Smart Money Group LLC Takes $257,000 Position in Walmart Inc (WMT)
Smart Money Group LLC acquired a new stake in Walmart Inc (NYSE:WMT) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 2,739 shares of the retailer’s stock, valued at approximately $257,000.
Other institutional investors also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. bought a new position in shares of Walmart during the 2nd quarter worth approximately $111,000. Amussen Hunsaker Associates LLC bought a new position in shares of Walmart during the 2nd quarter worth approximately $152,000. ELM Advisors LLC bought a new position in shares of Walmart during the 3rd quarter worth approximately $152,000. Harvest Fund Management Co. Ltd bought a new position in shares of Walmart during the 3rd quarter worth approximately $162,000. Finally, Kiley Juergens Wealth Management LLC bought a new position in shares of Walmart during the 2nd quarter worth approximately $165,000. 29.42% of the stock is owned by institutional investors.
Several research firms recently commented on WMT. Morningstar set a $96.00 price objective on shares of Walmart and gave the stock a “sell” rating in a research note on Thursday. Cowen boosted their price objective on shares of Walmart from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, October 29th. Credit Suisse Group set a $85.00 price objective on shares of Walmart and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Guggenheim reiterated a “buy” rating and set a $110.00 price objective on shares of Walmart in a research note on Thursday, August 16th. Finally, Wells Fargo & Co reiterated a “neutral” rating and set a $95.00 price objective on shares of Walmart in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Walmart has an average rating of “Buy” and an average price target of $103.16.
Walmart (NYSE:WMT) last released its earnings results on Thursday, August 16th. The retailer reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.07. The company had revenue of $127.06 billion for the quarter, compared to the consensus estimate of $124.67 billion. Walmart had a net margin of 1.02% and a return on equity of 18.16%. Walmart’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, equities research analysts expect that Walmart Inc will post 4.77 earnings per share for the current year.
In other news, Director S Robson Walton sold 881,158 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $97.60, for a total value of $86,001,020.80. Following the sale, the director now directly owns 3,347,254 shares of the company’s stock, valued at approximately $326,691,990.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jim C. Walton sold 2,009,792 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $94.63, for a total transaction of $190,186,616.96. Following the completion of the sale, the insider now directly owns 10,557,224 shares in the company, valued at $999,030,107.12. The disclosure for this sale can be found here. Insiders sold a total of 10,199,130 shares of company stock worth $976,228,654 over the last ninety days. Insiders own 51.11% of the company’s stock.
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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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