Asset Advisors Investment Management LLC Buys New Stake in Walmart Inc (WMT)
Asset Advisors Investment Management LLC bought a new stake in shares of Walmart Inc (NYSE:WMT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 54,070 shares of the retailer’s stock, valued at approximately $5,078,000.
Several other institutional investors also recently added to or reduced their stakes in WMT. CSat Investment Advisory L.P. bought a new stake in Walmart during the 2nd quarter valued at $111,000. Amussen Hunsaker Associates LLC bought a new stake in Walmart during the 2nd quarter valued at $152,000. ELM Advisors LLC bought a new stake in Walmart during the 3rd quarter valued at $152,000. Kiley Juergens Wealth Management LLC bought a new stake in Walmart during the 2nd quarter valued at $165,000. Finally, MinichMacGregor Wealth Management LLC increased its stake in Walmart by 56.0% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,753 shares of the retailer’s stock valued at $165,000 after purchasing an additional 629 shares in the last quarter. Institutional investors own 29.40% of the company’s stock.
WMT has been the subject of a number of recent research reports. Telsey Advisory Group boosted their price target on shares of Walmart from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. Argus set a $112.00 price target on shares of Walmart and gave the company a “buy” rating in a research note on Friday, August 17th. Goldman Sachs Group set a $101.00 price target on shares of Walmart and gave the company a “neutral” rating in a research note on Friday, September 14th. Morgan Stanley restated a “neutral” rating and set a $98.00 price target on shares of Walmart in a research note on Thursday, October 4th. Finally, Royal Bank of Canada set a $101.00 price target on shares of Walmart and gave the company a “neutral” rating in a research note on Monday, September 3rd. Eighteen research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $103.16.
Walmart (NYSE:WMT) last posted its earnings results on Thursday, August 16th. The retailer reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.07. Walmart had a net margin of 1.02% and a return on equity of 18.16%. The firm had revenue of $127.06 billion during the quarter, compared to analyst estimates of $124.67 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Analysts forecast that Walmart Inc will post 4.77 earnings per share for the current fiscal year.
In related news, Director S Robson Walton sold 807,654 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $94.46, for a total transaction of $76,290,996.84. Following the completion of the transaction, the director now owns 3,347,254 shares in the company, valued at $316,181,612.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Alice L. Walton sold 286,762 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $96.17, for a total transaction of $27,577,901.54. Following the transaction, the insider now 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 quarter, insiders sold 10,199,130 shares of company stock valued at $976,228,654. Company insiders own 51.11% of the company’s stock.
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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