Wal-Mart Stores (WMT) Upgraded to Buy by Vetr
Vetr upgraded shares of Wal-Mart Stores (NYSE:WMT) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Vetr currently has $104.38 price target on the retailer’s stock.
Other equities analysts have also recently issued reports about the company. Telsey Advisory Group lowered their target price on Wal-Mart Stores from $108.00 to $96.00 and set an outperform rating for the company in a report on Friday, November 17th. Royal Bank of Canada raised their target price on Wal-Mart Stores from $83.00 to $92.00 and gave the company an underperform rating in a report on Friday, November 17th. Moffett Nathanson assumed coverage on Wal-Mart Stores in a report on Monday, December 4th. They set a neutral rating for the company. Wells Fargo & Co set a $101.00 target price on Wal-Mart Stores and gave the company a neutral rating in a report on Tuesday, January 2nd. Finally, Jefferies Group lifted their price objective on Wal-Mart Stores from $93.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wal-Mart Stores presently has a consensus rating of Hold and an average price target of $97.16.
Shares of Wal-Mart Stores (WMT) traded up $0.85 during trading on Wednesday, reaching $100.87. The company had a trading volume of 6,907,200 shares, compared to its average volume of 8,490,000. Wal-Mart Stores has a 12 month low of $65.28 and a 12 month high of $102.35. The stock has a market cap of $298,820.00, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.68 and a beta of 0.37. 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 earnings results on Thursday, November 16th. The retailer reported $1.00 EPS 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 company had revenue of $122.14 billion during the quarter, compared to analysts’ expectations of $120.23 billion. During the same period last year, the business posted $0.98 EPS. Wal-Mart Stores’s revenue for the quarter was up 4.2% on a year-over-year basis. equities research analysts anticipate that Wal-Mart Stores will post 4.43 EPS for the current year.
Wal-Mart Stores announced that its board has authorized a stock repurchase program on Tuesday, October 10th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Jacqueline P. Canney sold 2,065 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $96.99, for a total transaction of $200,284.35. Following the completion of the sale, the insider now owns 19,060 shares in the company, valued at $1,848,629.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director S Robson Walton sold 826,617 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $96.39, for a total value of $79,677,612.63. Following the sale, the director now owns 3,345,065 shares of the company’s stock, valued at approximately $322,430,815.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,419,588 shares of company stock valued at $1,207,333,538. 51.39% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of WMT. Vanguard Group Inc. increased its position in Wal-Mart Stores by 0.4% during the second quarter. Vanguard Group Inc. now owns 105,673,654 shares of the retailer’s stock worth $7,997,381,000 after buying an additional 440,343 shares during the period. FMR LLC increased its position in Wal-Mart Stores by 45.3% during the second quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock worth $1,360,906,000 after buying an additional 5,608,785 shares during the period. Dimensional Fund Advisors LP increased its position in Wal-Mart Stores by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 14,804,523 shares of the retailer’s stock worth $1,156,909,000 after buying an additional 224,821 shares during the period. Schwab Charles Investment Management Inc. increased its position in Wal-Mart Stores by 1.9% during the second 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 during the period. Finally, Ameriprise Financial Inc. increased its position in Wal-Mart Stores by 0.5% during the third quarter. Ameriprise Financial Inc. now owns 8,919,633 shares of the retailer’s stock worth $696,979,000 after buying an additional 45,217 shares during the period. Hedge funds and other institutional investors own 30.58% 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.
To view Vetr’s full report, visit Vetr’s official website.
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