Cullinan Associates Inc Lowers stake in Wal-Mart Stores (WMT)

Wal-Mart Stores (WMT) : Cullinan Associates Inc reduced its stake in Wal-Mart Stores by 0.07% during the most recent quarter end. The investment management company now holds a total of 3,384,037 shares of Wal-Mart Stores which is valued at $242,533,932 after selling 2,310 shares in Wal-Mart Stores , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Wal-Mart Stores makes up approximately 20.87% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in WMT in the latest quarter, The investment management firm added 1,159 additional shares and now holds a total of 17,936 shares of Wal-Mart Stores which is valued at $1,285,473. Wal-Mart Stores makes up approx 0.27% of Beacon Financial Group’s portfolio.

Wal-Mart Stores closed down -0.26 points or -0.36% at $71.75 with 65,69,284 shares getting traded on Tuesday. Post opening the session at $72, the shares hit an intraday low of $71.55 and an intraday high of $72.57 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Wal-Mart Stores reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $1.02. The company had revenue of $119405.00 million for the quarter, compared to analysts expectations of $119327.18 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.

Many Wall Street Analysts have commented on Wal-Mart Stores. KeyBanc Capital Mkts Initiated Wal-Mart Stores on Sep 30, 2016 to “Overweight”, Price Target of the shares are set at $90.Wal-Mart Stores was Initiated by Guggenheim to “Buy” on Sep 30, 2016. Wal-Mart Stores was Resumed by Credit Suisse to “Outperform” on Sep 16, 2016.

Wal-Mart Stores Inc. is engaged in the operation of retail wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company’s operations are conducted in three segments: Walmart U.S. Walmart International and Sam’s Club. The Walmart U.S. segment operates retail stores in all 50 states in the United States Washington D.C. and Puerto Rico with three primary store formats as well as digital retail. The Walmart International segment consists of operations in 26 countries outside of the United States and includes numerous formats divided into three main categories: retail wholesale and other. The Sam’s Club consists of membership-only warehouse clubs and operates in 48 states in the United States and in Puerto Rico as well as digital retail.

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