Other research analysts have also issued research reports about the company. Robert W. Baird set a $90.00 price objective on Wal-Mart Stores and gave the company a buy rating in a report on Tuesday, October 3rd. Goldman Sachs Group set a $87.00 target price on Wal-Mart Stores and gave the company a buy rating in a report on Tuesday, October 3rd. 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. Jefferies Group raised their target price on Wal-Mart Stores from $93.00 to $97.00 and gave the company a buy rating in a report on Wednesday, October 11th. Finally, Bank of America set a $100.00 target price on Wal-Mart Stores and gave the company a buy rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $96.13.
Shares of Wal-Mart Stores (WMT) traded up $0.86 during trading on Tuesday, reaching $99.45. The company had a trading volume of 8,890,427 shares, compared to its average volume of 8,646,800. The stock has a market cap of $294,610.00, a P/E ratio of 26.45, a P/E/G ratio of 3.64 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 has a 1 year low of $65.28 and a 1 year high of $100.13.
Wal-Mart Stores announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 10th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Wal-Mart Stores news, insider Jacqueline P. Canney sold 2,065 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $96.99, for a total value of $200,284.35. Following the sale, the insider now owns 19,060 shares in the company, valued at $1,848,629.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Alice L. Walton sold 2,900,679 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $97.82, for a total value of $283,744,419.78. Following the completion of the sale, the insider now owns 6,748,580 shares in the company, valued at approximately $660,146,095.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,419,588 shares of company stock worth $1,207,333,538. Corporate insiders own 51.39% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Wal-Mart Stores by 45.3% during the 2nd quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after purchasing an additional 5,608,785 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Wal-Mart Stores by 42.6% during the second quarter. Alliancebernstein L.P. now owns 5,745,493 shares of the retailer’s stock valued at $434,819,000 after buying an additional 1,716,422 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Wal-Mart Stores by 52.9% during the second quarter. Parametric Portfolio Associates LLC now owns 4,883,390 shares of the retailer’s stock valued at $369,565,000 after buying an additional 1,689,364 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in 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 purchasing an additional 1,324,722 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its holdings in Wal-Mart Stores by 128.7% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 2,058,798 shares of the retailer’s stock worth $160,874,000 after purchasing an additional 1,158,519 shares during the last quarter. 30.58% of the stock is currently owned by hedge funds and other institutional investors.
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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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