Trade Report: The Essex Investment Management Co. LLC Continues to Hold Position in Wal-Mart Stores Inc. (WMT)

The Essex Investment Management Co. LLC Continues to Hold Position in Wal-Mart Stores Inc. (WMT)

Essex Investment Management Co. LLC continued to hold its stake in shares of Wal-Mart Stores Inc. (NYSE:WMT) during the second quarter, Holdings Channel reports. The fund owned 4,500 shares of the retailer’s stock at the end of the second quarter. Essex Investment Management Co. LLC’s holdings in Wal-Mart Stores were worth $329,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WMT. Icon Advisers Inc. Co. purchased a new stake in Wal-Mart Stores during the first quarter worth about $767,000. CIBC World Markets Inc. boosted its stake in Wal-Mart Stores by 27.3% in the first quarter. CIBC World Markets Inc. now owns 217,896 shares of the retailer’s stock worth $14,924,000 after buying an additional 46,673 shares during the period. Raab & Moskowitz Asset Management LLC boosted its stake in Wal-Mart Stores by 3.4% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 6,783 shares of the retailer’s stock worth $464,000 after buying an additional 221 shares during the period. Middleton & Co Inc MA boosted its stake in Wal-Mart Stores by 718.5% in the first quarter. Middleton & Co Inc MA now owns 35,132 shares of the retailer’s stock worth $2,406,000 after buying an additional 30,840 shares during the period. Finally, Hyman Charles D purchased a new stake in Wal-Mart Stores during the first quarter worth about $1,291,000. Hedge funds and other institutional investors own 29.55% of the company’s stock.

Wal-Mart Stores Inc. (NYSE:WMT) traded up 0.10% during midday trading on Wednesday, reaching $67.46. 8,937,859 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $71.48 and a 200-day moving average of $70.97. The stock has a market cap of $208.67 billion, a PE ratio of 14.52 and a beta of 0.20. Wal-Mart Stores Inc. has a 12 month low of $56.30 and a 12 month high of $75.19.

Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 earned $120.90 billion during the quarter, compared to analyst estimates of $119.33 billion. During the same period last year, the business earned $1.08 earnings per share. Wal-Mart Stores’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that Wal-Mart Stores Inc. will post $4.34 earnings per share for the current year.

A number of research analysts have recently commented on the stock. Morgan Stanley reaffirmed a “hold” rating and set a $67.00 price objective on shares of Wal-Mart Stores in a research report on Tuesday, July 12th. Deutsche Bank AG reissued a “hold” rating and issued a $70.00 price target on shares of Wal-Mart Stores in a research report on Thursday, August 18th. Buckingham Research reaffirmed a “neutral” rating on shares of Wal-Mart Stores in a research note on Thursday, August 18th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Wal-Mart Stores in a report on Friday, September 9th. Finally, Cowen and Company upgraded shares of Wal-Mart Stores from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $76.00 to $83.00 in a report on Monday, September 12th. Three investment 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 stock. The stock presently has a consensus rating of “Hold” and an average price target of $74.93.

In other news, major shareholder Alice L. Walton sold 2,100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $71.44, for a total value of $150,024,000.00. Following the completion of the transaction, the insider now directly owns 6,748,580 shares in the company, valued at $482,118,555.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alice L. Walton sold 3,142,846 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $72.41, for a total transaction of $227,573,478.86. Following the completion of the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at $488,664,677.80. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by insiders.

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 offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club.

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