Karp Capital Management Corp Has $408,000 Position in Wal-Mart Stores, Inc. (NYSE:WMT)

Karp Capital Management Corp trimmed its position in Wal-Mart Stores, Inc. (NYSE:WMT) by 99.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,392 shares of the retailer’s stock after selling 1,545,349 shares during the period. Karp Capital Management Corp’s holdings in Wal-Mart Stores were worth $408,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Gemmer Asset Management LLC lifted its stake in shares of Wal-Mart Stores by 0.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 2,965 shares of the retailer’s stock valued at $224,000 after purchasing an additional 10 shares during the period. Wellington Shields & Co. LLC lifted its stake in shares of Wal-Mart Stores by 0.4% in the 1st quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock valued at $264,000 after purchasing an additional 15 shares during the period. Sterneck Capital Management LLC lifted its stake in shares of Wal-Mart Stores by 0.3% in the 1st quarter. Sterneck Capital Management LLC now owns 6,588 shares of the retailer’s stock valued at $475,000 after purchasing an additional 22 shares during the period. LLBH Private Wealth Management LLC lifted its stake in shares of Wal-Mart Stores by 0.3% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 7,843 shares of the retailer’s stock valued at $594,000 after purchasing an additional 24 shares during the period. Finally, Edgemoor Investment Advisors Inc. lifted its stake in shares of Wal-Mart Stores by 0.3% in the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 7,654 shares of the retailer’s stock valued at $579,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 30.12% of the company’s stock.

Shares of Wal-Mart Stores, Inc. (WMT) opened at $90.99 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.18. Wal-Mart Stores, Inc. has a fifty-two week low of $65.28 and a fifty-two week high of $91.98. The firm has a market cap of $271,596.41, a PE ratio of 20.85, a P/E/G ratio of 3.39 and a beta of 0.34.

Wal-Mart Stores (NYSE:WMT) last posted 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 company had revenue of $123.40 billion for the quarter, compared to analyst estimates of $121.86 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. analysts expect that Wal-Mart Stores, Inc. will post 4.37 earnings per share for the current fiscal year.

Wal-Mart Stores declared that its board has approved a stock buyback program on Tuesday, October 10th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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Several brokerages recently commented on WMT. Goldman Sachs Group, Inc. (The) set a $84.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Jefferies Group LLC set a $88.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Monday, July 17th. Bank of America Corporation set a $100.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Thursday, October 12th. Finally, KeyCorp set a $100.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Wal-Mart Stores has an average rating of “Hold” and an average price target of $87.27.

In other news, major shareholder Alice L. Walton sold 2,000,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $536,309,652.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 1,586 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $79.00, for a total transaction of $125,294.00. Following the transaction, the insider now directly owns 21,125 shares of the company’s stock, valued at $1,668,875. The disclosure for this sale can be found here. Insiders sold a total of 9,924,828 shares of company stock valued at $785,676,492 over the last ninety days. 51.39% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for Wal-Mart Stores (NYSE:WMT)

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