Wal-Mart Stores, Inc. (NYSE:WMT) was founded in 1962, and since that time, the company has grown to be the world’s largest by revenue. Now comes news from a special investigation by the Associated Press that Wal-Mart may be selling shrimp that has been peeled by slaves in Thailand.
Wal-Mart Stores, Inc. (NYSE:WMT), according to the report is not the only U.S. based company that has been selling these slave-peeled shellfish, unknowingly. Kroger, Petco, Dollar General, Red Lobster, and Olive Garden may all have sold these same shrimp to customers.
It is through human trafficking that these Thailand run operations have been able to succeed, making the country one of the world’s top shrimp producers.
Wal-Mart (NYSE:WMT) stock is down 1.09% or $0.66 following the news, hitting $59.73 per share. Approximately 10.58 million shares traded hands. WMT shares have declined 23.52% since May 12, 2015 and are currently downtrending. It has underperformed the S&P500 by 19.84%.
From a total of 22 analysts covering Wal-Mart Stores Inc (NYSE:WMT) stock, 4 rate it a “Buy”, 1 a “Sell”, and 17 a “Hold”. This means that 18% of the ratings are positive. The highest target price is $84 while the lowest target price is $55. The mean of all analyst targets is $67.55 which is 13.09% above today’s ($59.73) stock price. Wal-Mart Stores Inc was the topic of 36 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. M Partners maintained shares on November 18 with a “Neutral” rating. Credit Suisse downgraded shares to a”Neutral” rating and a $62 target share price in their report from an October 15. Citigroup initiated WMT stock in a recent report from November 9 with a “Neutral” rating. Bank of America downgraded the rating on October 15. Bank of America has a “Neutral” rating and a $65 price target on shares. Finally, S&P Research downgraded the stock to a “Hold” rating in a report they issued on an October 15.
The institutional sentiment increased to 1 in Q2 2015. It’s up 0.01, from 0.99 in 2015Q2. The ratio improved, as 106 funds sold all their Wal-Mart Stores, Inc. shares they owned while 518 reduced their positions. 86 funds bought stakes while 537 increased their total positions. Institutions now own 869.10 million shares which is 10.24% less than the previous share count of 968.23 million in 2015Q2.
Cook & Bynum Capital Management Llc holds 20.48% of its total portfolio in Wal-Mart Stores, Inc., equating to 529,529 shares. Cullinan Associates Inc owns 3.35 million shares representing 19.87% of their total US portfolio. Moreover, Rwwm Inc. has 15.74% of their total portfolio invested in the company, equating to 488,323 shares. The New York-based Gabalex Capital Management Llc has a total of 12.62% of their portfolio invested in the stock. General Re New England Asset Management Inc, a Connecticut-based fund reported 7.36 million shares owned.
Wal-Mart Stores, Inc. is engaged in the operation of retail, wholesale and other units in various formats around the world. The company has a market cap of $192.30 billion. The Firm offers an assortment of merchandise and services at everyday low prices . It has 12.81 P/E ratio. The Company’s activities are conducted in three divisions: Walmart U.S., Walmart International and Sam’s Club.