Safe Harbor Fiduciary LLC Acquires New Stake in Walmart Inc. (NYSE:WMT)

Safe Harbor Fiduciary LLC acquired a new stake in Walmart Inc. (NYSE:WMT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,710 shares of the retailer’s stock, valued at approximately $703,000.

Several other institutional investors have also bought and sold shares of the company. Summit Financial Wealth Advisors LLC lifted its stake in Walmart by 0.5% in the third quarter. Summit Financial Wealth Advisors LLC now owns 23,720 shares of the retailer’s stock valued at $1,915,000 after purchasing an additional 118 shares during the last quarter. Providence Wealth Advisors LLC lifted its stake in Walmart by 0.3% in the third quarter. Providence Wealth Advisors LLC now owns 43,549 shares of the retailer’s stock valued at $3,591,000 after purchasing an additional 122 shares during the last quarter. CAP Partners LLC lifted its position in shares of Walmart by 2.1% during the third quarter. CAP Partners LLC now owns 6,054 shares of the retailer’s stock worth $489,000 after acquiring an additional 125 shares in the last quarter. Investment Advisory Group LLC lifted its position in shares of Walmart by 2.1% during the third quarter. Investment Advisory Group LLC now owns 6,182 shares of the retailer’s stock worth $499,000 after acquiring an additional 126 shares in the last quarter. Finally, Jag Capital Management LLC lifted its position in shares of Walmart by 1.4% during the third quarter. Jag Capital Management LLC now owns 9,413 shares of the retailer’s stock worth $760,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on WMT. DZ Bank downgraded Walmart from a “buy” rating to a “hold” rating and set a $91.00 target price on the stock. in a research report on Thursday, November 21st. Truist Financial increased their target price on Walmart from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group increased their target price on Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Sanford C. Bernstein increased their target price on Walmart from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets upped their price target on shares of Walmart from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Two investment 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.11.

Walmart Stock Up 1.0 %

WMT opened at $94.45 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.23 and a current ratio of 0.85. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $94.51. The firm’s fifty day moving average is $84.11 and its 200 day moving average is $75.57. The stock has a market cap of $759.21 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 4.44 and a beta of 0.54.

Walmart (NYSE:WMT) last released its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $169.59 billion for the quarter, compared to analysts’ expectations of $167.69 billion. Walmart had a net margin of 2.92% and a return on equity of 21.78%. Walmart’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. On average, sell-side analysts forecast that Walmart Inc. will post 2.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Walmart news, major shareholder S Robson Walton sold 4,057,369 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $77.20, for a total transaction of $313,228,886.80. Following the sale, the insider now directly owns 611,988,318 shares in the company, valued at $47,245,498,149.60. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $80.64, for a total value of $2,348,559.36. Following the completion of the transaction, the chief executive officer now owns 3,873,053 shares of the company’s stock, valued at approximately $312,322,993.92. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,300,460 shares of company stock worth $570,820,065 in the last 90 days. 45.58% of the stock is currently owned by corporate insiders.

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.