Summit Financial LLC Boosts Stock Holdings in Walmart Inc. (NYSE:WMT)

Summit Financial LLC increased its position in shares of Walmart Inc. (NYSE:WMT) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 193,080 shares of the retailer’s stock after buying an additional 9,517 shares during the quarter. Walmart makes up 0.6% of Summit Financial LLC’s portfolio, making the stock its 25th largest holding. Summit Financial LLC’s holdings in Walmart were worth $17,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WMT. Brophy Wealth Management LLC acquired a new position in shares of Walmart during the 3rd quarter worth approximately $2,072,000. Candriam S.C.A. increased its holdings in Walmart by 209.7% in the 4th quarter. Candriam S.C.A. now owns 885,008 shares of the retailer’s stock worth $79,960,000 after acquiring an additional 599,257 shares in the last quarter. Bank of New Hampshire raised its position in Walmart by 13.7% during the fourth quarter. Bank of New Hampshire now owns 47,949 shares of the retailer’s stock worth $4,332,000 after acquiring an additional 5,786 shares during the period. Modera Wealth Management LLC lifted its holdings in Walmart by 4.8% during the fourth quarter. Modera Wealth Management LLC now owns 203,150 shares of the retailer’s stock valued at $18,355,000 after purchasing an additional 9,292 shares in the last quarter. Finally, Iowa State Bank grew its position in shares of Walmart by 213.8% in the fourth quarter. Iowa State Bank now owns 26,807 shares of the retailer’s stock valued at $2,422,000 after purchasing an additional 18,263 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Insider Buying and Selling at Walmart

In related news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $92.96, for a total transaction of $1,220,100.00. Following the sale, the executive vice president now directly owns 568,626 shares in the company, valued at $52,859,472.96. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kathryn J. Mclay sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $85.95, for a total transaction of $343,800.00. Following the completion of the sale, the executive vice president now directly owns 888,309 shares of the company’s stock, valued at approximately $76,350,158.55. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,528 shares of company stock worth $14,096,140 over the last ninety days. Corporate insiders own 45.58% of the company’s stock.

Walmart Trading Down 0.6 %

Shares of NYSE WMT opened at $85.08 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.23 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $682.04 billion, a PE ratio of 35.30, a PEG ratio of 4.42 and a beta of 0.53. Walmart Inc. has a twelve month low of $58.56 and a twelve month high of $105.30. The stock has a fifty day simple moving average of $94.62 and a 200-day simple moving average of $89.40.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, February 20th. The retailer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $180.55 billion during the quarter, compared to analysts’ expectations of $178.83 billion. Walmart had a net margin of 2.85% and a return on equity of 21.87%. On average, equities analysts forecast that Walmart Inc. will post 2.55 earnings per share for the current year.

Walmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, December 12th. Walmart’s dividend payout ratio (DPR) is presently 39.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on WMT. Barclays restated an “overweight” rating on shares of Walmart in a research report on Friday, February 28th. Citigroup restated a “positive” rating on shares of Walmart in a research report on Thursday, February 20th. Truist Financial boosted their price target on Walmart from $98.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Stifel Nicolaus decreased their price objective on Walmart from $99.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, March 20th. Finally, 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 report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

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.