Peconic Partners LLC purchased a new stake in Wal-Mart Stores, Inc. (NYSE:WMT) during the third quarter, Holdings Channel reports. The institutional investor purchased 150,000 shares of the retailer’s stock, valued at approximately $10,818,000. Wal-Mart Stores comprises 1.4% of Peconic Partners LLC’s holdings, making the stock its 17th largest position.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Piershale Financial Group Inc. increased its position in shares of Wal-Mart Stores by 0.3% in the third quarter. Piershale Financial Group Inc. now owns 1,612 shares of the retailer’s stock valued at $116,000 after buying an additional 5 shares in the last quarter. Vantage Investment Advisors LLC increased its position in shares of Wal-Mart Stores by 0.4% in the third quarter. Vantage Investment Advisors LLC now owns 2,118 shares of the retailer’s stock valued at $153,000 after buying an additional 8 shares in the last quarter. WealthTrust Arizona LLC increased its position in shares of Wal-Mart Stores by 0.5% in the third quarter. WealthTrust Arizona LLC now owns 2,549 shares of the retailer’s stock valued at $184,000 after buying an additional 13 shares in the last quarter. Wellington Shields & Co. LLC increased its position in shares of Wal-Mart Stores by 0.4% in the third quarter. Wellington Shields & Co. LLC now owns 3,646 shares of the retailer’s stock valued at $263,000 after buying an additional 15 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Wal-Mart Stores by 0.6% in the third quarter. Blue Bell Private Wealth Management LLC now owns 2,576 shares of the retailer’s stock valued at $186,000 after buying an additional 16 shares in the last quarter. Institutional investors own 29.53% of the company’s stock.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT) opened at 68.02 on Friday. The stock has a market cap of $209.04 billion, a PE ratio of 14.75 and a beta of 0.09. Wal-Mart Stores, Inc. has a 52-week low of $62.35 and a 52-week high of $75.19. The company’s 50-day moving average price is $67.82 and its 200-day moving average price is $70.38.
Wal-Mart Stores (NYSE:WMT) last announced its earnings results on Thursday, November 17th. The retailer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $118.20 billion for the quarter, compared to analysts’ expectations of $118.69 billion. Wal-Mart Stores had a return on equity of 17.71% and a net margin of 2.98%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. On average, equities research analysts forecast that Wal-Mart Stores, Inc. will post $4.33 earnings per share for the current fiscal year.
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WMT has been the subject of several analyst reports. Zacks Investment Research upgraded Wal-Mart Stores from a “sell” rating to a “hold” rating in a research note on Monday, October 24th. Barclays PLC restated an “overweight” rating and issued a $82.00 target price on shares of Wal-Mart Stores in a research note on Sunday, November 13th. Stifel Nicolaus began coverage on Wal-Mart Stores in a research note on Thursday, January 19th. They issued a “hold” rating and a $70.00 target price for the company. Wells Fargo & Company reiterated a “market perform” rating on shares of Wal-Mart Stores in a research report on Thursday, January 26th. Finally, Piper Jaffray Companies began coverage on Wal-Mart Stores in a research report on Friday, October 21st. They set a “neutral” rating and a $73.00 price target for the company. Five analysts have rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $74.46.
In other Wal-Mart Stores news, CEO C Douglas Mcmillon sold 75,063 shares of the stock in a transaction 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Rosalind G. Brewer sold 32,350 shares of the stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $68.32, for a total value of $2,210,152.00. Following the sale, the insider now directly owns 245,328 shares in the company, valued at approximately $16,760,808.96. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by company 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 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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