K2 Principal Fund L.P. Invests $1.81 Million in Wal-Mart Stores Inc (WMT) Stock
K2 Principal Fund L.P. acquired a new position in shares of Wal-Mart Stores Inc (NYSE:WMT) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 23,200 shares of the retailer’s stock, valued at approximately $1,813,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WMT. Vanguard Group Inc. lifted its stake in Wal-Mart Stores by 0.4% in the second quarter. Vanguard Group Inc. now owns 105,673,654 shares of the retailer’s stock valued at $7,997,381,000 after buying an additional 440,343 shares during the last quarter. FMR LLC lifted its stake in Wal-Mart Stores by 45.3% in the second quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after buying an additional 5,608,785 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Wal-Mart Stores by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 14,579,702 shares of the retailer’s stock valued at $1,103,426,000 after buying an additional 580,373 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Wal-Mart Stores by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 9,263,738 shares of the retailer’s stock valued at $701,080,000 after buying an additional 174,296 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Wal-Mart Stores by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 8,919,633 shares of the retailer’s stock valued at $696,979,000 after buying an additional 45,217 shares during the last quarter. Hedge funds and other institutional investors own 30.53% of the company’s stock.
A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Wal-Mart Stores from a “buy” rating to a “hold” rating in a research note on Sunday. Macquarie set a $85.00 price target on Wal-Mart Stores and gave the company a “neutral” rating in a report on Thursday, January 18th. Goldman Sachs Group raised Wal-Mart Stores from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Stephens set a $117.00 price target on Wal-Mart Stores and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Vetr raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $104.38 price target on the stock in a report on Wednesday, January 10th. Nineteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $99.44.
Wal-Mart Stores Inc (WMT) opened at $105.45 on Tuesday. The stock has a market capitalization of $312,380.00, a PE ratio of 28.05, a P/E/G ratio of 4.14 and a beta of 0.37. Wal-Mart Stores Inc has a fifty-two week low of $65.28 and a fifty-two week high of $105.45. The company has a current ratio of 0.81, a quick ratio of 0.19 and a debt-to-equity ratio of 0.52.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings results on Thursday, November 16th. The retailer reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. The firm had revenue of $122.14 billion for the quarter, compared to analysts’ expectations of $120.23 billion. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. Wal-Mart Stores’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. analysts anticipate that Wal-Mart Stores Inc will post 4.44 EPS for the current year.
Wal-Mart Stores declared that its Board of Directors has authorized a share buyback program on Tuesday, October 10th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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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 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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