City Holding Co. bought a new stake in Walmart Inc (NYSE:WMT) during the 2nd quarter, HoldingsChannel reports. The firm bought 45,138 shares of the retailer’s stock, valued at approximately $3,866,000. Walmart comprises about 1.2% of City Holding Co.’s portfolio, making the stock its 14th largest position.
A number of other hedge funds also recently made changes to their positions in WMT. Bank of Montreal Can bought a new stake in Walmart in the second quarter valued at approximately $624,899,000. Putnam Investments LLC boosted its holdings in Walmart by 836.2% in the second quarter. Putnam Investments LLC now owns 5,511,548 shares of the retailer’s stock valued at $472,064,000 after acquiring an additional 4,922,857 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Walmart by 1,431.8% in the second quarter. Renaissance Technologies LLC now owns 3,322,500 shares of the retailer’s stock valued at $284,572,000 after acquiring an additional 3,105,600 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Walmart in the second quarter valued at approximately $265,661,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in Walmart by 8,606.2% in the second quarter. Cornerstone Wealth Management LLC now owns 1,818,288 shares of the retailer’s stock valued at $21,648,000 after acquiring an additional 1,797,403 shares during the last quarter. Institutional investors and hedge funds own 29.30% of the company’s stock.
WMT has been the topic of a number of research analyst reports. Wells Fargo & Co restated a “neutral” rating and set a $95.00 price target on shares of Walmart in a report on Thursday, August 16th. Jefferies Financial Group set a $112.00 price target on Walmart and gave the stock a “buy” rating in a report on Monday, August 27th. Morgan Stanley restated a “neutral” rating and set a $98.00 price target (up from $93.00) on shares of Walmart in a report on Thursday, August 16th. Morningstar set a $90.00 price target on Walmart and gave the stock a “neutral” rating in a report on Thursday, August 23rd. Finally, Stephens set a $115.00 price target on Walmart and gave the stock a “buy” rating in a report on Friday, August 17th. Nineteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Walmart currently has a consensus rating of “Buy” and an average price target of $101.37.
In related news, Director S Robson Walton sold 1,276,062 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $95.19, for a total value of $121,468,341.78. Following the completion of the sale, the director now directly owns 4,147,254 shares of the company’s stock, valued at approximately $394,777,108.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP M. Brett Biggs sold 18,421 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $96.14, for a total value of $1,770,994.94. Following the completion of the sale, the executive vice president now directly owns 185,557 shares of the company’s stock, valued at $17,839,449.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,590,876 shares of company stock worth $634,531,965. 51.11% of the stock is owned by company insiders.
Shares of WMT opened at $94.59 on Thursday. Walmart Inc has a 12-month low of $77.50 and a 12-month high of $109.98. The company has a current ratio of 0.93, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $281.19 billion, a P/E ratio of 21.40, a PEG ratio of 3.34 and a beta of 0.51.
Walmart (NYSE:WMT) last issued its earnings results on Thursday, August 16th. The retailer reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07. Walmart had a return on equity of 18.16% and a net margin of 1.02%. The company had revenue of $127.06 billion for the quarter, compared to analysts’ expectations of $124.67 billion. During the same period last year, the business earned $1.08 EPS. Walmart’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts forecast that Walmart Inc will post 4.8 earnings per share for the current fiscal year.
Walmart Company Profile
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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