R. G. Niederhoffer Capital Management Inc. Acquires New Holdings in Wal-Mart Stores, Inc. (WMT)
R. G. Niederhoffer Capital Management Inc. acquired a new position in Wal-Mart Stores, Inc. (NYSE:WMT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,800 shares of the retailer’s stock, valued at approximately $363,000. Wal-Mart Stores comprises 3.0% of R. G. Niederhoffer Capital Management Inc.’s portfolio, making the stock its 13th biggest holding.
A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in Wal-Mart Stores by 1.2% during the 1st 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. American Century Companies Inc. lifted its holdings in Wal-Mart Stores by 2.6% during the 1st quarter. American Century Companies Inc. now owns 10,040,766 shares of the retailer’s stock worth $723,738,000 after buying an additional 256,833 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Wal-Mart Stores by 1.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,263,738 shares of the retailer’s stock worth $701,080,000 after buying an additional 174,296 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Wal-Mart Stores by 5.3% in the 1st quarter. Legal & General Group Plc now owns 8,594,967 shares of the retailer’s stock valued at $619,457,000 after purchasing an additional 429,599 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Wal-Mart Stores by 1.2% in the 1st quarter. Ameriprise Financial Inc. now owns 8,266,589 shares of the retailer’s stock valued at $595,995,000 after purchasing an additional 99,921 shares in the last quarter. Institutional investors own 30.18% of the company’s stock.
A number of equities research analysts have recently weighed in on WMT shares. BidaskClub upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Morningstar, Inc. restated a “neutral” rating on shares of Wal-Mart Stores in a report on Wednesday, August 2nd. Vetr lowered shares of Wal-Mart Stores from a “sell” rating to a “strong sell” rating and set a $64.26 price objective on the stock. in a report on Monday, July 17th. Citigroup Inc raised their price objective on shares of Wal-Mart Stores from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Finally, Zacks Investment Research upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $85.58.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) opened at $89.68 on Friday. The firm has a market capitalization of $265,263.56, a P/E ratio of 20.37, a PEG ratio of 3.43 and a beta of 0.34. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 0.51.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The business had revenue of $123.40 billion during the quarter, compared to the consensus estimate of $121.86 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. analysts expect that Wal-Mart Stores, Inc. will post 4.39 EPS for the current fiscal year.
Wal-Mart Stores announced that its board has initiated a share repurchase plan on Tuesday, October 10th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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In related news, major shareholder Alice L. Walton sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $79.47, for a total value of $158,940,000.00. Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at $536,309,652.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 1,586 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $79.00, for a total transaction of $125,294.00. Following the completion of the sale, the insider now owns 21,125 shares of the company’s stock, valued at $1,668,875. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,924,828 shares of company stock valued at $785,676,492. 51.39% of the stock is owned by insiders.
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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