Riggs Asset Managment Co. Inc. Grows Stake in Walmart Inc. (NYSE:WMT)

Riggs Asset Managment Co. Inc. grew its holdings in Walmart Inc. (NYSE:WMT) by 0.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 75,331 shares of the retailer’s stock after buying an additional 427 shares during the quarter. Walmart makes up about 1.8% of Riggs Asset Managment Co. Inc.’s investment portfolio, making the stock its 18th largest holding. Riggs Asset Managment Co. Inc.’s holdings in Walmart were worth $6,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Round Rock Advisors LLC raised its position in shares of Walmart by 111.0% in the 4th quarter. Round Rock Advisors LLC now owns 8,305 shares of the retailer’s stock worth $750,000 after acquiring an additional 4,369 shares in the last quarter. Sutton Place Investors LLC increased its position in Walmart by 24.3% during the 4th quarter. Sutton Place Investors LLC now owns 4,912 shares of the retailer’s stock valued at $444,000 after buying an additional 959 shares in the last quarter. Greenleaf Trust increased its position in Walmart by 0.3% during the 4th quarter. Greenleaf Trust now owns 139,470 shares of the retailer’s stock valued at $12,601,000 after buying an additional 467 shares in the last quarter. Nadler Financial Group Inc. increased its position in Walmart by 3.1% during the 4th quarter. Nadler Financial Group Inc. now owns 7,295 shares of the retailer’s stock valued at $659,000 after buying an additional 219 shares in the last quarter. Finally, Golden State Equity Partners increased its position in Walmart by 347.8% during the 4th quarter. Golden State Equity Partners now owns 50,418 shares of the retailer’s stock valued at $4,555,000 after buying an additional 39,159 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Walmart from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. KeyCorp raised their price objective on Walmart from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Walmart in a research note on Wednesday, January 15th. Piper Sandler increased their target price on Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company increased their target price on Walmart from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.37.

Insiders Place Their Bets

In other Walmart news, EVP Daniel J. Bartlett sold 1,830 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.07, for a total transaction of $166,658.10. Following the completion of the transaction, the executive vice president now owns 460,705 shares in the company, valued at $41,956,404.35. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 owns 3,814,805 shares of the company’s stock, valued at $348,825,769.20. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,177 shares of company stock valued at $12,649,328 over the last ninety days. 45.58% of the stock is owned by insiders.

Walmart Trading Up 1.5 %

Shares of WMT stock opened at $99.60 on Tuesday. Walmart Inc. has a 12-month low of $55.85 and a 12-month high of $99.79. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $93.07 and its 200-day moving average price is $83.27. The stock has a market capitalization of $800.13 billion, a price-to-earnings ratio of 40.88, a price-to-earnings-growth ratio of 4.49 and a beta of 0.55.

Walmart (NYSE:WMT) last issued its earnings results on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $167.69 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts predict that Walmart Inc. will post 2.48 EPS for the current fiscal year.

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.