Keystone Financial Group Raises Holdings in Walmart Inc. (NYSE:WMT)

Keystone Financial Group raised its position in Walmart Inc. (NYSE:WMT) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 21,623 shares of the retailer’s stock after purchasing an additional 1,285 shares during the period. Keystone Financial Group’s holdings in Walmart were worth $1,954,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Walmart during the 4th quarter valued at about $5,737,355,000. Raymond James Financial Inc. purchased a new stake in shares of Walmart in the fourth quarter valued at approximately $2,306,627,000. Jennison Associates LLC grew its position in shares of Walmart by 37.1% in the fourth quarter. Jennison Associates LLC now owns 25,339,448 shares of the retailer’s stock valued at $2,289,419,000 after purchasing an additional 6,860,189 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Walmart by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 32,020,800 shares of the retailer’s stock valued at $2,893,079,000 after purchasing an additional 3,927,173 shares during the last quarter. Finally, APG Asset Management N.V. lifted its position in Walmart by 1,707.6% during the fourth quarter. APG Asset Management N.V. now owns 3,718,058 shares of the retailer’s stock worth $324,410,000 after buying an additional 3,512,368 shares in the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Stock Up 2.4 %

WMT stock opened at $92.81 on Friday. The stock has a market cap of $744.03 billion, a P/E ratio of 38.51, a PEG ratio of 4.42 and a beta of 0.69. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. Walmart Inc. has a twelve month low of $58.56 and a twelve month high of $105.30. The company’s 50 day moving average is $92.43 and its two-hundred day moving average is $89.88.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The firm had revenue of $180.55 billion for the quarter, compared to analyst estimates of $178.83 billion. Research analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be given a $0.235 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.01%. Walmart’s dividend payout ratio (DPR) is presently 39.00%.

Insider Buying and Selling

In other news, EVP John D. Rainey sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $88.66, for a total transaction of $195,052.00. Following the transaction, the executive vice president now directly owns 398,024 shares in the company, valued at approximately $35,288,807.84. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the completion of the transaction, the chief executive officer now directly owns 3,972,517 shares in the company, valued at $340,166,630.71. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,852 shares of company stock worth $16,785,080 in the last quarter. 45.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WMT shares. JPMorgan Chase & Co. raised their target price on Walmart from $97.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial lifted their target price on shares of Walmart from $98.00 to $111.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. DZ Bank raised shares of Walmart from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Tuesday, February 25th. Jefferies Financial Group lifted their price target on shares of Walmart from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler increased their price objective on Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.58.

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.