Wal-Mart Stores, Inc. (WMT) Shares Bought by State of Tennessee Treasury Department
State of Tennessee Treasury Department grew its holdings in Wal-Mart Stores, Inc. (NYSE:WMT) by 51.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,200,336 shares of the retailer’s stock after acquiring an additional 750,615 shares during the period. Wal-Mart Stores comprises about 0.8% of State of Tennessee Treasury Department’s investment portfolio, making the stock its 20th biggest position. State of Tennessee Treasury Department owned about 0.07% of Wal-Mart Stores worth $166,521,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in WMT. Karp Capital Management Corp purchased a new position in shares of Wal-Mart Stores in the first quarter valued at about $111,777,000. Neuberger Berman Group LLC lifted its position in shares of Wal-Mart Stores by 100.2% in the second quarter. Neuberger Berman Group LLC now owns 2,646,589 shares of the retailer’s stock valued at $200,294,000 after acquiring an additional 1,324,722 shares in the last quarter. Swiss National Bank lifted its position in shares of Wal-Mart Stores by 24.3% in the first quarter. Swiss National Bank now owns 6,072,429 shares of the retailer’s stock valued at $437,701,000 after acquiring an additional 1,188,400 shares in the last quarter. State Street Corp lifted its position in shares of Wal-Mart Stores by 1.2% in the first quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock valued at $5,303,013,000 after acquiring an additional 854,010 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Wal-Mart Stores by 10.3% in the second quarter. Fisher Asset Management LLC now owns 5,853,675 shares of the retailer’s stock valued at $443,006,000 after acquiring an additional 544,692 shares in the last quarter. Institutional investors and hedge funds own 30.12% of the company’s stock.
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A number of equities research analysts recently commented on WMT shares. Citigroup Inc. boosted their target price on Wal-Mart Stores from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. Wells Fargo & Company reiterated a “hold” rating on shares of Wal-Mart Stores in a research report on Thursday, August 17th. Credit Suisse Group reiterated a “hold” rating and issued a $84.00 target price on shares of Wal-Mart Stores in a research report on Friday, August 18th. Jefferies Group LLC set a $105.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have assigned 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 a consensus target price of $87.54.
Shares of Wal-Mart Stores, Inc. (NYSE WMT) opened at $91.09 on Wednesday. The firm has a market capitalization of $272,100.00, a PE ratio of 20.85, a price-to-earnings-growth ratio of 3.39 and a beta of 0.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.18 and a current ratio of 0.78. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $91.98.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The company had revenue of $123.40 billion for the quarter, compared to the consensus estimate of $121.86 billion. During the same period last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. equities analysts anticipate that Wal-Mart Stores, Inc. will post 4.37 earnings per share for the current fiscal year.
Wal-Mart Stores declared that its Board of Directors has authorized a share buyback 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. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, major shareholder Alice L. Walton sold 2,000,000 shares of the firm’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 in the company, valued at approximately $536,309,652.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 1,586 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $79.00, for a total value of $125,294.00. Following the sale, the insider now owns 21,125 shares in the company, valued at $1,668,875. The disclosure for this sale can be found here. Insiders have sold a total of 9,924,828 shares of company stock worth $785,676,492 over the last 90 days. Insiders own 51.39% of the company’s stock.
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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