Harmony Asset Management LLC Acquires New Stake in Walmart Inc. (NYSE:WMT)

Harmony Asset Management LLC bought a new position in shares of Walmart Inc. (NYSE:WMT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,428 shares of the retailer’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. World Investment Advisors grew its holdings in shares of Walmart by 7.6% in the fourth quarter. World Investment Advisors now owns 271,515 shares of the retailer’s stock valued at $24,532,000 after purchasing an additional 19,233 shares in the last quarter. Candriam S.C.A. boosted its position in Walmart by 209.7% in the 4th quarter. Candriam S.C.A. now owns 885,008 shares of the retailer’s stock valued at $79,960,000 after buying an additional 599,257 shares during the period. Modera Wealth Management LLC grew its stake in shares of Walmart by 4.8% in the fourth quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer’s stock worth $18,355,000 after acquiring an additional 9,292 shares in the last quarter. Cushing Capital Partners LLC acquired a new position in shares of Walmart in the fourth quarter worth $1,124,000. Finally, Campbell Wealth Management purchased a new stake in shares of Walmart during the fourth quarter worth $359,000. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Walmart Stock Down 0.5%

Shares of NYSE:WMT opened at $95.95 on Friday. Walmart Inc. has a 1-year low of $64.16 and a 1-year high of $105.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.82 and a quick ratio of 0.23. The stock has a market cap of $767.69 billion, a P/E ratio of 39.81, a P/E/G ratio of 4.42 and a beta of 0.70. The firm has a fifty day moving average price of $92.12 and a 200 day moving average price of $92.82.

Walmart (NYSE:WMT) last announced its earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. Walmart had a net margin of 2.85% and a return on equity of 21.87%. The business had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, May 9th. This represents a yield of 0.95%. Walmart’s payout ratio is 40.17%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WMT shares. Truist Financial lifted their target price on Walmart from $107.00 to $111.00 and gave the company a “buy” rating in a report on Friday, May 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $102.00 price objective on shares of Walmart in a research note on Friday, May 16th. Piper Sandler upped their target price on shares of Walmart from $93.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Guggenheim reiterated a “buy” rating and issued a $100.00 price target on shares of Walmart in a research note on Monday, February 24th. Finally, Wells Fargo & Company increased their price objective on shares of Walmart from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.94.

Insider Buying and Selling at Walmart

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $85.63, for a total value of $2,493,888.12. Following the completion of the sale, the chief executive officer now owns 3,972,517 shares in the company, valued at approximately $340,166,630.71. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,760 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $94.82, for a total transaction of $166,883.20. Following the transaction, the executive vice president now owns 520,275 shares in the company, valued at approximately $49,332,475.50. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,435 shares of company stock worth $13,886,290. 45.58% of the stock is currently owned by 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.