Belpointe Asset Management LLC Buys Shares of 3,554 Wal-Mart Stores Inc (WMT)
Belpointe Asset Management LLC bought a new position in Wal-Mart Stores Inc (NYSE:WMT) during the third quarter, HoldingsChannel reports. The firm bought 3,554 shares of the retailer’s stock, valued at approximately $278,000.
Several other institutional investors and hedge funds also recently modified their holdings of WMT. Thompson Davis & CO. Inc. boosted its stake in shares of Wal-Mart Stores by 456.9% in the second quarter. Thompson Davis & CO. Inc. now owns 1,526 shares of the retailer’s stock worth $115,000 after buying an additional 1,252 shares during the last quarter. Hudock Capital Group LLC boosted its position in Wal-Mart Stores by 0.4% during the second quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock worth $139,000 after purchasing an additional 7 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in Wal-Mart Stores during the second quarter worth approximately $149,000. Cable Hill Partners LLC boosted its position in Wal-Mart Stores by 8,165.4% during the third quarter. Cable Hill Partners LLC now owns 2,149 shares of the retailer’s stock worth $168,000 after purchasing an additional 2,123 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in Wal-Mart Stores during the third quarter worth approximately $183,000. Hedge funds and other institutional investors own 30.62% of the company’s stock.
In related news, EVP John R. Furner sold 1,200 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $99.29, for a total value of $119,148.00. Following the completion of the sale, the executive vice president now owns 48,757 shares of the company’s stock, valued at $4,841,082.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David Chojnowski sold 684 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $99.29, for a total value of $67,914.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,419,588 shares of company stock worth $1,207,333,538. Company insiders own 51.39% of the company’s stock.
Wal-Mart Stores (NYSE:WMT) last released its earnings results on Thursday, November 16th. The retailer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $122.14 billion for the quarter, compared to the consensus estimate of $120.23 billion. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. sell-side analysts expect that Wal-Mart Stores Inc will post 4.43 EPS for the current year.
A number of brokerages have issued reports on WMT. Barclays increased their price target on Wal-Mart Stores to $120.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Vetr upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $110.28 price target on the stock in a research report on Thursday, February 1st. ValuEngine upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Wal-Mart Stores in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research downgraded Wal-Mart Stores from a “buy” rating to a “hold” rating in a research report on Sunday, January 21st. Seventeen analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Wal-Mart Stores has an average rating of “Buy” and a consensus price target of $100.30.
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Wal-Mart Stores 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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