Innova Wealth Partners Buys New Shares in Walmart Inc. (NYSE:WMT)

Innova Wealth Partners purchased a new stake in shares of Walmart Inc. (NYSE:WMT) in the 4th quarter, Holdings Channel reports. The fund purchased 3,900 shares of the retailer’s stock, valued at approximately $352,000.

Other hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new stake in shares of Walmart in the 3rd quarter valued at about $26,000. Voisard Asset Management Group Inc. raised its stake in Walmart by 77.3% in the third quarter. Voisard Asset Management Group Inc. now owns 399 shares of the retailer’s stock valued at $32,000 after buying an additional 174 shares during the period. Hoese & Co LLP acquired a new stake in shares of Walmart in the third quarter valued at approximately $33,000. Livelsberger Financial Advisory bought a new position in shares of Walmart during the 3rd quarter worth approximately $36,000. Finally, Hara Capital LLC acquired a new position in shares of Walmart during the 3rd quarter worth approximately $37,000. 26.76% of the stock is currently owned by institutional investors.

Walmart Price Performance

Walmart stock opened at $90.80 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.85. Walmart Inc. has a 52 week low of $52.23 and a 52 week high of $96.18. The stock has a market capitalization of $729.43 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 4.47 and a beta of 0.55. The stock has a fifty day moving average of $89.76 and a 200-day moving average of $80.13.

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

Insider Activity at Walmart

In other news, EVP Daniel J. Bartlett sold 2,065 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.69, for a total value of $166,624.85. Following the completion of the transaction, the executive vice president now owns 457,493 shares of the company’s stock, valued at $36,915,110.17. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $82.79, for a total transaction of $2,411,175.96. Following the completion of the transaction, the chief executive officer now owns 3,843,929 shares of the company’s stock, valued at approximately $318,238,881.91. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,412 shares of company stock valued at $12,478,116 in the last quarter. Insiders own 45.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com downgraded Walmart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Melius Research began coverage on shares of Walmart in a research note on Monday, September 23rd. They set a “buy” rating and a $95.00 target price for the company. Guggenheim lifted their target price on shares of Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Jefferies Financial Group increased their price target on shares of Walmart from $105.00 to $111.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Truist Financial boosted their price objective on Walmart from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.69.

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.