Campbell Newman Asset Management Inc. trimmed its holdings in Wal-Mart Stores, Inc. (NYSE:WMT) by 37.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,706 shares of the retailer’s stock after selling 3,999 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Wal-Mart Stores were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Wellington Shields & Co. LLC lifted its position in shares of Wal-Mart Stores by 0.4% in the first quarter. Wellington Shields & Co. LLC now owns 3,661 shares of the retailer’s stock worth $264,000 after buying an additional 15 shares in the last quarter. AMG Funds LLC lifted its position in shares of Wal-Mart Stores by 1.0% in the first quarter. AMG Funds LLC now owns 32,489 shares of the retailer’s stock worth $2,342,000 after buying an additional 331 shares in the last quarter. Comerica Bank lifted its position in shares of Wal-Mart Stores by 1.2% in the first quarter. Comerica Bank now owns 599,496 shares of the retailer’s stock worth $45,226,000 after buying an additional 6,816 shares in the last quarter. Gargoyle Investment Advisor L.L.C. purchased a new stake in shares of Wal-Mart Stores in the first quarter worth about $2,577,000. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Wal-Mart Stores by 7.2% in the first quarter. Xact Kapitalforvaltning AB now owns 120,624 shares of the retailer’s stock worth $8,695,000 after buying an additional 8,110 shares in the last quarter. Institutional investors and hedge funds own 30.12% of the company’s stock.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 474,042 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $80.04, for a total value of $37,942,321.68. Following the transaction, the insider now directly owns 10,048,580 shares of the company’s stock, valued at approximately $804,288,343.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jim C. Walton sold 775,958 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $80.24, for a total transaction of $62,262,869.92. Following the completion of the transaction, the insider now directly owns 10,507,224 shares in the company, valued at $843,099,653.76. The disclosure for this sale can be found here. Insiders sold a total of 9,924,828 shares of company stock worth $785,676,492 over the last ninety days. 51.39% of the stock is currently owned by corporate insiders.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) opened at $91.09 on Wednesday. The company has a market capitalization of $272,100.00, a PE ratio of 20.85, a PEG ratio of 3.39 and a beta of 0.34. Wal-Mart Stores, Inc. has a 12-month low of $65.28 and a 12-month high of $91.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.18 and a current ratio of 0.78.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. The firm had revenue of $123.40 billion for the quarter, compared to analyst estimates of $121.86 billion. Wal-Mart Stores had a net margin of 2.60% and a return on equity of 16.87%. Wal-Mart Stores’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. analysts predict that Wal-Mart Stores, Inc. will post 4.37 earnings per share for the current fiscal year.
Wal-Mart Stores declared that its board has authorized a share buyback program on Tuesday, October 10th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts recently commented on the company. KeyCorp reiterated a “buy” rating and issued a $90.00 target price on shares of Wal-Mart Stores in a research report on Tuesday, September 19th. Zacks Investment Research cut Wal-Mart Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. J P Morgan Chase & Co reissued a “neutral” rating and set a $84.00 price objective (up from $80.00) on shares of Wal-Mart Stores in a research note on Friday, October 6th. Jefferies Group LLC set a $93.00 price objective on Wal-Mart Stores and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Wal-Mart Stores in a research note on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $87.54.
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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 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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