Trading Report: The BMO Capital Markets Trims Wal-Mart Stores Inc. (WMT) Target Price to $63.00

The BMO Capital Markets Trims Wal-Mart Stores Inc. (WMT) Target Price to $63.00

Wal-Mart Stores Inc. (NYSE:WMT) had its target price lowered by BMO Capital Markets from $67.00 to $63.00 in a report issued on Tuesday morning. BMO Capital Markets currently has an underperform rating on the retailer’s stock.

A number of other research firms also recently issued reports on WMT. Buckingham Research reiterated a neutral rating on shares of Wal-Mart Stores in a research report on Thursday, August 18th. JPMorgan Chase & Co. set a $75.00 price target on shares of Wal-Mart Stores and gave the company a neutral rating in a research note on Friday, August 19th. Morgan Stanley set a $76.00 price target on shares of Wal-Mart Stores and gave the company a neutral rating in a research note on Friday, August 19th. Royal Bank Of Canada boosted their price target on shares of Wal-Mart Stores from $73.00 to $76.00 and gave the company an underperform rating in a research note on Friday, August 19th. Finally, Stephens set a $73.00 price target on shares of Wal-Mart Stores and gave the company a hold rating in a research note on Friday, August 19th. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $74.93.

Shares of Wal-Mart Stores (NYSE:WMT) opened at 68.23 on Tuesday. The firm has a market cap of $211.05 billion, a PE ratio of 14.69 and a beta of 0.20. The firm has a 50-day moving average of $71.24 and a 200-day moving average of $70.92. Wal-Mart Stores has a 52 week low of $56.30 and a 52 week high of $75.19.

Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The company had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. During the same quarter in the previous year, the company earned $1.08 EPS. Wal-Mart Stores’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts expect that Wal-Mart Stores will post $4.34 EPS for the current year.

In related news, major shareholder Alice L. Walton sold 3,504,756 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $71.37, for a total value of $250,134,435.72. Following the completion of the sale, the insider now owns 6,748,580 shares of the company’s stock, valued at $481,646,154.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Alice L. Walton sold 3,142,846 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $72.41, for a total value of $227,573,478.86. Following the completion of the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $488,664,677.80. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of Wal-Mart Stores by 4.2% in the first quarter. Envestnet Asset Management Inc. now owns 608,983 shares of the retailer’s stock worth $41,709,000 after buying an additional 24,292 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Wal-Mart Stores by 12.9% in the second quarter. Acadian Asset Management LLC now owns 3,788,062 shares of the retailer’s stock worth $276,603,000 after buying an additional 431,780 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Wal-Mart Stores by 3.0% in the second quarter. Retirement Systems of Alabama now owns 1,582,960 shares of the retailer’s stock worth $115,588,000 after buying an additional 45,683 shares during the last quarter. British Columbia Investment Management Corp raised its stake in shares of Wal-Mart Stores by 2.1% in the second quarter. British Columbia Investment Management Corp now owns 621,749 shares of the retailer’s stock worth $45,400,000 after buying an additional 13,017 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Wal-Mart Stores by 33.7% in the first quarter. Panagora Asset Management Inc. now owns 1,692,255 shares of the retailer’s stock worth $115,903,000 after buying an additional 426,436 shares during the last quarter. 29.55% of the stock is owned by institutional investors.

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