Ropes Wealth Advisors LLC increased its position in shares of Wal-Mart Stores, Inc. (NYSE:WMT) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,573 shares of the retailer’s stock after buying an additional 1,039 shares during the period. Ropes Wealth Advisors LLC’s holdings in Wal-Mart Stores were worth $1,699,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Asset Planning Services Ltd. boosted its stake in Wal-Mart Stores by 0.7% in the first quarter. Asset Planning Services Ltd. now owns 1,511 shares of the retailer’s stock valued at $109,000 after buying an additional 11 shares in the last quarter. High Point Bank & Trust Co. boosted its stake in Wal-Mart Stores by 71.9% in the fourth quarter. High Point Bank & Trust Co. now owns 1,960 shares of the retailer’s stock valued at $136,000 after buying an additional 820 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in Wal-Mart Stores by 7.2% in the first quarter. Arcadia Investment Management Corp MI now owns 2,504 shares of the retailer’s stock valued at $180,000 after buying an additional 169 shares in the last quarter. Alexandria Capital LLC boosted its stake in Wal-Mart Stores by 0.9% in the first quarter. Alexandria Capital LLC now owns 2,513 shares of the retailer’s stock valued at $181,000 after buying an additional 22 shares in the last quarter. Finally, Paragon Capital Management Ltd purchased a new stake in Wal-Mart Stores during the first quarter valued at about $201,000. 30.09% of the stock is owned by hedge funds and other institutional investors.
Wal-Mart Stores, Inc. (NYSE WMT) opened at 80.40 on Friday. Wal-Mart Stores, Inc. has a 12 month low of $65.28 and a 12 month high of $81.99. The company has a market cap of $242.37 billion, a price-to-earnings ratio of 18.26 and a beta of 0.29. The company’s 50 day moving average is $77.44 and its 200-day moving average is $74.15.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, May 18th. The retailer reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $116.53 billion for the quarter, compared to the consensus estimate of $117.01 billion. Wal-Mart Stores had a return on equity of 16.96% and a net margin of 2.79%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. On average, analysts expect that Wal-Mart Stores, Inc. will post $4.36 earnings per share for the current fiscal year.
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Several analysts have issued reports on WMT shares. Zacks Investment Research upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, July 13th. Vetr upgraded shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $79.40 price objective on the stock in a research report on Monday, May 15th. Royal Bank Of Canada restated a “sell” rating and set a $67.00 price objective on shares of Wal-Mart Stores in a research report on Tuesday, May 2nd. BMO Capital Markets upgraded shares of Wal-Mart Stores from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $63.00 to $80.00 in a research report on Friday, May 19th. Finally, KeyCorp restated an “overweight” rating and set a $90.00 price objective on shares of Wal-Mart Stores in a research report on Wednesday, April 19th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Wal-Mart Stores presently has a consensus rating of “Hold” and an average price target of $79.40.
In other news, insider David Cheesewright sold 25,729 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $76.65, for a total value of $1,972,127.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alice L. Walton sold 2,576,324 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $78.65, for a total value of $202,627,882.60. Following the sale, the insider now owns 6,748,580 shares in the company, valued at $530,775,817. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,006,720 shares of company stock worth $1,816,131,604. Company insiders own 51.39% 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.
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