Cypress Capital Group Sells 17,911 Shares of Wal-Mart Stores, Inc. (WMT)
Cypress Capital Group reduced its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 27.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,015 shares of the retailer’s stock after selling 17,911 shares during the period. Cypress Capital Group’s holdings in Wal-Mart Stores were worth $3,389,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of WMT. Canada Pension Plan Investment Board raised its stake in shares of Wal-Mart Stores by 161.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,297,419 shares of the retailer’s stock worth $237,678,000 after buying an additional 2,035,800 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Wal-Mart Stores during the first quarter worth approximately $111,777,000. Swiss National Bank raised its stake in shares of Wal-Mart Stores by 24.3% in the first quarter. Swiss National Bank now owns 6,072,429 shares of the retailer’s stock worth $437,701,000 after buying an additional 1,188,400 shares in the last quarter. State Street Corp raised its stake in shares of Wal-Mart Stores by 1.2% in the first quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock worth $5,303,013,000 after buying an additional 854,010 shares in the last quarter. Finally, QV Investors Inc. raised its stake in shares of Wal-Mart Stores by 114.3% in the first quarter. QV Investors Inc. now owns 920,393 shares of the retailer’s stock worth $66,341,000 after buying an additional 491,004 shares in the last quarter. Hedge funds and other institutional investors own 30.09% of the company’s stock.
Shares of Wal-Mart Stores, Inc. (NYSE WMT) traded down 0.32% during mid-day trading on Friday, hitting $80.40. The company’s stock had a trading volume of 7,905,495 shares. The company has a market cap of $242.37 billion, a PE ratio of 18.26 and a beta of 0.29. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $81.99. The stock has a 50-day moving average of $77.44 and a 200-day moving average of $74.15.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings data on Thursday, May 18th. The retailer reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.04. Wal-Mart Stores had a return on equity of 16.96% and a net margin of 2.79%. The business had revenue of $116.53 billion for the quarter, compared to the consensus estimate of $117.01 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Wal-Mart Stores, Inc. will post $4.36 EPS for the current year.
WMT has been the topic of a number of recent research reports. Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Thursday, July 13th. Vetr upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $79.40 target price on the stock in a research report on Monday, May 15th. Royal Bank Of Canada reiterated a “sell” rating and issued a $67.00 target price on shares of Wal-Mart Stores in a research report on Tuesday, May 2nd. BMO Capital Markets upgraded Wal-Mart Stores from an “underperform” rating to a “market perform” rating and upped their target price for the company from $63.00 to $80.00 in a research report on Friday, May 19th. Finally, KeyCorp reiterated an “overweight” rating and issued a $90.00 target price on shares of Wal-Mart Stores in a research report on Wednesday, April 19th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Wal-Mart Stores has an average rating of “Hold” and a consensus price target of $79.40.
In other news, insider Jacqueline P. Canney sold 1,322 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $78.75, for a total value of $104,107.50. Following the sale, the insider now directly owns 23,854 shares in the company, valued at $1,878,502.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 2,576,324 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $78.65, for a total value of $202,627,882.60. Following the completion of the sale, the insider now owns 6,748,580 shares in the company, valued at $530,775,817. The disclosure for this sale can be found here. Insiders sold 23,006,720 shares of company stock worth $1,816,131,604 over the last 90 days. Company insiders own 51.39% 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.
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