Norden Group LLC grew its stake in Walmart Inc. (NYSE:WMT – Free Report) by 242.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,578 shares of the retailer’s stock after purchasing an additional 11,736 shares during the period. Norden Group LLC’s holdings in Walmart were worth $998,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of WMT. Baker Avenue Asset Management LP grew its position in Walmart by 26.0% in the 3rd quarter. Baker Avenue Asset Management LP now owns 5,324 shares of the retailer’s stock worth $852,000 after purchasing an additional 1,099 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in shares of Walmart by 30.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 9,414 shares of the retailer’s stock valued at $1,506,000 after acquiring an additional 2,206 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Walmart by 0.3% during the 3rd quarter. Townsquare Capital LLC now owns 58,333 shares of the retailer’s stock valued at $9,329,000 after acquiring an additional 158 shares in the last quarter. Essex Financial Services Inc. boosted its position in shares of Walmart by 1.5% during the 3rd quarter. Essex Financial Services Inc. now owns 9,017 shares of the retailer’s stock valued at $1,442,000 after acquiring an additional 132 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of Walmart by 5.2% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 30,105 shares of the retailer’s stock valued at $4,815,000 after acquiring an additional 1,490 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have commented on WMT. Citigroup boosted their price target on shares of Walmart from $63.33 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Barclays boosted their price target on shares of Walmart from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. TD Cowen boosted their price target on shares of Walmart from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Raymond James boosted their price target on shares of Walmart from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Finally, Jefferies Financial Group boosted their target price on shares of Walmart from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.47.
Walmart Stock Up 2.6 %
Walmart stock opened at $70.04 on Friday. The stock has a market capitalization of $563.37 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 3.93 and a beta of 0.50. The company has a 50 day moving average of $64.93 and a 200-day moving average of $59.90. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $70.15. The company has a quick ratio of 0.23, a current ratio of 0.80 and a debt-to-equity ratio of 0.48.
Walmart (NYSE:WMT – Get Free Report) last issued its quarterly earnings data on Thursday, May 16th. The retailer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $161.50 billion for the quarter, compared to analyst estimates of $159.57 billion. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, equities research analysts anticipate that Walmart Inc. will post 2.43 EPS for the current fiscal year.
Insider Buying and Selling
In related news, EVP John D. Rainey sold 25,578 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $67.58, for a total transaction of $1,728,561.24. Following the transaction, the executive vice president now directly owns 390,165 shares of the company’s stock, valued at $26,367,350.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP John D. Rainey sold 25,578 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $67.58, for a total transaction of $1,728,561.24. Following the transaction, the executive vice president now directly owns 390,165 shares of the company’s stock, valued at $26,367,350.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $68.39, for a total transaction of $1,991,790.36. Following the transaction, the chief executive officer now directly owns 3,960,402 shares in the company, valued at $270,851,892.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,525,340 shares of company stock valued at $953,023,399. 45.58% of the stock is owned by company insiders.
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.
See Also
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