Bank of Nova Scotia Purchases 237,087 Shares of Walmart Inc. (NYSE:WMT)

Bank of Nova Scotia lifted its position in Walmart Inc. (NYSE:WMT) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,365,753 shares of the retailer’s stock after acquiring an additional 237,087 shares during the quarter. Bank of Nova Scotia’s holdings in Walmart were worth $213,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of Walmart during the fourth quarter valued at approximately $25,000. Horizon Financial Services LLC lifted its holdings in Walmart by 1,007.7% during the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer’s stock worth $26,000 after buying an additional 262 shares during the period. Fiduciary Advisors Inc. bought a new stake in Walmart during the 4th quarter valued at $27,000. Decker Retirement Planning Inc. purchased a new position in shares of Walmart in the 4th quarter valued at $32,000. Finally, Noble Wealth Management PBC bought a new position in shares of Walmart in the 4th quarter worth $37,000. 26.76% of the stock is currently owned by institutional investors.

Walmart Stock Up 0.5 %

WMT opened at $83.65 on Tuesday. The company has a market cap of $670.59 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 4.42 and a beta of 0.69. Walmart Inc. has a twelve month low of $58.56 and a twelve month high of $105.30. The company has a 50-day moving average price of $93.74 and a 200 day moving average price of $89.71. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 0.40.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $180.55 billion during the quarter, compared to analysts’ expectations of $178.83 billion. Walmart had a return on equity of 21.87% and a net margin of 2.85%. Sell-side analysts expect that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Walmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, December 12th. Walmart’s payout ratio is 39.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WMT. Robert W. Baird boosted their target price on shares of Walmart from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. DZ Bank raised shares of Walmart from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, February 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $115.00 price target (up from $106.00) on shares of Walmart in a report on Thursday, February 13th. Truist Financial increased their price objective on Walmart from $98.00 to $111.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their target price on Walmart from $99.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, March 20th. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Walmart has an average rating of “Moderate Buy” and an average price target of $103.17.

Insider Transactions at Walmart

In other Walmart news, EVP Daniel J. Bartlett sold 1,600 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $103.99, for a total value of $166,384.00. Following the completion of the sale, the executive vice president now directly owns 423,597 shares of the company’s stock, valued at $44,049,852.03. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $88.66, for a total transaction of $195,052.00. Following the transaction, the executive vice president now directly owns 398,024 shares in the company, valued at approximately $35,288,807.84. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,852 shares of company stock valued at $16,785,080. Corporate insiders own 45.58% of the company’s stock.

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.