New York State Teachers Retirement System cut its stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,546,600 shares of the retailer’s stock after selling 99,366 shares during the period. New York State Teachers Retirement System owned about 0.09% of Wal-Mart Stores worth $198,991,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of WMT. Vanguard Group Inc. increased its holdings in Wal-Mart Stores by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 105,673,654 shares of the retailer’s stock worth $7,997,381,000 after acquiring an additional 440,343 shares during the last quarter. FMR LLC increased its holdings in Wal-Mart Stores by 45.3% in the 2nd quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock worth $1,360,906,000 after acquiring an additional 5,608,785 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Wal-Mart Stores by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,579,702 shares of the retailer’s stock worth $1,103,426,000 after acquiring an additional 580,373 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Wal-Mart Stores by 1.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,263,738 shares of the retailer’s stock worth $701,080,000 after acquiring an additional 174,296 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Wal-Mart Stores by 7.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,874,416 shares of the retailer’s stock worth $671,623,000 after acquiring an additional 607,827 shares during the last quarter. Institutional investors and hedge funds own 30.58% of the company’s stock.
Shares of Wal-Mart Stores, Inc. (WMT) opened at $100.87 on Friday. The firm has a market capitalization of $298,820.00, a P/E ratio of 26.83, a P/E/G ratio of 3.68 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 debt-to-equity ratio of 0.52, a current ratio of 0.81 and a quick ratio of 0.19.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.03. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The firm had revenue of $122.14 billion during the quarter, compared to the consensus estimate of $120.23 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. analysts expect that Wal-Mart Stores, Inc. will post 4.43 earnings per share for the current fiscal year.
Wal-Mart Stores declared that its board has initiated a stock buyback plan on Tuesday, October 10th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, SVP David Chojnowski sold 684 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $99.29, for a total transaction of $67,914.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director S Robson Walton sold 826,617 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $96.39, for a total value of $79,677,612.63. Following the transaction, the director now directly owns 3,345,065 shares in the company, valued at $322,430,815.35. The disclosure for this sale can be found here. Insiders sold 12,419,588 shares of company stock valued at $1,207,333,538 in the last quarter. Corporate insiders own 51.39% of the company’s stock.
Several equities research analysts recently weighed in on WMT shares. Citigroup raised Wal-Mart Stores from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $106.00 to $117.00 in a report on Tuesday, December 19th. Zacks Investment Research raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Thursday, October 12th. Wells Fargo & Co set a $101.00 target price on Wal-Mart Stores and gave the company a “neutral” rating in a report on Wednesday, December 27th. Bank of America set a $100.00 target price on Wal-Mart Stores and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Wolfe Research raised Wal-Mart Stores from an “underperform” rating to a “market perform” rating in a report on Wednesday, December 20th. Eighteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $98.46.
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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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