Skye Global Management LP Buys 74,500 Shares of Walmart Inc. (NYSE:WMT)

Skye Global Management LP grew its position in shares of Walmart Inc. (NYSE:WMT) by 252.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,000 shares of the retailer’s stock after purchasing an additional 74,500 shares during the quarter. Walmart comprises approximately 0.2% of Skye Global Management LP’s investment portfolio, making the stock its 25th largest position. Skye Global Management LP’s holdings in Walmart were worth $8,398,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its position in Walmart by 12.9% during the third quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock valued at $5,098,203,000 after acquiring an additional 7,200,004 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Walmart by 4.6% in the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock worth $3,848,533,000 after purchasing an additional 2,107,197 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Walmart by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock valued at $2,456,704,000 after acquiring an additional 644,353 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Walmart by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,236,769 shares of the retailer’s stock worth $2,522,369,000 after buying an additional 350,881 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Walmart by 1.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,273,933 shares of the retailer’s stock valued at $1,879,370,000 after acquiring an additional 228,121 shares during the period. 26.76% of the stock is owned by institutional investors.

Walmart Trading Up 0.6 %

Walmart stock opened at $91.88 on Friday. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $92.25. The firm’s fifty day moving average price is $83.08 and its 200-day moving average price is $74.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.23 and a current ratio of 0.85. The stock has a market cap of $738.55 billion, a P/E ratio of 37.71, a PEG ratio of 4.36 and a beta of 0.51.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The company had revenue of $169.59 billion for the quarter, compared to analysts’ expectations of $167.69 billion. During the same period in the prior year, the business earned $0.51 earnings per share. Walmart’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.

Insider Activity at Walmart

In related news, EVP John R. Furner sold 13,125 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.96, for a total value of $1,088,850.00. Following the completion of the sale, the executive vice president now owns 593,040 shares in the company, valued at $49,198,598.40. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $82.79, for a total transaction of $2,411,175.96. Following the transaction, the chief executive officer now directly owns 3,843,929 shares in the company, valued at $318,238,881.91. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,337,337 shares of company stock valued at $958,823,647 over the last 90 days. 45.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WMT. Robert W. Baird increased their target price on Walmart from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Stifel Nicolaus boosted their target price on shares of Walmart from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. Truist Financial upped their target price on shares of Walmart from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Telsey Advisory Group lifted their price target on Walmart from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group increased their price objective on Walmart from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.88.

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.