Bingham Osborn & Scarborough LLC lifted its holdings in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,642 shares of the retailer’s stock after buying an additional 81 shares during the period. Bingham Osborn & Scarborough LLC’s holdings in Wal-Mart Stores were worth $276,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of WMT. Waldron LP acquired a new position in shares of Wal-Mart Stores during the 1st quarter worth about $313,000. Conning Inc. raised its holdings in shares of Wal-Mart Stores by 7.2% in the 1st quarter. Conning Inc. now owns 457,515 shares of the retailer’s stock valued at $32,978,000 after purchasing an additional 30,869 shares during the period. Dowling & Yahnke LLC raised its holdings in shares of Wal-Mart Stores by 0.7% in the 1st quarter. Dowling & Yahnke LLC now owns 68,923 shares of the retailer’s stock valued at $4,968,000 after purchasing an additional 467 shares during the period. DUPONT CAPITAL MANAGEMENT Corp raised its holdings in shares of Wal-Mart Stores by 18.6% in the 1st quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 137,887 shares of the retailer’s stock valued at $9,939,000 after purchasing an additional 21,609 shares during the period. Finally, Palisade Asset Management LLC raised its holdings in shares of Wal-Mart Stores by 6.9% in the 1st quarter. Palisade Asset Management LLC now owns 21,752 shares of the retailer’s stock valued at $1,568,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 30.19% of the company’s stock.
In related news, major shareholder Alice L. Walton sold 2,000,000 shares of Wal-Mart Stores 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director S Robson Walton sold 646,330 shares of Wal-Mart Stores stock in a transaction that occurred on 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 owns 3,344,956 shares in the company, valued at $268,265,471.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,924,828 shares of company stock worth $785,676,492. Company insiders own 51.39% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. KeyCorp reaffirmed a “buy” rating and issued a $90.00 target price on shares of Wal-Mart Stores in a report on Tuesday, September 19th. Zacks Investment Research cut shares of Wal-Mart Stores from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC set a $88.00 target price on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Monday, July 17th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $84.00 target price (up from $80.00) on shares of Wal-Mart Stores in a report on Friday, October 6th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Wal-Mart Stores in a report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Wal-Mart Stores currently has an average rating of “Hold” and a consensus target price of $84.38.
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Shares of Wal-Mart Stores, Inc. (NYSE WMT) opened at 87.44 on Friday. The firm has a market cap of $261.20 billion, a price-to-earnings ratio of 21.01 and a beta of 0.29. The firm has a 50-day moving average of $81.17 and a 200-day moving average of $78.10. Wal-Mart Stores, Inc. has a 12 month low of $65.28 and a 12 month high of $87.45.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly 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 firm had revenue of $123.40 billion for the quarter, compared to the consensus estimate of $121.86 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Wal-Mart Stores, Inc. will post $4.37 EPS for the current year.
Wal-Mart Stores announced that its board has authorized a share 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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.
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