Old North State Wealth Management LLC Takes $246,000 Position in Walmart Inc. (NYSE:WMT)

Old North State Wealth Management LLC purchased a new position in shares of Walmart Inc. (NYSE:WMT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,046 shares of the retailer’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Walmart by 199.4% in the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after acquiring an additional 274,229,968 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Walmart by 181.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after purchasing an additional 36,625,314 shares during the period. Swiss National Bank boosted its stake in shares of Walmart by 187.4% in the first quarter. Swiss National Bank now owns 13,303,200 shares of the retailer’s stock valued at $800,454,000 after buying an additional 8,674,100 shares during the period. Canada Pension Plan Investment Board grew its position in Walmart by 284.0% during the first quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock worth $669,227,000 after buying an additional 8,225,552 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Walmart by 8,814.4% during the 3rd quarter. International Assets Investment Management LLC now owns 6,963,218 shares of the retailer’s stock worth $562,280,000 after acquiring an additional 6,885,106 shares during the period. 26.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WMT shares. Sanford C. Bernstein initiated coverage on Walmart in a report on Tuesday, October 22nd. They set an “outperform” rating and a $95.00 target price on the stock. Truist Financial raised Walmart from a “hold” rating to a “buy” rating and boosted their price target for the company from $76.00 to $89.00 in a research note on Tuesday, September 24th. DA Davidson boosted their price target on Walmart from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 16th. StockNews.com raised Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Guggenheim boosted their price target on Walmart from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $83.89.

Insider Activity at Walmart

In other Walmart news, EVP John D. Rainey sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total transaction of $232,440.00. Following the transaction, the executive vice president now directly owns 384,165 shares in the company, valued at approximately $29,765,104.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.48, for a total transaction of $232,440.00. Following the completion of the sale, the executive vice president now owns 384,165 shares of the company’s stock, valued at $29,765,104.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the sale, the insider now directly owns 619,646,544 shares of the company’s stock, valued at approximately $47,687,998,026.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,334,337 shares of company stock worth $958,577,287 over the last ninety days. Insiders own 45.58% of the company’s stock.

Walmart Stock Performance

Shares of WMT stock opened at $82.19 on Monday. The business’s 50 day simple moving average is $79.80 and its 200 day simple moving average is $71.25. Walmart Inc. has a one year low of $49.85 and a one year high of $83.34. The stock has a market capitalization of $660.66 billion, a PE ratio of 42.81, a PEG ratio of 4.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.22.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The business had revenue of $169.30 billion for the quarter, compared to analysts’ expectations of $168.56 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Walmart Inc. will post 2.44 earnings per share for the current year.

Walmart 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.