Legacy Financial Group LLC Takes $800,000 Position in Walmart Inc. (NYSE:WMT)

Legacy Financial Group LLC bought a new stake in Walmart Inc. (NYSE:WMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,859 shares of the retailer’s stock, valued at approximately $800,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Walmart by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock valued at $7,048,465,000 after purchasing an additional 2,786,061 shares during the last quarter. FMR LLC lifted its holdings in shares of Walmart by 12.9% in the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock valued at $5,098,203,000 after purchasing an additional 7,200,004 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Walmart by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock valued at $3,848,533,000 after purchasing an additional 2,107,197 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Walmart by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer’s stock valued at $3,392,658,000 after purchasing an additional 1,480,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Walmart by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,236,769 shares of the retailer’s stock valued at $2,522,369,000 after purchasing an additional 350,881 shares during the last quarter. 26.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.44, for a total value of $2,663,098.56. Following the transaction, the chief executive officer now directly owns 3,814,805 shares of the company’s stock, valued at approximately $348,825,769.20. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John D. Rainey sold 3,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $82.12, for a total value of $246,360.00. Following the completion of the transaction, the executive vice president now directly owns 378,165 shares in the company, valued at $31,054,909.80. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,177 shares of company stock valued at $12,895,688 in the last quarter. 45.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America upped their price objective on Walmart from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. StockNews.com downgraded Walmart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group upped their price objective on Walmart from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Robert W. Baird upped their price objective on Walmart from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Truist Financial upped their price objective on Walmart from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.69.

Walmart Price Performance

WMT stock opened at $97.39 on Tuesday. Walmart Inc. has a 1 year low of $54.51 and a 1 year high of $97.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.85. The stock’s 50 day moving average price is $92.02 and its 200 day moving average price is $82.29. The firm has a market cap of $782.38 billion, a P/E ratio of 39.97, a PEG ratio of 4.42 and a beta of 0.55.

Walmart (NYSE:WMT) last posted its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Walmart had a return on equity of 21.78% and a net margin of 2.92%. The firm had revenue of $169.59 billion for the quarter, compared to analyst estimates of $167.69 billion. During the same quarter in the prior year, the company earned $0.51 EPS. Walmart’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Walmart Inc. will post 2.48 earnings per share for the current fiscal year.

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.