Arvest Bank Trust Division Sells 5,461 Shares of Wal-Mart Stores, Inc. (WMT)
Arvest Bank Trust Division lessened its stake in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 3.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 142,240 shares of the retailer’s stock after selling 5,461 shares during the period. Arvest Bank Trust Division’s holdings in Wal-Mart Stores were worth $10,765,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC grew 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 valued at $106,000 after purchasing an additional 696 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Wal-Mart Stores by 75.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,099 shares of the retailer’s stock worth $151,000 after acquiring an additional 901 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Wal-Mart Stores by 7.2% in the first quarter. Arcadia Investment Management Corp MI now owns 2,504 shares of the retailer’s stock worth $180,000 after acquiring an additional 169 shares during the period. Alexandria Capital LLC boosted its stake in shares of Wal-Mart Stores by 0.9% in the first quarter. Alexandria Capital LLC now owns 2,513 shares of the retailer’s stock worth $181,000 after acquiring an additional 22 shares during the period. Finally, Paragon Capital Management Ltd bought a new position in shares of Wal-Mart Stores in the first quarter worth about $201,000. 30.19% of the stock is owned by institutional investors and hedge funds.
In other Wal-Mart Stores news, insider David Cheesewright sold 25,729 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $76.65, for a total value of $1,972,127.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Alice L. Walton sold 1,652,342 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $79.35, for a total value of $131,113,337.70. Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at approximately $535,499,823. The disclosure for this sale can be found here. In the last three months, insiders sold 7,948,971 shares of company stock worth $628,583,326. 51.39% of the stock is owned by corporate insiders.
A number of equities analysts have recently weighed in on WMT shares. Goldman Sachs Group, Inc. (The) set a $84.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Wednesday, July 26th. 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. Jefferies Group LLC set a $88.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Monday, July 17th. Cowen and Company reaffirmed an “outperform” rating and issued a $86.00 price objective (up previously from $83.00) on shares of Wal-Mart Stores in a research note on Monday, June 5th. Finally, Royal Bank Of Canada set a $74.00 price objective on Wal-Mart Stores and gave the stock a “sell” rating in a research note on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $80.25.
Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $123.40 billion for the quarter, compared to analyst estimates of $121.86 billion. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 earnings per share.
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.
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