Other analysts also recently issued reports about the company. Jefferies Group LLC reaffirmed a buy rating and set a $75.54 price objective (down from $88.00) on shares of Wal-Mart Stores in a research note on Thursday, June 22nd. BidaskClub downgraded Wal-Mart Stores from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. Vetr downgraded Wal-Mart Stores from a strong-buy rating to a buy rating and set a $80.69 price objective for the company. in a research note on Monday, June 19th. Goldman Sachs Group, Inc. (The) raised Wal-Mart Stores from a neutral rating to a buy rating and upped their price objective for the company from $78.00 to $84.00 in a research note on Friday, July 14th. Finally, Zacks Investment Research raised Wal-Mart Stores from a hold rating to a buy rating and set a $82.00 price objective for the company in a research note on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $83.11.
Wal-Mart Stores (NYSE:WMT) opened at 86.10 on Tuesday. Wal-Mart Stores has a 52 week low of $65.28 and a 52 week high of $86.37. The stock has a 50 day moving average price of $79.80 and a 200 day moving average price of $77.45. The stock has a market capitalization of $257.20 billion, a PE ratio of 20.69 and a beta of 0.29.
Wal-Mart Stores (NYSE:WMT) last posted its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 the consensus estimate of $121.86 billion. During the same period in the previous year, the business earned $1.07 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Wal-Mart Stores will post $4.37 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Bank of America Corporation Analysts Give Wal-Mart Stores, Inc. (WMT) a $100.00 Price Target” was originally reported by Markets Daily and is owned by of Markets Daily. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.themarketsdaily.com/2017/10/13/bank-of-america-corporation-analysts-give-wal-mart-stores-inc-wmt-a-100-00-price-target.html.
Wal-Mart Stores announced that its board has initiated a stock repurchase program on Tuesday, October 10th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director S Robson Walton sold 2,117,863 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $78.45, for a total transaction of $166,146,352.35. Following the sale, the director now owns 3,344,956 shares in the company, valued at $262,411,798.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 474,042 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 10,048,580 shares in the company, valued at approximately $804,288,343.20. The disclosure for this sale can be found here. Insiders have sold 9,924,828 shares of company stock worth $785,676,492 in the last 90 days. Insiders own 51.39% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Ropes Wealth Advisors LLC boosted its holdings in shares of Wal-Mart Stores by 4.6% during the first quarter. Ropes Wealth Advisors LLC now owns 23,573 shares of the retailer’s stock worth $1,699,000 after purchasing an additional 1,039 shares during the last quarter. Security National Bank of SO Dak boosted its holdings in shares of Wal-Mart Stores by 2.6% during the first quarter. Security National Bank of SO Dak now owns 15,305 shares of the retailer’s stock worth $1,103,000 after purchasing an additional 386 shares during the last quarter. First Personal Financial Services boosted its holdings in shares of Wal-Mart Stores by 5.0% during the first quarter. First Personal Financial Services now owns 72,719 shares of the retailer’s stock worth $5,242,000 after purchasing an additional 3,434 shares during the last quarter. Berkshire Asset Management LLC PA boosted its holdings in shares of Wal-Mart Stores by 1.5% during the second quarter. Berkshire Asset Management LLC PA now owns 138,747 shares of the retailer’s stock worth $10,500,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Wal-Mart Stores by 4.0% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 809,413 shares of the retailer’s stock worth $58,342,000 after purchasing an additional 31,436 shares during the last quarter. Institutional investors and hedge funds own 30.19% 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.
Receive News & Ratings for Wal-Mart Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wal-Mart Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.