Utah Retirement Systems Lowers stake in Wal-Mart Stores (WMT)

Wal-Mart Stores (WMT) : Utah Retirement Systems reduced its stake in Wal-Mart Stores by 2.53% during the most recent quarter end. The investment management company now holds a total of 277,230 shares of Wal-Mart Stores which is valued at $20,221,156 after selling 7,200 shares in Wal-Mart Stores , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Wal-Mart Stores makes up approximately 0.52% of Utah Retirement Systems’s portfolio.

Other Hedge Funds, Including , Cadence Capital Management reduced its stake in WMT by selling 17,609 shares or 9.54% in the most recent quarter. The Hedge Fund company now holds 166,961 shares of WMT which is valued at $12,178,135. Wal-Mart Stores makes up approx 0.89% of Cadence Capital Management’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in WMT by selling 137,180 shares or 32.66% in the most recent quarter. The Hedge Fund company now holds 282,882 shares of WMT which is valued at $20,641,900. Wal-Mart Stores makes up approx 0.37% of Kornitzer Capital Management Inc Ks’s portfolio.American Century Companies Inc reduced its stake in WMT by selling 971,726 shares or 14.2% in the most recent quarter. The Hedge Fund company now holds 5,869,503 shares of WMT which is valued at $430,351,960. Wal-Mart Stores makes up approx 0.48% of American Century Companies Inc’s portfolio.Farmers Trust Co boosted its stake in WMT in the latest quarter, The investment management firm added 14,295 additional shares and now holds a total of 70,665 shares of Wal-Mart Stores which is valued at $5,197,411. Wal-Mart Stores makes up approx 1.64% of Farmers Trust Co’s portfolio.

Wal-Mart Stores closed down -0.42 points or -0.57% at $73.34 with 65,77,187 shares getting traded on Monday. Post opening the session at $74, the shares hit an intraday low of $73.04 and an intraday high of $74.07 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Wal-Mart Stores reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 19, 2016. Analyst had a consensus of $0.88. The company had revenue of $114986.00 million for the quarter, compared to analysts expectations of $112675.79 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Many Wall Street Analysts have commented on Wal-Mart Stores. Wal-Mart Stores was Downgraded by Northcoast to ” Neutral” on Jul 12, 2016. Nomura Resumed Wal-Mart Stores on Jun 23, 2016 to “Buy”, Price Target of the shares are set at $81.Company shares were Upgraded by Jefferies on Jun 6, 2016 to ” Buy”, Firm has raised the Price Target to $ 82 from a previous price target of $60 .

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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