Wal-Mart Stores, Inc. (WMT) Position Maintained by AR Asset Management Inc.
AR Asset Management Inc. continued to hold its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,800 shares of the retailer’s stock at the end of the 2nd quarter. AR Asset Management Inc.’s holdings in Wal-Mart Stores were worth $2,028,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. boosted its stake in shares of Wal-Mart Stores by 2.5% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 8,067 shares of the retailer’s stock worth $611,000 after acquiring an additional 200 shares in the last quarter. Iridian Asset Management LLC CT purchased a new stake in shares of Wal-Mart Stores during the 2nd quarter worth about $189,000. Hanson McClain Inc. boosted its stake in shares of Wal-Mart Stores by 13.8% during the 2nd quarter. Hanson McClain Inc. now owns 4,159 shares of the retailer’s stock worth $315,000 after acquiring an additional 505 shares in the last quarter. Burt Wealth Advisors boosted its stake in shares of Wal-Mart Stores by 21.5% during the 2nd quarter. Burt Wealth Advisors now owns 2,547 shares of the retailer’s stock worth $192,000 after acquiring an additional 450 shares in the last quarter. Finally, First Interstate Bank boosted its stake in shares of Wal-Mart Stores by 7.1% during the 2nd quarter. First Interstate Bank now owns 43,869 shares of the retailer’s stock worth $3,320,000 after acquiring an additional 2,890 shares in the last quarter. 30.18% of the stock is currently owned by institutional investors and hedge funds.
Wal-Mart Stores, Inc. (NYSE:WMT) opened at $89.68 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.18. Wal-Mart Stores, Inc. has a 1 year low of $65.28 and a 1 year high of $89.88. The company has a market cap of $267,892.28, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 3.46 and a beta of 0.34.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $123.40 billion during the quarter, compared to analysts’ expectations of $121.86 billion. During the same quarter last year, the company posted $1.07 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. equities research analysts forecast that Wal-Mart Stores, Inc. will post 4.37 earnings per share for the current fiscal year.
Wal-Mart Stores announced that its board has initiated 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
WMT has been the topic of a number of research reports. Jefferies Group LLC set a $88.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Friday, August 11th. Cowen and Company set a $86.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Monday, August 7th. BidaskClub raised shares of Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. BMO Capital Markets reaffirmed a “market weight” rating on shares of Wal-Mart Stores in a research note on Thursday, September 14th. Finally, Goldman Sachs Group, Inc. (The) set a $84.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $85.58.
In other news, major shareholder Alice L. Walton sold 621,500 shares of Wal-Mart Stores stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $78.28, for a total transaction of $48,651,020.00. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $528,278,842.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 474,042 shares of Wal-Mart Stores stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $80.04, for a total transaction of $37,942,321.68. Following the sale, the insider now directly owns 10,048,580 shares of the company’s stock, valued at $804,288,343.20. The disclosure for this sale can be found here. Insiders sold a total of 9,924,828 shares of company stock valued at $785,676,492 in the last three months. 51.39% of the stock is currently owned by corporate insiders.
Wal-Mart Stores 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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