Marketfield Asset Management LLC bought a new position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 112,415 shares of the retailer’s stock, valued at approximately $8,103,000. Wal-Mart Stores comprises approximately 1.9% of Marketfield Asset Management LLC’s investment portfolio, making the stock its 24th largest position.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WMT. Canada Pension Plan Investment Board lifted its stake in Wal-Mart Stores by 161.4% during the first quarter. Canada Pension Plan Investment Board now owns 3,297,419 shares of the retailer’s stock worth $237,678,000 after purchasing an additional 2,035,800 shares during the last quarter. Karp Capital Management Corp bought a new stake in Wal-Mart Stores during the first quarter worth $111,777,000. Swiss National Bank lifted its stake in Wal-Mart Stores by 24.3% during the first quarter. Swiss National Bank now owns 6,072,429 shares of the retailer’s stock worth $437,701,000 after purchasing an additional 1,188,400 shares during the last quarter. State Street Corp lifted its stake in Wal-Mart Stores by 1.2% during the first quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock worth $5,303,013,000 after purchasing an additional 854,010 shares during the last quarter. Finally, QV Investors Inc. lifted its stake in Wal-Mart Stores by 114.3% during the first quarter. QV Investors Inc. now owns 920,393 shares of the retailer’s stock worth $66,341,000 after purchasing an additional 491,004 shares during the last quarter. Hedge funds and other institutional investors own 29.93% of the company’s stock.
In other news, insider Jeffrey J. Gearhart sold 9,216 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $78.96, for a total value of $727,695.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director S Robson Walton sold 3,000,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $79.25, for a total transaction of $237,750,000.00. Following the completion of the sale, the director now directly owns 3,344,956 shares of the company’s stock, valued at $265,087,763. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,948,971 shares of company stock valued at $866,333,326. Corporate insiders own 51.39% of the company’s stock.
Shares of Wal-Mart Stores, Inc. (NYSE WMT) traded down 1.55% on Friday, reaching $78.88. 9,999,593 shares of the company’s stock traded hands. The stock has a market cap of $237.27 billion, a price-to-earnings ratio of 18.95 and a beta of 0.30. Wal-Mart Stores, Inc. has a 52-week low of $65.28 and a 52-week high of $81.99. The firm’s 50-day moving average is $79.62 and its 200-day moving average is $75.78.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) 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 analysts’ expectations of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. Analysts anticipate that Wal-Mart Stores, Inc. will post $4.37 EPS for the current fiscal year.
Several research analysts have recently issued reports on the stock. UBS AG reiterated a “neutral” rating and set a $80.00 price target (up from $73.00) on shares of Wal-Mart Stores in a report on Sunday, May 21st. Sanford C. Bernstein reiterated a “buy” rating on shares of Wal-Mart Stores in a report on Saturday, May 13th. MKM Partners reiterated a “neutral” rating on shares of Wal-Mart Stores in a report on Tuesday, August 15th. Cowen and Company set a $86.00 price target on shares of Wal-Mart Stores and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, J P Morgan Chase & Co set a $80.00 price target on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a report on Monday, August 14th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $80.25.
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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