Wal-Mart Stores Inc. (WMT) Stake Cut by Nippon Life Global Investors Americas Inc.
Nippon Life Global Investors Americas Inc. lowered its position in Wal-Mart Stores Inc. (NYSE:WMT) by 27.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,845 shares of the retailer’s stock after selling 44,430 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Wal-Mart Stores were worth $8,605,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Wal-Mart Stores by 27.6% in the second quarter. Victory Capital Management Inc. now owns 117,059 shares of the retailer’s stock worth $8,548,000 after buying an additional 25,308 shares during the last quarter. Midwest Investment Management LLC increased its stake in shares of Wal-Mart Stores by 4.2% in the second quarter. Midwest Investment Management LLC now owns 13,915 shares of the retailer’s stock worth $1,016,000 after buying an additional 565 shares during the last quarter. Affinity Investment Advisors LLC acquired a new stake in shares of Wal-Mart Stores during the second quarter worth $1,168,000. UBS Asset Management Americas Inc. increased its stake in shares of Wal-Mart Stores by 11.7% in the second quarter. UBS Asset Management Americas Inc. now owns 4,545,614 shares of the retailer’s stock worth $331,919,000 after buying an additional 477,648 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Wal-Mart Stores by 31.2% in the second quarter. Nationwide Fund Advisors now owns 737,683 shares of the retailer’s stock worth $53,866,000 after buying an additional 175,313 shares during the last quarter. Hedge funds and other institutional investors own 29.32% of the company’s stock.
Wal-Mart Stores Inc. (NYSE:WMT) traded down 0.62% on Monday, hitting $72.42. 4,680,990 shares of the stock were exchanged. The company has a 50-day moving average of $72.69 and a 200 day moving average of $70.42. The firm has a market cap of $224.01 billion, a P/E ratio of 15.59 and a beta of 0.22. Wal-Mart Stores Inc. has a 12 month low of $56.30 and a 12 month high of $75.19.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The firm had revenue of $120.90 billion for the quarter, compared to analysts’ expectations of $119.33 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts expect that Wal-Mart Stores Inc. will post $4.34 earnings per share for the current fiscal year.
A number of brokerages have weighed in on WMT. Vetr upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $75.98 price target for the company in a report on Monday. Credit Suisse Group AG began coverage on Wal-Mart Stores in a report on Friday. They set an “outperform” rating and a $80.00 price target for the company. Jefferies Group set a $86.00 price target on Wal-Mart Stores and gave the stock a “buy” rating in a report on Monday, September 12th. Cowen and Company upgraded Wal-Mart Stores from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $76.00 to $83.00 in a report on Monday, September 12th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating on shares of Wal-Mart Stores in a research note on Friday, September 9th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.17.
In related news, major shareholder Jim C. Walton sold 1,450,000 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $71.39, for a total transaction of $103,515,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director S Robson Walton sold 478,158 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $71.60, for a total transaction of $34,236,112.80. Following the transaction, the director now owns 1,987,604 shares in the company, valued at approximately $142,312,446.40. The disclosure for this sale can be found here. Corporate insiders own 51.55% of the company’s stock.
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 offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club.
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