Greatmark Investment Partners Inc. trimmed its holdings in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,426 shares of the retailer’s stock after selling 50 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Wal-Mart Stores were worth $1,319,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Winfield Associates Inc. increased its position in shares of Wal-Mart Stores by 5.8% during the 2nd quarter. Winfield Associates Inc. now owns 1,373 shares of the retailer’s stock worth $104,000 after purchasing an additional 75 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Wal-Mart Stores by 3.3% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,429 shares of the retailer’s stock worth $108,000 after purchasing an additional 45 shares during the last quarter. TrimTabs Asset Management LLC increased its position in shares of Wal-Mart Stores by 89.2% during the 1st quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock worth $106,000 after purchasing an additional 696 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in shares of Wal-Mart Stores by 124.2% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,910 shares of the retailer’s stock worth $145,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of Wal-Mart Stores by 49.8% during the 2nd quarter. Grove Bank & Trust now owns 2,015 shares of the retailer’s stock worth $152,000 after purchasing an additional 670 shares during the last quarter. 30.19% of the stock is owned by hedge funds and other institutional investors.
In other Wal-Mart Stores news, Director S Robson Walton sold 129,628 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $80.44, for a total transaction of $10,427,276.32. Following 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 is available at this link. Also, major shareholder Jim C. Walton sold 775,958 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $80.24, for a total value of $62,262,869.92. Following the transaction, the insider now directly owns 10,507,224 shares in the company, valued at approximately $843,099,653.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,924,828 shares of company stock worth $785,676,492. 51.39% of the stock is currently owned by company insiders.
Wal-Mart Stores, Inc. (WMT) opened at 86.10 on Friday. The firm’s 50-day moving average price is $79.80 and its 200 day moving average price is $77.45. Wal-Mart Stores, Inc. has a 52-week low of $65.28 and a 52-week high of $86.37. The firm has a market cap of $257.20 billion, a price-to-earnings ratio of 20.69 and a beta of 0.29.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 17th. The retailer reported $1.08 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted $1.07 EPS. Wal-Mart Stores’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Wal-Mart Stores, Inc. will post $4.37 EPS for the current year.
Wal-Mart Stores declared that its board has approved a share repurchase program on Tuesday, October 10th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the retailer to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of analysts recently issued reports on the company. KeyCorp reissued a “buy” rating and set a $90.00 price objective on shares of Wal-Mart Stores in a research report on Tuesday, September 19th. Vetr downgraded Wal-Mart Stores from a “strong-buy” rating to a “buy” rating and set a $80.69 price objective for the company. in a research report on Monday, June 19th. BidaskClub downgraded Wal-Mart Stores from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Jefferies Group LLC set a $88.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $84.00 price objective (up from $80.00) on shares of Wal-Mart Stores in a research report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Wal-Mart Stores has an average rating of “Hold” and a consensus price target of $83.11.
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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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