FormulaFolio Investments LLC grew its stake in Walmart Inc. (NYSE:WMT) by 20.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,476 shares of the retailer’s stock after purchasing an additional 9,198 shares during the period. FormulaFolio Investments LLC’s holdings in Walmart were worth $7,622,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC lifted its position in shares of Walmart by 640.6% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 237 shares of the retailer’s stock valued at $28,000 after buying an additional 205 shares in the last quarter. Marquette Asset Management LLC purchased a new position in shares of Walmart during the 2nd quarter valued at approximately $34,000. Atlantic Trust LLC lifted its position in shares of Walmart by 42.0% during the 2nd quarter. Atlantic Trust LLC now owns 284 shares of the retailer’s stock valued at $34,000 after buying an additional 84 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in shares of Walmart during the 2nd quarter valued at approximately $36,000. Finally, Costello Asset Management INC purchased a new position in shares of Walmart during the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 29.34% of the company’s stock.
NYSE WMT opened at $144.71 on Friday. The stock has a market cap of $410.07 billion, a PE ratio of 23.08, a P/E/G ratio of 4.60 and a beta of 0.28. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 0.56. Walmart Inc. has a twelve month low of $102.00 and a twelve month high of $151.33. The stock has a fifty day simple moving average of $139.94 and a 200-day simple moving average of $129.14.
Walmart (NYSE:WMT) last announced its earnings results on Tuesday, August 18th. The retailer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.31. Walmart had a return on equity of 19.13% and a net margin of 3.30%. The company had revenue of $137.70 billion during the quarter, compared to analysts’ expectations of $133.77 billion. During the same period last year, the business posted $1.27 EPS. Walmart’s revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts predict that Walmart Inc. will post 5.28 EPS for the current year.
A number of brokerages have recently issued reports on WMT. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $137.00 target price on shares of Walmart in a research report on Friday, October 2nd. Telsey Advisory Group increased their price objective on Walmart from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. MKM Partners initiated coverage on Walmart in a research note on Wednesday, July 29th. They issued a “neutral” rating and a $147.00 price objective for the company. Credit Suisse Group reissued a “buy” rating and issued a $135.00 price objective on shares of Walmart in a research note on Monday, September 21st. Finally, Citigroup increased their price objective on Walmart from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $141.46.
In related news, EVP Marc E. Lore sold 85,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $129.22, for a total transaction of $10,983,700.00. Following the completion of the transaction, the executive vice president now directly owns 1,858,073 shares in the company, valued at approximately $240,100,193.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Alice L. Walton sold 752,085 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $137.20, for a total value of $103,186,062.00. Following the transaction, the insider now owns 11,323,580 shares of the company’s stock, valued at $1,553,595,176. The disclosure for this sale can be found here. Insiders have sold a total of 1,011,690 shares of company stock valued at $138,850,587 over the last 90 days. 50.43% of the stock is currently owned by company insiders.
Walmart Inc engages in the retail and wholesale operations in various formats worldwide. The company operates in 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; ecommerce websites, such as walmart.com, walmart.com.mx, asda.com, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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