OVERSEA CHINESE BANKING Corp Ltd Increases Holdings in Walmart Inc. (NYSE:WMT)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Walmart Inc. (NYSE:WMT) by 2,049.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,606 shares of the retailer’s stock after buying an additional 134,064 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Walmart were worth $11,354,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in WMT. Vanguard Group Inc. raised its position in shares of Walmart by 199.4% during the 1st quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after buying an additional 274,229,968 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Walmart by 181.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after purchasing an additional 36,625,314 shares during the period. Swiss National Bank raised its position in Walmart by 187.4% in the 1st quarter. Swiss National Bank now owns 13,303,200 shares of the retailer’s stock worth $800,454,000 after purchasing an additional 8,674,100 shares during the period. Canada Pension Plan Investment Board raised its position in Walmart by 284.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock worth $669,227,000 after purchasing an additional 8,225,552 shares during the period. Finally, International Assets Investment Management LLC raised its position in Walmart by 8,814.4% in the 3rd quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock worth $562,280,000 after purchasing an additional 6,885,106 shares during the period. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Walmart Stock Performance

NYSE:WMT opened at $84.21 on Tuesday. The company’s 50-day moving average price is $80.67 and its 200-day moving average price is $72.27. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. The company has a market cap of $676.90 billion, a P/E ratio of 43.86, a P/E/G ratio of 4.25 and a beta of 0.51. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $85.54.

Walmart (NYSE:WMT) last issued its earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The company had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. Walmart’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder S Robson Walton sold 4,057,369 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares of the company’s stock, valued at approximately $47,245,498,149.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder S Robson Walton sold 4,057,369 shares of Walmart stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total value of $313,228,886.80. Following the completion of the transaction, the insider now owns 611,988,318 shares in the company, valued at approximately $47,245,498,149.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $81.04, for a total transaction of $1,063,650.00. Following the completion of the transaction, the executive vice president now owns 606,165 shares of the company’s stock, valued at $49,123,611.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,337,337 shares of company stock valued at $958,823,647. Company insiders own 45.58% of the company’s stock.

Analyst Upgrades and Downgrades

WMT has been the topic of a number of recent analyst reports. Guggenheim increased their price objective on shares of Walmart from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Tigress Financial upped their target price on shares of Walmart from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Wells Fargo & Company upped their target price on shares of Walmart from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, TD Cowen upped their target price on shares of Walmart from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $83.92.

Walmart Company 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.