Wal-Mart's Online Sales Grew 63 Percent in First Quarter

Wal-Mart's Online Sales Grew 63 Percent in First Quarter

Stifel Nicolaus began coverage on Wal-Mart Stores in a research note on Thursday, January 19th. The stock has an average rating of "Hold" and an average target price of $76.73. $74.67's average target is -5.23% below currents $78.79 stock price. The RSI for Wal-Mart Stores, Inc. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company. Cleaner aisles, faster checkouts and fewer missing items have been the focus for Wal-Mart's US stores chief Greg Foran.

04/18/2017 - Wal-Mart Stores, Inc. had its "overweight" rating reiterated by analysts at KeyBanc. Wal-Mart Stores's revenue for the quarter was up 1.3% on a year-over-year basis. Company's distance from 20 day simple moving average is 2.99% and distance from 50-Day simple moving average is 6.77%.

EXPECTATIONS EXCEEDED: Autodesk vaulted 17 percent after the design software company raised its earnings forecast for the year and reported a loss in its latest quarter that was narrower than analysts were expecting. Adjusted earnings came to $1.21 per share, well above the 91 cents per share that Wall Street had expected according to FactSet.

Net sales at Sam's Club, the company's warehouse division, increased 2.8 percent to $14 billion in the quarter. The company now predicts that comparable sales will improve 2 percent for the second quarter.

Wal-Mart gained $2.42, or 3.2 percent, to $77.54, while L Brands rose $1.29, or 2.7 percent, to $49.69. The ex-dividend date is Wednesday, December 6th. The 10-year Treasury yield slipped to 2.21 percent from 2.22 percent late Wednesday.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece on another website, it was illegally stolen and republished in violation of United States & global copyright & trademark legislation. The rating was upgraded by KeyBanc Capital Markets to "Overweight" on Friday, April 1.

The quarterly results proved to be a rare bright spot in a quarter that many other retailers that are also brick and mortar struggled in their attempts to attract shoppers. Average True Range looks at the distance the price is traveling each day and plots it on a graph.

In other news, major shareholder Jim C. Walton sold 4,375,337 shares of the firm's stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $70.54, for a total transaction of $320,418,144.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,585,041 shares of company stock valued at $1,110,035,611.

Institutional investors have recently modified their holdings of the company.

Analysts at Global Data Retail said Wal-Mart's sharp focus on keeping prices down in grocery was winning some customers back and described growth in e-commerce as evidence of a business "in the ascendancy".

Wal-Mart said sales at USA stores open at least a year rose 1.4 percent, excluding fuel price fluctuations, and was the 11th consecutive quarterly increase. In March, it bought the trendy clothing seller ModCloth. (WMT) may be overvalued, however, this can also depend upon the situation of the market; if the market is strong then it could suggest that Wal-Mart Stores Inc. This was ahead of the 1.3% that the Street had called for and also marked the retailer's 11th straight quarter of seeing positive domestic sales growth. Finally, Dodge & Cox acquired a new position in shares of Wal-Mart Stores during the fourth quarter valued at about $1,503,922,000. Warren Averett Asset Management LLC now owns 7,216 shares of the retailer's stock worth $520,000 after buying an additional 529 shares during the period.

But he noted that Target and Wal-Mart can take advantage of their stores in this game as they increasingly cater to customers.

Walmart signage is displayed outside a company's store in Chicago, Illinois, U.S. November 23, 2016.