Greenwood Gearhart Inc. cut its stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,280 shares of the retailer’s stock after selling 12,665 shares during the quarter. Wal-Mart Stores makes up about 3.1% of Greenwood Gearhart Inc.’s portfolio, making the stock its 2nd largest position. Greenwood Gearhart Inc.’s holdings in Wal-Mart Stores were worth $8,195,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Strategic Wealth Advisors Group LLC bought a new position in Wal-Mart Stores during the second quarter worth $1,527,000. Wealthsource Partners LLC boosted its stake in Wal-Mart Stores by 1.3% during the second quarter. Wealthsource Partners LLC now owns 15,389 shares of the retailer’s stock worth $1,165,000 after acquiring an additional 195 shares in the last quarter. Colony Group LLC boosted its stake in Wal-Mart Stores by 61.4% during the second quarter. Colony Group LLC now owns 5,607 shares of the retailer’s stock worth $424,000 after acquiring an additional 2,134 shares in the last quarter. Sterneck Capital Management LLC boosted its stake in Wal-Mart Stores by 1.5% during the second quarter. Sterneck Capital Management LLC now owns 6,689 shares of the retailer’s stock worth $506,000 after acquiring an additional 101 shares in the last quarter. Finally, Krilogy Financial LLC boosted its stake in Wal-Mart Stores by 5.1% during the second quarter. Krilogy Financial LLC now owns 5,186 shares of the retailer’s stock worth $393,000 after acquiring an additional 253 shares in the last quarter. 30.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Alice L. Walton sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $79.47, for a total transaction of $158,940,000.00. Following the completion of the sale, the insider now owns 6,748,580 shares in the company, valued at $536,309,652.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 1,586 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $79.00, for a total transaction of $125,294.00. Following the sale, the insider now owns 21,125 shares of the company’s stock, valued at approximately $1,668,875. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,419,109 shares of company stock valued at $1,366,198,547. 51.39% of the stock is currently owned by corporate insiders.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded down $0.23 during mid-day trading on Wednesday, hitting $96.70. 7,810,600 shares of the stock traded hands, compared to its average volume of 8,918,672. The stock has a market capitalization of $287,143.69, a P/E ratio of 22.13, a P/E/G ratio of 3.57 and a beta of 0.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.19 and a current ratio of 0.81. Wal-Mart Stores, Inc. has a 52 week low of $65.28 and a 52 week high of $100.13.
Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The company had revenue of $122.14 billion during the quarter, compared to the consensus estimate of $120.23 billion. Wal-Mart Stores had a net margin of 2.31% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. equities research analysts predict that Wal-Mart Stores, Inc. will post 4.43 earnings per share for the current year.
Wal-Mart Stores announced that its board has initiated a share repurchase program on Tuesday, October 10th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Several brokerages recently issued reports on WMT. Morgan Stanley reissued an “equal weight” rating and set a $100.00 target price (up from $92.00) on shares of Wal-Mart Stores in a research note on Tuesday. Moffett Nathanson assumed coverage on shares of Wal-Mart Stores in a report on Monday, December 4th. They set a “neutral” rating on the stock. Royal Bank of Canada upgraded shares of Wal-Mart Stores from an “underperform” rating to a “sector perform” rating and set a $96.00 price objective on the stock in a report on Wednesday, November 29th. Vetr upgraded shares of Wal-Mart Stores from a “sell” rating to a “hold” rating and set a $96.71 price objective on the stock in a report on Monday, November 27th. Finally, Cowen restated a “buy” rating and set a $110.00 price objective on shares of Wal-Mart Stores in a report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $92.96.
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Wal-Mart Stores 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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