The Wal-Mart Stores Inc. (WMT) PT Set at $76.00 by Bank of America Corp.

The Wal-Mart Stores Inc. (WMT) PT Set at $76.00 by Bank of America Corp.

Wal-Mart Stores Inc. (NYSE:WMT) received a $76.00 price objective from stock analysts at Bank of America Corp. in a research note issued to investors on Thursday. The brokerage currently has a a “hold” rating on the retailer’s stock. Bank of America Corp.’s price objective would suggest a potential upside of 10.63% from the stock’s previous close.

Several other brokerages also recently issued reports on WMT. Buckingham Research reissued a “neutral” rating on shares of Wal-Mart Stores in a research note on Thursday, August 18th. JPMorgan Chase & Co. set a $75.00 price objective 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 objective 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 upped their price objective 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 objective on shares of Wal-Mart Stores and gave the company a “hold” rating in a research note on Friday, August 19th. Three research 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.46.

Wal-Mart Stores (NYSE:WMT) opened at 68.70 on Thursday. The firm has a market cap of $212.51 billion, a P/E ratio of 14.79 and a beta of 0.20. The firm has a 50 day moving average of $71.77 and a 200 day moving average of $70.95. Wal-Mart Stores has a 1-year low of $56.30 and a 1-year high of $75.19.

Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, beating the 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. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. On average, equities research analysts expect that Wal-Mart Stores will post $4.34 EPS for the current year.

In other news, major shareholder Jim C. Walton sold 3,502,398 shares of Wal-Mart Stores stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $73.02, for a total value of $255,745,101.96. Following the transaction, the insider now owns 10,507,127 shares of the company’s stock, valued at approximately $767,230,413.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Alice L. Walton sold 3,504,756 shares of Wal-Mart Stores stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $71.37, for a total transaction of $250,134,435.72. Following the completion of the transaction, the insider now directly owns 6,748,580 shares in the company, valued at approximately $481,646,154.60. The disclosure for this sale can be found here. Company insiders own 51.55% of the company’s stock.

Several institutional investors have recently made changes to their positions in WMT. North Star Investment Management Corp. boosted its position in shares of Wal-Mart Stores by 1.8% in the first quarter. North Star Investment Management Corp. now owns 3,918 shares of the retailer’s stock valued at $268,000 after buying an additional 70 shares in the last quarter. Acropolis Investment Management LLC boosted its position in shares of Wal-Mart Stores by 4.1% in the first quarter. Acropolis Investment Management LLC now owns 39,583 shares of the retailer’s stock valued at $2,711,000 after buying an additional 1,551 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Wal-Mart Stores by 9.4% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 15,998 shares of the retailer’s stock valued at $1,096,000 after buying an additional 1,373 shares in the last quarter. Wade G W & Inc. boosted its position in shares of Wal-Mart Stores by 43.7% in the first quarter. Wade G W & Inc. now owns 5,715 shares of the retailer’s stock valued at $391,000 after buying an additional 1,738 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Wal-Mart Stores by 5.6% in the first quarter. Glenmede Trust Co. NA now owns 698,478 shares of the retailer’s stock valued at $47,838,000 after buying an additional 37,264 shares in the last quarter. 29.55% of the stock is currently owned by institutional investors.

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