CIBC Asset Management Inc Raises Stock Holdings in Walmart Inc. (NYSE:WMT)

CIBC Asset Management Inc raised its position in shares of Walmart Inc. (NYSE:WMT) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 749,709 shares of the retailer’s stock after buying an additional 60,859 shares during the quarter. CIBC Asset Management Inc’s holdings in Walmart were worth $60,539,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Voisard Asset Management Group Inc. grew its holdings in Walmart by 77.3% in 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 during the period. Hoese & Co LLP purchased a new stake in shares of Walmart in the 3rd quarter worth approximately $33,000. EntryPoint Capital LLC bought a new position in Walmart during the 1st quarter valued at approximately $25,000. TruNorth Capital Management LLC raised its stake in Walmart by 138.3% during the second quarter. TruNorth Capital Management LLC now owns 429 shares of the retailer’s stock valued at $29,000 after buying an additional 249 shares during the last quarter. Finally, Cultivar Capital Inc. bought a new stake in Walmart in the second quarter worth $29,000. Institutional investors own 26.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WMT. Royal Bank of Canada upped their price target on shares of Walmart from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. The Goldman Sachs Group increased their price target on shares of Walmart from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Walmart from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Roth Mkm increased their target price on Walmart from $71.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus lifted their target price on Walmart from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Walmart currently has a consensus rating of “Buy” and a consensus target price of $84.84.

Walmart Price Performance

Shares of Walmart stock opened at $84.47 on Friday. The firm has a market cap of $678.99 billion, a PE ratio of 43.92, a P/E/G ratio of 4.27 and a beta of 0.51. The business has a 50-day moving average price of $80.99 and a 200 day moving average price of $72.53. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. Walmart Inc. has a twelve month low of $49.85 and a twelve month high of $85.79.

Walmart (NYSE:WMT) last posted its quarterly earnings data on Thursday, August 15th. The retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same period last year, the firm posted $0.61 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Activity at Walmart

In other news, major shareholder S Robson Walton sold 4,057,369 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the completion of the sale, the insider now owns 611,988,318 shares in the company, valued at $47,245,498,149.60. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alice L. Walton sold 2,709,163 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $77.37, for a total value of $209,607,941.31. Following the completion of the transaction, the insider now owns 630,501,148 shares in the company, valued at $48,781,873,820.76. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,337,337 shares of company stock valued at $958,823,647. 45.58% of the stock is owned by insiders.

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.