Comerica Bank raised its stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 599,496 shares of the retailer’s stock after buying an additional 6,816 shares during the period. Comerica Bank’s holdings in Wal-Mart Stores were worth $45,226,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in WMT. AMG Funds LLC increased its position in Wal-Mart Stores by 1.0% in the first quarter. AMG Funds LLC now owns 32,489 shares of the retailer’s stock valued at $2,342,000 after buying an additional 331 shares in the last quarter. Wellington Shields & Co. LLC increased its position in shares of Wal-Mart Stores by 0.4% in the first quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock worth $264,000 after buying an additional 15 shares during the period. AT Bancorp increased its position in shares of Wal-Mart Stores by 248.8% in the first quarter. AT Bancorp now owns 19,765 shares of the retailer’s stock worth $1,424,000 after buying an additional 14,099 shares during the period. Altfest L J & Co. Inc. increased its position in shares of Wal-Mart Stores by 138.9% in the first quarter. Altfest L J & Co. Inc. now owns 22,956 shares of the retailer’s stock worth $1,655,000 after buying an additional 13,346 shares during the period. Finally, Davis R M Inc. bought a new position in shares of Wal-Mart Stores during the first quarter worth about $249,000. 30.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wal-Mart Stores, Inc. (WMT) traded up 0.37% during midday trading on Monday, reaching $80.70. The company had a trading volume of 7,791,818 shares. The firm has a market capitalization of $243.27 billion, a price-to-earnings ratio of 18.32 and a beta of 0.29. Wal-Mart Stores, Inc. has a 52 week low of $65.28 and a 52 week high of $81.99. The stock has a 50-day moving average of $77.44 and a 200 day moving average of $74.15.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.04. The company had revenue of $116.53 billion during the quarter, compared to the consensus estimate of $117.01 billion. Wal-Mart Stores had a net margin of 2.79% and a return on equity of 16.96%. Wal-Mart Stores’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, analysts anticipate that Wal-Mart Stores, Inc. will post $4.36 earnings per share for the current year.
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A number of brokerages have weighed in on WMT. Royal Bank Of Canada set a $76.00 target price on Wal-Mart Stores and gave the stock a “sell” rating in a report on Friday, August 4th. Stephens upgraded Wal-Mart Stores from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $91.00 in a report on Friday. Jefferies Group LLC set a $88.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a report on Friday. BidaskClub raised Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Citigroup Inc. set a $78.00 price objective on Wal-Mart Stores and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $79.77.
In other news, Director S Robson Walton sold 1,618,300 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $80.22, for a total value of $129,820,026.00. Following the completion of the sale, the director now owns 3,344,956 shares of the company’s stock, valued at approximately $268,332,370.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Jim C. Walton sold 3,278,735 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $79.00, for a total transaction of $259,020,065.00. Following the completion of the sale, the insider now directly owns 10,507,224 shares of the company’s stock, valued at approximately $830,070,696. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,006,720 shares of company stock valued at $1,816,131,604. 51.39% of the stock is owned by insiders.
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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