Today, City Holding Co. Reduces stake in Wal-Mart Stores, Inc. (WMT)

Today, City Holding Co. Reduces stake in Wal-Mart Stores, Inc. (WMT)

City Holding Co. decreased its position in Wal-Mart Stores, Inc. (NYSE:WMT) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 33,874 shares of the retailer’s stock after selling 705 shares during the period. Wal-Mart Stores comprises about 1.1% of City Holding Co.’s investment portfolio, making the stock its 21st largest position. City Holding Co.’s holdings in Wal-Mart Stores were worth $2,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of Wal-Mart Stores by 1.6% in the second quarter. BlackRock Fund Advisors now owns 19,309,257 shares of the retailer’s stock worth $1,409,962,000 after buying an additional 297,217 shares during the period. Ameriprise Financial Inc. raised its position in shares of Wal-Mart Stores by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 8,319,158 shares of the retailer’s stock worth $607,461,000 after buying an additional 389,425 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Wal-Mart Stores by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 8,146,797 shares of the retailer’s stock worth $594,878,000 after buying an additional 629,728 shares during the period. Legal & General Group Plc raised its position in shares of Wal-Mart Stores by 2.6% in the second quarter. Legal & General Group Plc now owns 8,015,281 shares of the retailer’s stock worth $585,236,000 after buying an additional 201,015 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Wal-Mart Stores by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,418,449 shares of the retailer’s stock worth $541,665,000 after buying an additional 1,449,033 shares during the period. Institutional investors own 28.67% of the company’s stock.

Shares of Wal-Mart Stores, Inc. (NYSE:WMT) traded down 0.06% during mid-day trading on Monday, hitting $71.19. The company’s stock had a trading volume of 7,099,193 shares. Wal-Mart Stores, Inc. has a 1-year low of $58.32 and a 1-year high of $75.19. The company has a market cap of $219.91 billion, a price-to-earnings ratio of 15.44 and a beta of 0.10. The company has a 50-day moving average of $69.58 and a 200 day moving average of $71.28.

Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, November 17th. The retailer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $118.20 billion for the quarter, compared to the consensus estimate of $118.69 billion. Wal-Mart Stores had a return on equity of 17.71% and a net margin of 2.98%. Wal-Mart Stores’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, analysts expect that Wal-Mart Stores, Inc. will post $4.34 EPS for the current year.

WMT has been the subject of several research analyst reports. KeyCorp initiated coverage on Wal-Mart Stores in a report on Thursday, September 29th. They issued an “overweight” rating and a $90.00 price objective for the company. Credit Suisse Group AG initiated coverage on Wal-Mart Stores in a report on Friday, September 16th. They issued an “outperform” rating and a $80.00 price objective for the company. Zacks Investment Research lowered Wal-Mart Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Guggenheim initiated coverage on Wal-Mart Stores in a report on Friday, September 30th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, JPMorgan Chase & Co. set a $72.00 price objective on Wal-Mart Stores and gave the company a “neutral” rating in a report on Monday, October 10th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Wal-Mart Stores has a consensus rating of “Hold” and a consensus price target of $74.96.

In other Wal-Mart Stores news, CEO C Douglas Mcmillon sold 75,063 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $69.08, for a total transaction of $5,185,352.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Alice L. Walton sold 2,100,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $71.44, for a total value of $150,024,000.00. Following the transaction, the insider now directly owns 6,748,580 shares in the company, valued at approximately $482,118,555.20. The disclosure for this sale can be found here. 51.55% of the stock is owned by corporate insiders.

About Wal-Mart Stores

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.

Related posts

Leave a Comment