Van ECK Associates Corp boosted its holdings in Wal-Mart Stores Inc (NYSE:WMT) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,389 shares of the retailer’s stock after purchasing an additional 2,246 shares during the quarter. Van ECK Associates Corp’s holdings in Wal-Mart Stores were worth $3,547,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of WMT. Bank of The West raised its stake in Wal-Mart Stores by 11.1% in the 2nd quarter. Bank of The West now owns 16,444 shares of the retailer’s stock worth $1,244,000 after purchasing an additional 1,647 shares in the last quarter. NEXT Financial Group Inc raised its stake in Wal-Mart Stores by 0.6% in the 2nd quarter. NEXT Financial Group Inc now owns 22,494 shares of the retailer’s stock worth $1,702,000 after purchasing an additional 129 shares in the last quarter. Trust Co. of Vermont raised its stake in Wal-Mart Stores by 3.1% in the 2nd quarter. Trust Co. of Vermont now owns 11,730 shares of the retailer’s stock worth $887,000 after purchasing an additional 358 shares in the last quarter. Trust Co. of Toledo NA OH raised its position in shares of Wal-Mart Stores by 45.9% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 14,389 shares of the retailer’s stock valued at $1,089,000 after buying an additional 4,525 shares in the last quarter. Finally, Nexus Investment Management Inc. raised its position in shares of Wal-Mart Stores by 0.4% in the 2nd quarter. Nexus Investment Management Inc. now owns 212,825 shares of the retailer’s stock valued at $16,107,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 30.53% of the company’s stock.
Shares of Wal-Mart Stores Inc (NYSE:WMT) opened at $105.45 on Tuesday. Wal-Mart Stores Inc has a 1-year low of $65.28 and a 1-year high of $105.45. The company has a current ratio of 0.81, a quick ratio of 0.19 and a debt-to-equity ratio of 0.52. The firm has a market cap of $312,380.00, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 4.14 and a beta of 0.37.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. Wal-Mart Stores had a net margin of 2.31% and a return on equity of 16.92%. The company had revenue of $122.14 billion for the quarter, compared to analyst estimates of $120.23 billion. During the same period in the prior year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts predict that Wal-Mart Stores Inc will post 4.44 earnings per share for the current fiscal year.
Wal-Mart Stores announced that its board has approved a share buyback 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. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, insider Jacqueline P. Canney sold 2,065 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $96.99, for a total value of $200,284.35. Following the sale, the insider now directly owns 19,060 shares of the company’s stock, valued at approximately $1,848,629.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 2,900,679 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $97.82, for a total transaction of $283,744,419.78. Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at $660,146,095.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,419,588 shares of company stock worth $1,207,333,538. Insiders own 51.39% of the company’s stock.
WMT has been the subject of several analyst reports. Citigroup upgraded shares of Wal-Mart Stores from a “neutral” rating to a “buy” rating and boosted their target price for the company from $106.00 to $117.00 in a research report on Tuesday, December 19th. Wells Fargo & Co set a $101.00 target price on shares of Wal-Mart Stores and gave the company a “neutral” rating in a research report on Wednesday, December 27th. Zacks Investment Research upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Thursday, October 12th. Wolfe Research upgraded shares of Wal-Mart Stores from an “underperform” rating to a “market perform” rating in a research report on Wednesday, December 20th. Finally, Bank of America set a $100.00 target price on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Tuesday, October 10th. Nineteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $99.44.
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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