Walmart Inc. (NYSE:WMT) Shares Bought by 49 Wealth Management LLC

49 Wealth Management LLC raised its position in Walmart Inc. (NYSE:WMT) by 77.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,988 shares of the retailer’s stock after purchasing an additional 7,390 shares during the quarter. 49 Wealth Management LLC’s holdings in Walmart were worth $1,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Horizon Financial Services LLC boosted its holdings in Walmart by 1,007.7% in the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after acquiring an additional 262 shares during the period. EQ Wealth Advisors LLC acquired a new position in shares of Walmart during the first quarter worth $35,000. Mizuho Bank Ltd. purchased a new position in shares of Walmart in the fourth quarter valued at $41,000. Nexus Investment Management ULC acquired a new stake in Walmart during the 1st quarter valued at $49,000. Finally, WealthTrak Capital Management LLC acquired a new stake in Walmart during the 4th quarter valued at $53,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Walmart from $107.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, May 16th. UBS Group decreased their price target on shares of Walmart from $112.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Walmart in a research note on Wednesday, March 26th. Citigroup restated a “buy” rating on shares of Walmart in a research note on Tuesday, May 6th. Finally, KeyCorp upped their target price on Walmart from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.67.

Insider Activity at Walmart

In related news, EVP John D. Rainey sold 2,200 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $98.44, for a total transaction of $216,568.00. Following the transaction, the executive vice president directly owned 628,318 shares of the company’s stock, valued at approximately $61,851,623.92. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Douglas Mcmillon sold 19,416 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $97.19, for a total value of $1,887,041.04. Following the completion of the sale, the chief executive officer directly owned 4,431,783 shares of the company’s stock, valued at approximately $430,724,989.77. This represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,711 shares of company stock valued at $13,710,319. Corporate insiders own 45.58% of the company’s stock.

Walmart Stock Performance

NYSE:WMT opened at $99.27 on Tuesday. The company has a 50-day moving average of $97.22 and a 200-day moving average of $94.41. The firm has a market cap of $792.22 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 4.73 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. Walmart Inc. has a twelve month low of $66.67 and a twelve month high of $105.30.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $165.61 billion during the quarter, compared to analysts’ expectations of $164.53 billion. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, May 9th. This represents a yield of 0.95%. Walmart’s payout ratio is presently 40.17%.

Walmart Profile

Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce 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, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.