Sumitomo Mitsui Trust Holdings Inc. increased its stake in Walmart Inc (NYSE:WMT) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,972,353 shares of the retailer’s stock after purchasing an additional 272,091 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Walmart were worth $425,882,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in WMT. Bank of Montreal Can bought a new position in Walmart in the 2nd quarter worth $624,899,000. Amundi Pioneer Asset Management Inc. raised its holdings in Walmart by 955.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,668,539 shares of the retailer’s stock worth $461,019,000 after purchasing an additional 4,226,117 shares during the period. Thomaspartners Inc. bought a new position in Walmart in the 1st quarter worth $229,117,000. Cornerstone Wealth Management LLC raised its holdings in Walmart by 8,606.2% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,818,288 shares of the retailer’s stock worth $21,648,000 after purchasing an additional 1,797,403 shares during the period. Finally, BlackRock Inc. raised its holdings in Walmart by 1.7% in the 1st quarter. BlackRock Inc. now owns 89,019,109 shares of the retailer’s stock worth $7,920,031,000 after purchasing an additional 1,467,055 shares during the period. 29.69% of the stock is currently owned by institutional investors.
WMT has been the topic of a number of recent research reports. Bank of America reaffirmed a “buy” rating and issued a $98.00 target price on shares of Walmart in a report on Friday, May 18th. Credit Suisse Group set a $102.00 target price on Walmart and gave the stock a “hold” rating in a report on Tuesday, May 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $98.00 target price on shares of Walmart in a report on Monday, April 30th. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Walmart in a report on Friday, May 11th. Finally, Morgan Stanley reaffirmed a “neutral” rating and issued a $93.00 target price on shares of Walmart in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Walmart has a consensus rating of “Hold” and an average price target of $96.59.
Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 17th. The retailer reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. The business had revenue of $122.69 billion during the quarter, compared to analyst estimates of $119.29 billion. Walmart had a return on equity of 17.16% and a net margin of 1.77%. Walmart’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. analysts expect that Walmart Inc will post 4.81 EPS for the current year.
In other news, major shareholder Alice L. Walton sold 1,499,270 shares of the firm’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $84.86, for a total transaction of $127,228,052.20. Following the completion of the transaction, the insider now owns 6,748,580 shares in the company, valued at $572,684,498.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director S Robson Walton sold 1,190,271 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $84.65, for a total value of $100,756,440.15. Following the transaction, the director now owns 3,347,254 shares of the company’s stock, valued at approximately $283,345,051.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,792,256 shares of company stock valued at $740,486,626. Company insiders own 51.11% of the company’s stock.
Walmart Inc engages in the retail and wholesale operations in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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