 1,716,422 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Wal-Mart Stores by 52.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,883,390 shares of the retailer’s stock valued at $369,565,000 after acquiring an additional 1,689,364 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Wal-Mart Stores in the 1st quarter valued at about $111,777,000. 30.19% of the stock is owned by institutional investors.

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.

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

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