Cibc World Markets Corp reduced its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,059 shares of the retailer’s stock after selling 28,252 shares during the period. Cibc World Markets Corp’s holdings in Wal-Mart Stores were worth $32,017,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Winfield Associates Inc. boosted its position in shares of Wal-Mart Stores by 5.8% during the second quarter. Winfield Associates Inc. now owns 1,373 shares of the retailer’s stock worth $104,000 after buying an additional 75 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Wal-Mart Stores by 3.3% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,429 shares of the retailer’s stock worth $108,000 after buying an additional 45 shares during the period. TrimTabs Asset Management LLC raised its holdings in Wal-Mart Stores by 89.2% during the first quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock worth $106,000 after acquiring an additional 696 shares in the last quarter. Thompson Davis & CO. Inc. raised its holdings in Wal-Mart Stores by 456.9% during the second quarter. Thompson Davis & CO. Inc. now owns 1,526 shares of the retailer’s stock worth $115,000 after acquiring an additional 1,252 shares in the last quarter. Finally, Hudock Capital Group LLC raised its holdings in Wal-Mart Stores by 0.4% during the second quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock worth $139,000 after acquiring an additional 7 shares in the last quarter. 30.40% of the stock is owned by institutional investors.
Several analysts recently issued reports on WMT shares. Stephens upgraded Wal-Mart Stores from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $78.00 to $91.00 in a report on Friday, August 11th. Jefferies Group set a $88.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a report on Friday, August 11th. BidaskClub upgraded Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. J P Morgan Chase & Co set a $80.00 target price on Wal-Mart Stores and gave the stock a “neutral” rating in a report on Monday, August 14th. Finally, MKM Partners reiterated a “neutral” rating on shares of Wal-Mart Stores in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $92.68.
Wal-Mart Stores, Inc. (NYSE WMT) traded down $0.55 during trading hours on Thursday, reaching $97.28. The company’s stock had a trading volume of 7,140,900 shares, compared to its average volume of 8,942,550. The company has a quick ratio of 0.19, a current ratio of 0.81 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $289,809.84, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 3.61 and a beta of 0.37. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $100.13.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $122.14 billion for the quarter, compared to analyst estimates of $120.23 billion. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. equities research analysts forecast that Wal-Mart Stores, Inc. will post 4.43 earnings per share for the current fiscal year.
Wal-Mart Stores declared that its Board of Directors has authorized a share buyback program on Tuesday, October 10th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, insider Jacqueline P. Canney sold 1,586 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $79.00, for a total transaction of $125,294.00. Following the transaction, the insider now owns 21,125 shares in the company, valued at $1,668,875. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 2,900,679 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $97.82, for a total value of $283,744,419.78. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at approximately $660,146,095.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,419,109 shares of company stock worth $1,366,198,547. 51.39% of the stock is owned by corporate insiders.
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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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