Financial Advantage Inc. grew its holdings in Walmart Inc (NYSE:WMT) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 80,509 shares of the retailer’s stock after acquiring an additional 546 shares during the period. Walmart accounts for approximately 5.7% of Financial Advantage Inc.’s investment portfolio, making the stock its 4th biggest holding. Financial Advantage Inc.’s holdings in Walmart were worth $7,561,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WMT. Bank of Montreal Can purchased a new stake in Walmart in the 2nd quarter worth approximately $624,899,000. Putnam Investments LLC lifted its holdings in Walmart by 836.2% in the 2nd quarter. Putnam Investments LLC now owns 5,511,548 shares of the retailer’s stock worth $472,064,000 after buying an additional 4,922,857 shares during the period. Renaissance Technologies LLC lifted its holdings in Walmart by 1,431.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,322,500 shares of the retailer’s stock worth $284,572,000 after buying an additional 3,105,600 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Walmart in the 2nd quarter worth approximately $265,661,000. Finally, Cornerstone Wealth Management LLC lifted its holdings in Walmart by 8,606.2% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,818,288 shares of the retailer’s stock worth $21,648,000 after buying an additional 1,797,403 shares during the period. Institutional investors and hedge funds own 29.42% of the company’s stock.
In related news, major shareholder Alice L. Walton sold 594,396 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $98.28, for a total transaction of $58,417,238.88. Following the completion of the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at approximately $663,250,442.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alice L. Walton sold 286,762 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $96.17, for a total value of $27,577,901.54. Following the transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $649,010,938.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,199,130 shares of company stock valued at $976,228,654. 51.11% of the stock is owned by corporate insiders.
WMT opened at $102.91 on Tuesday. Walmart Inc has a 52 week low of $81.78 and a 52 week high of $109.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.93 and a quick ratio of 0.34. The company has a market capitalization of $300.21 billion, a PE ratio of 23.28, a PEG ratio of 4.19 and a beta of 0.35.
Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 16th. The retailer reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.07. Walmart had a return on equity of 18.16% and a net margin of 1.02%. The company had revenue of $127.06 billion during the quarter, compared to analyst estimates of $124.67 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts expect that Walmart Inc will post 4.77 earnings per share for the current fiscal year.
WMT has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Walmart to $108.00 and gave the stock a “neutral” rating in a report on Monday, October 8th. Deutsche Bank upgraded Walmart from a “hold” rating to a “buy” rating and increased their price objective for the stock from $89.00 to $113.00 in a report on Tuesday, October 9th. BMO Capital Markets initiated coverage on Walmart in a report on Monday, September 17th. They issued an “outperform” rating and a $110.00 price objective for the company. Wells Fargo & Co reiterated a “neutral” rating and issued a $95.00 price objective on shares of Walmart in a report on Thursday, August 16th. Finally, Jefferies Financial Group set a $112.00 price objective on Walmart and gave the stock a “buy” rating in a report on Monday, August 27th. Eighteen analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Walmart presently has a consensus rating of “Buy” and a consensus price target of $103.16.
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, hayneedle.com, shoes.com, moosejaw.com, modcloth.com, bonobos.com, and samsclub.com; and mobile commerce and voice-activated commerce applications.
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