Wendell David Associates Inc. reduced its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 31,490 shares of the retailer’s stock after selling 251 shares during the period. Wendell David Associates Inc.’s holdings in Wal-Mart Stores were worth $2,383,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. TrimTabs Asset Management LLC increased its stake in shares of Wal-Mart Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock valued at $106,000 after buying an additional 696 shares in the last quarter. Asset Planning Services Ltd. increased its stake in shares of Wal-Mart Stores by 0.7% in the first quarter. Asset Planning Services Ltd. now owns 1,511 shares of the retailer’s stock valued at $109,000 after buying an additional 11 shares in the last quarter. Paragon Capital Management Ltd acquired a new stake in shares of Wal-Mart Stores during the first quarter valued at about $201,000. High Point Bank & Trust Co. increased its stake in shares of Wal-Mart Stores by 71.9% in the fourth quarter. High Point Bank & Trust Co. now owns 1,960 shares of the retailer’s stock valued at $136,000 after buying an additional 820 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Wal-Mart Stores by 75.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,099 shares of the retailer’s stock valued at $151,000 after buying an additional 901 shares in the last quarter. 30.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Wal-Mart Stores, Inc. (WMT) opened at 79.81 on Friday. The company’s 50 day moving average price is $76.50 and its 200-day moving average price is $73.26. Wal-Mart Stores, Inc. has a 52 week low of $65.28 and a 52 week high of $80.47. The firm has a market capitalization of $240.59 billion, a PE ratio of 18.12 and a beta of 0.28.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $116.53 billion during the quarter, compared to analyst estimates of $117.01 billion. Wal-Mart Stores had a net margin of 2.79% and a return on equity of 16.96%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. On average, equities research analysts expect that Wal-Mart Stores, Inc. will post $4.36 EPS for the current fiscal year.
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Several brokerages recently issued reports on WMT. Sanford C. Bernstein reissued a “buy” rating on shares of Wal-Mart Stores in a research note on Saturday, May 13th. UBS AG reissued a “neutral” rating and issued a $80.00 price objective (up from $73.00) on shares of Wal-Mart Stores in a research note on Sunday, May 21st. Zacks Investment Research raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Thursday. Pacific Crest downgraded Wal-Mart Stores to a “hold” rating in a research note on Sunday, April 30th. Finally, Vetr raised Wal-Mart Stores from a “sell” rating to a “hold” rating and set a $71.15 price objective for the company in a research note on Monday, July 10th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $78.46.
In other news, insider David Cheesewright sold 25,729 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $76.65, for a total transaction of $1,972,127.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director S Robson Walton sold 3,000,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $79.25, for a total transaction of $237,750,000.00. Following the transaction, the director now owns 3,344,956 shares of the company’s stock, valued at $265,087,763. The disclosure for this sale can be found here. Insiders have sold a total of 23,006,720 shares of company stock valued at $1,816,131,604 over the last 90 days. Company insiders own 51.39% of the company’s stock.
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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