Bank of America Corporation Analysts Give Wal-Mart Stores, Inc. (WMT) a $100.00 Price Target

Bank of America Corporation set a $100.00 target price on Wal-Mart Stores, Inc. (NYSE:WMT) in a report released on Tuesday morning. The firm currently has a buy rating on the retailer’s stock.

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.

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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.

Analyst Recommendations for Wal-Mart Stores (NYSE:WMT)

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