Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its stake in Wal-Mart Stores, Inc. (NYSE:WMT) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,033 shares of the retailer’s stock after selling 25,749 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Wal-Mart Stores were worth $18,393,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Waldron LP acquired a new position in Wal-Mart Stores in the first quarter worth $313,000. First Merchants Corp boosted its stake in Wal-Mart Stores by 6.3% in the first quarter. First Merchants Corp now owns 38,356 shares of the retailer’s stock worth $2,764,000 after purchasing an additional 2,277 shares in the last quarter. BTC Capital Management Inc. boosted its stake in Wal-Mart Stores by 4.7% in the first quarter. BTC Capital Management Inc. now owns 35,742 shares of the retailer’s stock worth $2,578,000 after purchasing an additional 1,617 shares in the last quarter. Whittier Trust Co. boosted its stake in Wal-Mart Stores by 1.4% in the first quarter. Whittier Trust Co. now owns 73,221 shares of the retailer’s stock worth $5,278,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Callahan Advisors LLC boosted its stake in Wal-Mart Stores by 16.6% in the first quarter. Callahan Advisors LLC now owns 58,446 shares of the retailer’s stock worth $4,213,000 after purchasing an additional 8,330 shares in the last quarter. Hedge funds and other institutional investors own 30.19% of the company’s stock.
A number of equities analysts have commented on WMT shares. Vetr lowered Wal-Mart Stores from a “strong-buy” rating to a “buy” rating and set a $80.69 price objective on the stock. in a research note on Monday, June 19th. BidaskClub lowered Wal-Mart Stores from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reissued a “buy” rating and issued a $75.54 price objective (down previously from $88.00) on shares of Wal-Mart Stores in a research note on Thursday, June 22nd. Wells Fargo & Company reissued a “market perform” rating on shares of Wal-Mart Stores in a research note on Tuesday, June 27th. Finally, Zacks Investment Research raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $84.11.
Wal-Mart Stores, Inc. (NYSE WMT) opened at 85.74 on Tuesday. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $86.95. The company’s 50 day moving average price is $80.08 and its 200-day moving average price is $77.67. The company has a market capitalization of $256.12 billion, a P/E ratio of 20.60 and a beta of 0.29.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The business had revenue of $123.40 billion during the quarter, compared to analyst estimates of $121.86 billion. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current fiscal year.
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 shares. This repurchase authorization permits the retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, major shareholder Alice L. Walton sold 474,042 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $80.04, for a total value of $37,942,321.68. Following the completion of the sale, the insider now directly owns 10,048,580 shares of the company’s stock, valued at approximately $804,288,343.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director S Robson Walton sold 129,628 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $80.44, for a total value of $10,427,276.32. Following the completion of the sale, the director now directly owns 3,344,956 shares of the company’s stock, valued at $269,068,260.64. 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 corporate insiders.
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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