Beacon Financial Group raised its position in Wal-Mart Stores, Inc. (NYSE:WMT) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,852 shares of the retailer’s stock after buying an additional 1,596 shares during the period. Beacon Financial Group’s holdings in Wal-Mart Stores were worth $1,735,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. Robinson Value Management Ltd. increased its stake in Wal-Mart Stores by 9.5% in the 2nd quarter. Robinson Value Management Ltd. now owns 28,986 shares of the retailer’s stock valued at $2,194,000 after buying an additional 2,521 shares during the last quarter. Catawba Capital Management VA purchased a new stake in Wal-Mart Stores in the 2nd quarter valued at about $230,000. First National Bank of Mount Dora Trust Investment Services purchased a new stake in Wal-Mart Stores in the 2nd quarter valued at about $2,243,000. First PREMIER Bank increased its stake in Wal-Mart Stores by 7.7% in the 2nd quarter. First PREMIER Bank now owns 9,619 shares of the retailer’s stock valued at $728,000 after buying an additional 691 shares during the last quarter. Finally, Indiana Trust & Investment Management CO increased its stake in Wal-Mart Stores by 2.5% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 5,499 shares of the retailer’s stock valued at $416,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 30.21% of the company’s stock.
Several brokerages have recently issued reports on WMT. Royal Bank Of Canada set a $76.00 price target on shares of Wal-Mart Stores and gave the stock a “sell” rating in a research note on Friday, August 4th. MKM Partners restated a “neutral” rating on shares of Wal-Mart Stores in a research note on Tuesday, August 15th. 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. Stephens upgraded shares of Wal-Mart Stores from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $78.00 to $91.00 in a research note on Friday, August 11th. Finally, Jefferies Group LLC set a $88.00 price target on shares of Wal-Mart Stores and gave the stock a “buy” rating in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $80.25.
In related news, Director S Robson Walton sold 2,117,863 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $78.45, for a total transaction of $166,146,352.35. Following the completion of the transaction, the director now owns 3,344,956 shares in the company, valued at $262,411,798.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Cheesewright sold 25,729 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $76.65, for a total transaction of $1,972,127.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,948,971 shares of company stock valued at $628,583,326. 51.39% of the stock is owned by company insiders.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded up 0.88% during trading on Friday, reaching $80.38. 13,317,757 shares of the company were exchanged. Wal-Mart Stores, Inc. has a 1-year low of $65.28 and a 1-year high of $81.99. The company has a market capitalization of $241.78 billion, a price-to-earnings ratio of 19.31 and a beta of 0.30. The stock’s 50 day moving average is $79.86 and its 200 day moving average is $76.06.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The firm had revenue of $123.40 billion during the quarter, compared to analyst estimates of $121.86 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. Wal-Mart Stores’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that Wal-Mart Stores, Inc. will post $4.38 earnings per share for the current year.
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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