Walmart Inc. (NYSE:WMT) Stake Lifted by Canal Capital Management LLC

Canal Capital Management LLC boosted its stake in Walmart Inc. (NYSE:WMT) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,609 shares of the retailer’s stock after buying an additional 3,005 shares during the period. Walmart accounts for approximately 1.6% of Canal Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Canal Capital Management LLC’s holdings in Walmart were worth $9,901,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Heritage Financial Services LLC acquired a new stake in Walmart in the third quarter worth $232,000. Ballentine Partners LLC grew its stake in shares of Walmart by 0.5% in the third quarter. Ballentine Partners LLC now owns 78,648 shares of the retailer’s stock worth $6,351,000 after purchasing an additional 372 shares in the last quarter. Garrison Point Advisors LLC grew its stake in shares of Walmart by 3.7% in the third quarter. Garrison Point Advisors LLC now owns 8,369 shares of the retailer’s stock worth $676,000 after purchasing an additional 301 shares in the last quarter. Freedom Day Solutions LLC grew its stake in shares of Walmart by 3.5% in the third quarter. Freedom Day Solutions LLC now owns 42,257 shares of the retailer’s stock worth $3,412,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Silver Oak Securities Incorporated grew its stake in shares of Walmart by 18.7% in the third quarter. Silver Oak Securities Incorporated now owns 34,666 shares of the retailer’s stock worth $2,763,000 after purchasing an additional 5,461 shares in the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on WMT shares. DA Davidson increased their price target on Walmart from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Citigroup increased their price target on Walmart from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Melius Research assumed coverage on Walmart in a research note on Monday, September 23rd. They set a “buy” rating and a $95.00 target price for the company. Evercore ISI raised their target price on Walmart from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Truist Financial raised shares of Walmart from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $89.00 in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $83.51.

Walmart Stock Performance

WMT opened at $82.51 on Friday. The stock has a 50-day moving average of $78.91 and a 200-day moving average of $70.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.22 and a current ratio of 0.80. Walmart Inc. has a 52-week low of $49.85 and a 52-week high of $83.34. The company has a market cap of $663.67 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 4.11 and a beta of 0.51.

Walmart (NYSE:WMT) last announced its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The company had revenue of $169.30 billion for the quarter, compared to the consensus estimate of $168.56 billion. During the same quarter last year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $69.19, for a total transaction of $207,570.00. Following the completion of the transaction, the executive vice president now owns 387,165 shares of the company’s stock, valued at approximately $26,787,946.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP John D. Rainey sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $69.19, for a total transaction of $207,570.00. Following the transaction, the executive vice president now owns 387,165 shares in the company, valued at approximately $26,787,946.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Alice L. Walton sold 2,375,563 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.96, for a total transaction of $182,823,328.48. Following the completion of the sale, the insider now owns 619,646,544 shares of the company’s stock, valued at approximately $47,687,998,026.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,337,337 shares of company stock worth $958,784,857 in the last quarter. 45.58% of the stock is currently owned by company insiders.

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.