Wal-Mart Stores stated that its board of directors had initiated a stock repurchase program on Tuesday, October 10, authorizing the company to repurchase $ 20.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to buy shares of its shares through purchases in the open market. Stock repurchase programs generally indicate that the company's leadership believes its shares are undervalued.
In other news, the main shareholder Jim C. Walton sold 1,319,133 shares of Wal-Mart Stores in a transaction on Tuesday, December 5. The stock was sold at an average price of $ 97.61, for a total transaction of $ 128,760,572.13. After the sale, the insider now has 11,057,224 shares in the company, valued at $ 1,079,295,634.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC's website. In addition, the knowledgeable Jacqueline P. Canney sold 2,065 shares of Wal-Mart Stores in a transaction on Monday, December 11. The stock was sold at an average price of $ 96.99, for a total value of $ 200,284.35. After the sale, the insider now owns 19,060 shares in the company, valued at approximately $ 1,848,629.40. The disclosure of this sale can be found here. Insiders have sold 12,419,588 shares of the company's stock worth $ 1,207,333,538 in the last quarter. Insiders owns 51.39% of the company's shares.
WMT has been the subject of several research analyst reports. The Goldman Sachs Group set a target price of $ 87.00 at Wal-Mart Stores and granted the stock a "buy" rating on a research report on Tuesday, October 3. Robert W. Baird set a target price of $ 90.00 at Wal-Mart Stores and gave the stock a "buy" rating on a research report on Tuesday, October 3. JPMorgan Chase & Co. reformulated a "neutral" rating and set a target price of $ 84.00 (up to $ 80.00) in Wal-Mart Stores shares in a research report on Friday, October 6. Oppenheimer assumed coverage at Wal-Mart Stores in a research note on Tuesday, October 10. They issued a "buy" rating and a price target of $ 90.00 in the stock. Finally, Bank of America set a target price of $ 100.00 at Wal-Mart Stores and awarded the company a "buy" rating on a research note on Tuesday, October 10. Eighteen analysts have rated the stock with a suspension rating, sixteen have issued a purchase rating and one has assigned a strong purchase rating to the company's stock. The stock has an average "Buy" rating and an average target price of $ 99.80.
BRAND VIOLATION NOTICE: This news was first published by The Ledger Gazette and is owned by The Ledger Gazette. If you are seeing this news in another publication, it was stolen illegally and republished in violation of the international copyright laws and the US. UU The legal version of this news can be read at https://ledgergazette.com/2018/01/27/4400-shares-in-wal-mart-stores-inc-wmt-acquired-by-parkside-investments-llc. html
About Wal-Mart Stores
Wal-Mart Stores, Inc. is engaged in the operation of retailers, wholesalers and other units in various formats throughout the world. The company operates through three segments: Walmart EE. UU., Walmart International and Sam & # 39; s Club. The US segment of Walmart includes its concept of a mass merchant in the United States that operates under the Walmart or Wal-Mart brands, as well as a digital retailer.
Receive news and ratings from Wal-Mart Stores Daily – Enter your email address below to receive a concise daily summary of the latest news and Analyst Estimates for Wal-Mart Stores and companies related to the free daily newsletter of MarketBeat.com.