Kirtland Hills Capital Management LLC Invests $243,000 in Walmart Inc. (NYSE:WMT)

Kirtland Hills Capital Management LLC bought a new position in shares of Walmart Inc. (NYSE:WMT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,012 shares of the retailer’s stock, valued at approximately $243,000.

Other hedge funds have also modified their holdings of the company. WFA Asset Management Corp grew its position in Walmart by 201.0% in the 1st quarter. WFA Asset Management Corp now owns 2,092 shares of the retailer’s stock valued at $126,000 after buying an additional 1,397 shares during the last quarter. Dupont Capital Management Corp boosted its position in shares of Walmart by 165.4% during the 1st quarter. Dupont Capital Management Corp now owns 270,147 shares of the retailer’s stock worth $16,255,000 after purchasing an additional 168,346 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Walmart by 307.1% during the 1st quarter. Empowered Funds LLC now owns 160,292 shares of the retailer’s stock worth $9,645,000 after purchasing an additional 120,919 shares in the last quarter. Rockport Wealth LLC acquired a new position in shares of Walmart during the 1st quarter worth $226,000. Finally, Alerus Financial NA raised its stake in shares of Walmart by 203.4% during the 1st quarter. Alerus Financial NA now owns 82,062 shares of the retailer’s stock worth $4,938,000 after buying an additional 55,012 shares during the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Alice L. Walton sold 2,709,163 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.37, for a total value of $209,607,941.31. Following the completion of the sale, the insider now directly owns 630,501,148 shares of the company’s stock, valued at approximately $48,781,873,820.76. This represents a 0.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John D. Rainey sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $77.48, for a total value of $232,440.00. Following the sale, the executive vice president now directly owns 384,165 shares of the company’s stock, valued at $29,765,104.20. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,337,337 shares of company stock valued at $958,823,647 over the last three months. Insiders own 45.58% of the company’s stock.

Walmart Trading Up 3.0 %

Shares of WMT stock opened at $86.60 on Wednesday. The stock has a 50-day simple moving average of $81.58 and a 200 day simple moving average of $73.34. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $88.29. The stock has a market capitalization of $696.11 billion, a P/E ratio of 45.03, a P/E/G ratio of 4.19 and a beta of 0.51. The company has a quick ratio of 0.22, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

Walmart (NYSE:WMT) last announced its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Walmart had a return on equity of 21.72% and a net margin of 2.34%. The business had revenue of $169.59 billion during the quarter, compared to analysts’ expectations of $167.69 billion. During the same quarter last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Walmart Inc. will post 2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. UBS Group lifted their price target on Walmart from $81.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Evercore ISI boosted their target price on shares of Walmart from $66.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday. Oppenheimer boosted their target price on shares of Walmart from $81.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. StockNews.com raised shares of Walmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on Walmart from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $86.98.

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.