Monterey Private Wealth Inc. Buys New Holdings in Walmart Inc. (NYSE:WMT)

Monterey Private Wealth Inc. purchased a new position in Walmart Inc. (NYSE:WMT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,293 shares of the retailer’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AMI Investment Management Inc. boosted its holdings in Walmart by 1.6% during the 1st quarter. AMI Investment Management Inc. now owns 8,269 shares of the retailer’s stock worth $1,231,000 after acquiring an additional 132 shares during the last quarter. Zions Bancorporation N.A. grew its position in Walmart by 36.8% in the 1st quarter. Zions Bancorporation N.A. now owns 4,820 shares of the retailer’s stock worth $718,000 after purchasing an additional 1,296 shares in the last quarter. Covestor Ltd increased its stake in Walmart by 31.7% in the 1st quarter. Covestor Ltd now owns 1,162 shares of the retailer’s stock valued at $173,000 after buying an additional 280 shares during the last quarter. Ergoteles LLC lifted its position in shares of Walmart by 123.9% during the 1st quarter. Ergoteles LLC now owns 10,566 shares of the retailer’s stock worth $1,573,000 after buying an additional 5,847 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Walmart by 1.7% in the 1st quarter. Mackenzie Financial Corp now owns 857,839 shares of the retailer’s stock worth $127,749,000 after buying an additional 13,985 shares during the last quarter. Institutional investors and hedge funds own 33.18% of the company’s stock.

Walmart Price Performance

Shares of WMT stock opened at $164.64 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.26 and a current ratio of 0.83. Walmart Inc. has a fifty-two week low of $128.07 and a fifty-two week high of $165.85. The firm has a market cap of $443.14 billion, a P/E ratio of 31.66, a P/E/G ratio of 3.90 and a beta of 0.49. The business’s 50 day moving average price is $159.34 and its 200-day moving average price is $152.70.

Walmart (NYSE:WMT) last issued its quarterly earnings data on Thursday, August 17th. The retailer reported $1.84 EPS for the quarter, topping the consensus estimate of $1.69 by $0.15. Walmart had a net margin of 2.23% and a return on equity of 21.47%. The business had revenue of $161.63 billion during the quarter, compared to analyst estimates of $160.22 billion. During the same period in the prior year, the business earned $1.77 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Walmart Inc. will post 6.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 1,000 shares of Walmart stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $159.48, for a total transaction of $159,480.00. Following the sale, the executive vice president now directly owns 170,735 shares in the company, valued at $27,228,817.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP John D. Rainey sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.48, for a total transaction of $159,480.00. Following the sale, the executive vice president now owns 170,735 shares of the company’s stock, valued at $27,228,817.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jim C. Walton sold 2,149,275 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $153.97, for a total transaction of $330,923,871.75. Following the transaction, the insider now directly owns 235,440,961 shares of the company’s stock, valued at approximately $36,250,844,765.17. The disclosure for this sale can be found here. Insiders sold 6,493,773 shares of company stock worth $1,005,802,298 over the last three months. Company insiders own 46.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com initiated coverage on Walmart in a report on Thursday, August 17th. They set a “strong-buy” rating on the stock. Wells Fargo & Company lifted their target price on Walmart from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. Jefferies Financial Group increased their price target on shares of Walmart from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Walmart from $176.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Roth Mkm boosted their target price on shares of Walmart from $169.00 to $179.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Four research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart has an average rating of “Moderate Buy” and an average price target of $176.51.

Walmart Profile

Walmart Inc engages in the operation of retail, wholesale, and other units 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, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.