Cornerstone Wealth Group LLC raised its stake in shares of Walmart Inc (NYSE:WMT) by 242.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,697 shares of the retailer’s stock after acquiring an additional 23,148 shares during the quarter. Walmart makes up about 1.0% of Cornerstone Wealth Group LLC’s portfolio, making the stock its 26th biggest position. Cornerstone Wealth Group LLC’s holdings in Walmart were worth $3,881,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WMT. Krane Funds Advisors LLC acquired a new stake in shares of Walmart in the 2nd quarter worth $26,000. AllSquare Wealth Management LLC boosted its position in shares of Walmart by 235.3% in the 2nd quarter. AllSquare Wealth Management LLC now owns 285 shares of the retailer’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Mcmillion Capital Management Inc. purchased a new position in Walmart in the 2nd quarter worth $34,000. Shine Investment Advisory Services Inc. raised its stake in Walmart by 181.7% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 307 shares of the retailer’s stock worth $36,000 after acquiring an additional 198 shares during the last quarter. Finally, Litman Gregory Asset Management LLC purchased a new position in Walmart in the 2nd quarter worth $37,000. 30.15% of the stock is currently owned by institutional investors and hedge funds.
NYSE WMT opened at $119.44 on Friday. The stock has a 50-day simple moving average of $118.56 and a two-hundred day simple moving average of $111.26. The firm has a market capitalization of $338.07 billion, a P/E ratio of 24.33, a PEG ratio of 5.11 and a beta of 0.39. Walmart Inc has a fifty-two week low of $85.78 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.21 and a current ratio of 0.76.
Walmart (NYSE:WMT) last released its quarterly earnings data on Thursday, August 15th. The retailer reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.05. The business had revenue of $130.40 billion during the quarter, compared to analyst estimates of $129.32 billion. Walmart had a return on equity of 18.23% and a net margin of 2.48%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. As a group, analysts forecast that Walmart Inc will post 4.92 earnings per share for the current year.
In related news, insider John R. Furner sold 7,900 shares of Walmart stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $114.72, for a total value of $906,288.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Chojnowski sold 3,680 shares of Walmart stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $115.38, for a total value of $424,598.40. The disclosure for this sale can be found here. Company insiders own 51.11% of the company’s stock.
A number of equities analysts recently issued reports on WMT shares. BMO Capital Markets raised their target price on Walmart to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Goldman Sachs Group set a $123.00 target price on Walmart and gave the stock a “buy” rating in a research note on Thursday, August 15th. Gordon Haskett upgraded Walmart from an “accumulate” rating to a “buy” rating and raised their target price for the stock from $115.00 to $125.00 in a research note on Thursday, August 15th. Loop Capital raised their target price on Walmart to $115.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Finally, Raymond James raised their target price on Walmart from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Walmart has an average rating of “Buy” and an average price target of $118.41.
Walmart Company Profile
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, shoes.com, and samsclub.com; and mobile commerce applications.
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