LS Investment Advisors LLC Acquires 12,350 Shares of Wal-Mart Stores, Inc. (WMT)
LS Investment Advisors LLC grew its holdings in Wal-Mart Stores, Inc. (NYSE:WMT) by 16.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,689 shares of the retailer’s stock after purchasing an additional 12,350 shares during the period. LS Investment Advisors LLC’s holdings in Wal-Mart Stores were worth $6,774,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Oakbrook Investments LLC increased its holdings in Wal-Mart Stores by 12.2% during the third quarter. Oakbrook Investments LLC now owns 23,493 shares of the retailer’s stock worth $1,836,000 after buying an additional 2,550 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Wal-Mart Stores by 3.7% during the third quarter. Fisher Asset Management LLC now owns 6,069,465 shares of the retailer’s stock worth $474,268,000 after buying an additional 215,790 shares during the last quarter. Windward Capital Management Co. CA acquired a new position in Wal-Mart Stores during the third quarter worth $835,000. Adams Asset Advisors LLC increased its holdings in Wal-Mart Stores by 3.4% during the third quarter. Adams Asset Advisors LLC now owns 77,250 shares of the retailer’s stock worth $6,036,000 after buying an additional 2,510 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Wal-Mart Stores during the third quarter worth $6,898,000. Institutional investors own 30.58% of the company’s stock.
In related news, Director S Robson Walton sold 826,617 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $96.39, for a total transaction of $79,677,612.63. Following the completion of the sale, the director now owns 3,345,065 shares of the company’s stock, valued at $322,430,815.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 2,000,000 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $79.47, for a total transaction of $158,940,000.00. Following the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $536,309,652.60. The disclosure for this sale can be found here. In the last three months, insiders sold 14,421,174 shares of company stock valued at $1,366,398,832. 51.39% of the stock is currently owned by company insiders.
Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, November 16th. The retailer reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. The company had revenue of $122.14 billion during the quarter, compared to analysts’ expectations of $120.23 billion. Wal-Mart Stores had a net margin of 2.31% and a return on equity of 16.92%. Wal-Mart Stores’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. sell-side analysts forecast that Wal-Mart Stores, Inc. will post 4.43 EPS for the current year.
Wal-Mart Stores announced that its board has authorized a stock buyback program on Tuesday, October 10th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the retailer to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
WMT has been the topic of a number of recent analyst reports. BMO Capital Markets restated a “market weight” rating on shares of Wal-Mart Stores in a report on Thursday, September 14th. Jefferies Group set a $105.00 target price on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday, November 14th. Bank of America set a $100.00 target price on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $84.00 price objective (up from $80.00) on shares of Wal-Mart Stores in a research report on Friday, October 6th. Finally, Barclays set a $100.00 price objective on shares of Wal-Mart Stores and gave the stock a “buy” rating in a research report on Monday, November 13th. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Wal-Mart Stores has a consensus rating of “Hold” and an average target price of $94.70.
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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