Wal-Mart Stores, Inc. (WMT) Major Shareholder Sells $202,021,185.30 in Stock
Wal-Mart Stores, Inc. (NYSE:WMT) major shareholder Jim C. Walton sold 2,089,370 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $96.69, for a total value of $202,021,185.30. Following the transaction, the insider now owns 10,507,224 shares of the company’s stock, valued at $1,015,943,488.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Wal-Mart Stores, Inc. (NYSE WMT) traded up $0.21 during trading hours on Friday, reaching $96.62. The company’s stock had a trading volume of 4,496,117 shares, compared to its average volume of 8,925,999. Wal-Mart Stores, Inc. has a 52-week low of $65.28 and a 52-week high of $100.13. The company has a market capitalization of $288,620.00, a PE ratio of 22.01, a price-to-earnings-growth ratio of 3.56 and a beta of 0.34. The company has a quick ratio of 0.19, a current ratio of 0.81 and a debt-to-equity ratio of 0.52.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings results on Thursday, November 16th. The retailer reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The firm had revenue of $122.14 billion for the quarter, compared to analysts’ expectations of $120.23 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. equities research analysts forecast that Wal-Mart Stores, Inc. will post 4.43 earnings per share for the current fiscal year.
Wal-Mart Stores announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 10th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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A number of brokerages have recently commented on WMT. Citigroup Inc. upped their price target on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Wells Fargo & Company reiterated a “hold” rating on shares of Wal-Mart Stores in a report on Thursday, August 17th. Credit Suisse Group reiterated a “hold” rating and set a $84.00 price target on shares of Wal-Mart Stores in a report on Friday, August 18th. Royal Bank Of Canada upped their price target on Wal-Mart Stores from $83.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, November 17th. Finally, Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $92.38.
A number of large investors have recently made changes to their positions in the business. Institutional & Family Asset Management LLC boosted its stake in Wal-Mart Stores by 3.2% in the third quarter. Institutional & Family Asset Management LLC now owns 39,789 shares of the retailer’s stock worth $3,109,000 after purchasing an additional 1,228 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Wal-Mart Stores in the third quarter worth $3,555,000. Optimum Investment Advisors boosted its stake in Wal-Mart Stores by 11.5% in the third quarter. Optimum Investment Advisors now owns 19,746 shares of the retailer’s stock worth $1,543,000 after purchasing an additional 2,032 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Wal-Mart Stores by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 1,046,818 shares of the retailer’s stock worth $81,798,000 after purchasing an additional 3,633 shares in the last quarter. Finally, Truepoint Inc. boosted its stake in Wal-Mart Stores by 6,861.5% in the third quarter. Truepoint Inc. now owns 280,757 shares of the retailer’s stock worth $281,000 after purchasing an additional 276,724 shares in the last quarter. Hedge funds and other institutional investors own 30.22% 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 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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