Wal-Mart Stores, Inc. (WMT) Position Reduced by Homrich & Berg
Homrich & Berg decreased its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 48.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,174 shares of the retailer’s stock after selling 6,666 shares during the period. Homrich & Berg’s holdings in Wal-Mart Stores were worth $543,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC raised its holdings in Wal-Mart Stores by 7.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,914 shares of the retailer’s stock worth $433,000 after purchasing an additional 405 shares in the last quarter. Birinyi Associates Inc. raised its holdings in Wal-Mart Stores by 7.5% during the second quarter. Birinyi Associates Inc. now owns 20,050 shares of the retailer’s stock worth $1,517,000 after purchasing an additional 1,400 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Wal-Mart Stores during the second quarter worth approximately $2,135,000. Girard Partners LTD. raised its holdings in Wal-Mart Stores by 8.5% during the second quarter. Girard Partners LTD. now owns 16,087 shares of the retailer’s stock worth $1,217,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in Wal-Mart Stores during the second quarter worth approximately $409,000. 30.15% of the stock is currently owned by hedge funds and other institutional investors.
Wal-Mart Stores, Inc. (NYSE WMT) opened at $90.92 on Friday. The firm has a market cap of $269,950.00, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 3.50 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, Inc. has a 52-week low of $65.28 and a 52-week high of $91.69.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. The firm had revenue of $123.40 billion during the quarter, compared to analyst estimates of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. equities analysts expect that Wal-Mart Stores, Inc. will post 4.37 earnings per share for the current year.
Wal-Mart Stores declared that its Board of Directors has approved a share buyback plan on Tuesday, October 10th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other Wal-Mart Stores news, Director S Robson Walton sold 129,628 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $80.44, for a total transaction of $10,427,276.32. Following the completion of the transaction, the director now owns 3,344,956 shares of the company’s stock, valued at approximately $269,068,260.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jim C. Walton sold 775,958 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $80.24, for a total transaction of $62,262,869.92. Following the transaction, the insider now directly owns 10,507,224 shares of the company’s stock, valued at approximately $843,099,653.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,924,828 shares of company stock valued at $785,676,492. Company insiders own 51.39% of the company’s stock.
Several research analysts have issued reports on the company. Citigroup Inc. upped their price target on Wal-Mart Stores from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Wal-Mart Stores in a report on Thursday, August 17th. Credit Suisse Group reaffirmed a “hold” rating and issued a $84.00 price target on shares of Wal-Mart Stores in a report on Friday, August 18th. Royal Bank Of Canada set a $83.00 price target on Wal-Mart Stores and gave the company a “sell” rating in a report on Friday. Finally, UBS AG set a $91.00 price target on Wal-Mart Stores and gave the company a “neutral” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Wal-Mart Stores currently has an average rating of “Hold” and an average price target of $86.65.
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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