Pzena Investment Management LLC Raises Position in Wal-Mart Stores Inc (WMT)

Pzena Investment Management LLC lifted its stake in shares of Wal-Mart Stores Inc (NYSE:WMT) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,201,567 shares of the retailer’s stock after acquiring an additional 67,231 shares during the period. Wal-Mart Stores accounts for approximately 2.1% of Pzena Investment Management LLC’s portfolio, making the stock its 13th biggest holding. Pzena Investment Management LLC owned 0.17% of Wal-Mart Stores worth $406,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Global X MANAGEMENT CO LLC raised its holdings in shares of Wal-Mart Stores by 11.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 15,005 shares of the retailer’s stock valued at $1,172,000 after buying an additional 1,534 shares during the period. Alps Advisors Inc. raised its holdings in shares of Wal-Mart Stores by 24.8% during the 3rd quarter. Alps Advisors Inc. now owns 21,241 shares of the retailer’s stock valued at $1,660,000 after buying an additional 4,217 shares during the period. Jennison Associates LLC raised its holdings in shares of Wal-Mart Stores by 8.0% during the 3rd quarter. Jennison Associates LLC now owns 1,753,957 shares of the retailer’s stock valued at $137,054,000 after buying an additional 129,832 shares during the period. Candriam Luxembourg S.C.A. grew its stake in Wal-Mart Stores by 15.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 41,247 shares of the retailer’s stock valued at $3,223,000 after purchasing an additional 5,624 shares in the last quarter. Finally, Pitcairn Co. grew its stake in Wal-Mart Stores by 4.6% during the 3rd quarter. Pitcairn Co. now owns 14,121 shares of the retailer’s stock valued at $1,104,000 after purchasing an additional 620 shares in the last quarter. 30.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of Wal-Mart Stores Inc (NYSE WMT) opened at $105.90 on Wednesday. Wal-Mart Stores Inc has a 12 month low of $65.28 and a 12 month high of $106.14. The company has a quick ratio of 0.19, a current ratio of 0.81 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $313,720.00, a price-to-earnings ratio of 28.16, a PEG ratio of 4.14 and a beta of 0.37.

Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings data on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. Wal-Mart Stores had a return on equity of 16.92% and a net margin of 2.31%. The company had revenue of $122.14 billion for the quarter, compared to the consensus estimate of $120.23 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts forecast that Wal-Mart Stores Inc will post 4.44 earnings per share for the current fiscal year.

Wal-Mart Stores declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 10th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other news, major shareholder Alice L. Walton sold 2,900,679 shares of Wal-Mart Stores stock in a transaction on Friday, November 17th. The stock was sold at an average price of $97.82, for a total transaction of $283,744,419.78. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at $660,146,095.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 2,065 shares of Wal-Mart Stores stock in a transaction on Monday, December 11th. The shares were sold at an average price of $96.99, for a total value of $200,284.35. Following the transaction, the insider now owns 19,060 shares in the company, valued at approximately $1,848,629.40. The disclosure for this sale can be found here. Insiders sold a total of 12,419,588 shares of company stock worth $1,207,333,538 in the last three months. Company insiders own 51.39% of the company’s stock.

WMT has been the subject of a number of recent analyst reports. CIBC decreased their target price on Wal-Mart Stores from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, November 15th. Stephens set a $117.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Vetr upgraded Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $104.38 target price for the company in a research report on Wednesday, January 10th. Telsey Advisory Group decreased their target price on Wal-Mart Stores from $108.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, November 17th. Finally, Citigroup upgraded Wal-Mart Stores from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $106.00 to $117.00 in a research report on Tuesday, December 19th. Nineteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $99.44.

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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.

Institutional Ownership by Quarter for Wal-Mart Stores (NYSE:WMT)

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