Independence Bank of Kentucky Raises Stock Holdings in Walmart Inc. (NYSE:WMT)

Independence Bank of Kentucky grew its holdings in Walmart Inc. (NYSE:WMT) by 32.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,859 shares of the retailer’s stock after buying an additional 12,559 shares during the quarter. Walmart accounts for 0.7% of Independence Bank of Kentucky’s investment portfolio, making the stock its 28th largest position. Independence Bank of Kentucky’s holdings in Walmart were worth $4,685,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in Walmart during the 3rd quarter worth approximately $26,000. Fiduciary Advisors Inc. acquired a new stake in shares of Walmart in the fourth quarter worth approximately $27,000. Voisard Asset Management Group Inc. increased its position in shares of Walmart by 77.3% during the third quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Walmart in the 4th quarter valued at $32,000. Finally, Hoese & Co LLP acquired a new stake in Walmart during the 3rd quarter worth $33,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Walmart

In related news, EVP Daniel J. Bartlett sold 1,830 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.07, for a total transaction of $166,658.10. Following the completion of the transaction, the executive vice president now directly owns 460,705 shares in the company, valued at $41,956,404.35. This represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $92.96, for a total value of $1,220,100.00. Following the completion of the sale, the executive vice president now owns 568,626 shares in the company, valued at $52,859,472.96. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,177 shares of company stock worth $12,649,328 over the last ninety days. Company insiders own 45.58% of the company’s stock.

Wall Street Analysts Forecast Growth

WMT has been the subject of a number of recent research reports. Barclays increased their target price on shares of Walmart from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. KeyCorp boosted their target price on Walmart from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Bank of America increased their price target on Walmart from $95.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. TD Cowen upped their target price on Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley lifted their price target on Walmart from $100.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.11.

Walmart Price Performance

Shares of NYSE WMT opened at $97.97 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $787.00 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 4.46 and a beta of 0.55. Walmart Inc. has a twelve month low of $55.04 and a twelve month high of $99.00. The business has a 50 day simple moving average of $93.07 and a 200-day simple moving average of $83.19.

Walmart (NYSE:WMT) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 company earned $0.51 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Walmart Inc. will post 2.48 earnings per share for the current year.

About Walmart

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.