State Treasurer State of Michigan reduced its holdings in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 48.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 444,134 shares of the retailer’s stock after selling 409,900 shares during the period. State Treasurer State of Michigan’s holdings in Wal-Mart Stores were worth $34,705,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Wal-Mart Stores by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 105,673,654 shares of the retailer’s stock valued at $7,997,381,000 after acquiring an additional 440,343 shares during the period. FMR LLC increased its holdings in shares of Wal-Mart Stores by 45.3% in the 2nd quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after acquiring an additional 5,608,785 shares during the period. Dimensional Fund Advisors LP grew its stake in Wal-Mart Stores by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,579,702 shares of the retailer’s stock worth $1,103,426,000 after buying an additional 580,373 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Wal-Mart Stores by 1.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,263,738 shares of the retailer’s stock worth $701,080,000 after buying an additional 174,296 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Wal-Mart Stores by 7.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,874,416 shares of the retailer’s stock worth $671,623,000 after buying an additional 607,827 shares during the last quarter. 30.58% of the stock is owned by institutional investors and hedge funds.
Wal-Mart Stores, Inc. (NYSE:WMT) traded up $0.35 during midday trading on Thursday, reaching $100.02. The company had a trading volume of 6,527,000 shares, compared to its average volume of 8,570,000. The firm has a market cap of $296,300.00, a PE ratio of 26.60, a price-to-earnings-growth ratio of 3.69 and a beta of 0.37. Wal-Mart Stores, Inc. has a 12 month low of $65.28 and a 12 month high of $102.35. The company has a quick ratio of 0.19, a current ratio of 0.81 and a debt-to-equity ratio of 0.52.
Wal-Mart Stores announced that its board has initiated a share repurchase plan on Tuesday, October 10th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
WMT has been the topic of several research analyst reports. Zacks Investment Research downgraded Wal-Mart Stores from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Wells Fargo & Co set a $101.00 target price on Wal-Mart Stores and gave the stock a “neutral” rating in a research note on Wednesday, December 27th. BMO Capital Markets restated a “market weight” rating on shares of Wal-Mart Stores in a research note on Thursday, September 14th. Jefferies Group set a $105.00 price target on Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Bank of America set a $100.00 price target on Wal-Mart Stores and gave the company a “buy” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.09.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 2,900,679 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was 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 approximately $660,146,095.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Alice L. Walton sold 1,002,210 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $96.23, for a total value of $96,442,668.30. Following the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at $649,415,853.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,419,588 shares of company stock valued at $1,207,333,538. 51.39% of the stock is owned by company 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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