Cedar Capital LLC purchased a new position in Wal-Mart Stores, Inc. (NYSE:WMT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,304 shares of the retailer’s stock, valued at approximately $250,000.
Several other hedge funds also recently made changes to their positions in WMT. Karp Capital Management Corp purchased a new position in shares of Wal-Mart Stores in the first quarter worth approximately $111,777,000. Neuberger Berman Group LLC boosted its holdings in shares of Wal-Mart Stores by 100.2% in the second quarter. Neuberger Berman Group LLC now owns 2,646,589 shares of the retailer’s stock worth $200,294,000 after buying an additional 1,324,722 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Wal-Mart Stores by 24.3% in the first quarter. Swiss National Bank now owns 6,072,429 shares of the retailer’s stock worth $437,701,000 after buying an additional 1,188,400 shares during the last quarter. State Street Corp boosted its holdings in shares of Wal-Mart Stores by 1.2% in the first quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock worth $5,303,013,000 after buying an additional 854,010 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Wal-Mart Stores by 10.3% in the second quarter. Fisher Asset Management LLC now owns 5,853,675 shares of the retailer’s stock worth $443,006,000 after buying an additional 544,692 shares during the last quarter. Hedge funds and other institutional investors own 30.12% of the company’s stock.
A number of research firms recently issued reports on WMT. Barclays PLC set a $100.00 price objective on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Monday. MKM Partners reissued a “neutral” rating on shares of Wal-Mart Stores in a report on Tuesday, August 15th. Morgan Stanley set a $90.00 price target on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Cowen and Company set a $86.00 price target on shares of Wal-Mart Stores and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, J P Morgan Chase & Co set a $80.00 price target on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a research report on Monday, August 14th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $87.27.
In other news, major shareholder Alice L. Walton sold 696,363 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $78.73, for a total transaction of $54,824,658.99. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at $531,315,703.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alice L. Walton sold 474,042 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $80.04, for a total transaction of $37,942,321.68. Following the transaction, the insider now owns 10,048,580 shares in the company, valued at approximately $804,288,343.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,924,828 shares of company stock worth $785,676,492. Corporate insiders own 51.39% of the company’s stock.
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Shares of Wal-Mart Stores, Inc. (NYSE WMT) opened at $90.99 on Tuesday. The company has a market cap of $271,810.00, a PE ratio of 20.85, a price-to-earnings-growth ratio of 3.39 and a beta of 0.34. Wal-Mart Stores, Inc. has a 1 year low of $65.28 and a 1 year high of $91.98. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 0.51.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $121.86 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. equities research analysts predict that Wal-Mart Stores, Inc. will post 4.37 EPS for the current year.
Wal-Mart Stores declared that its board has initiated a stock buyback plan on Tuesday, October 10th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is 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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