CNB Bank Raises Stock Holdings in Walmart Inc. (NYSE:WMT)

CNB Bank grew its stake in shares of Walmart Inc. (NYSE:WMT) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,776 shares of the retailer’s stock after buying an additional 996 shares during the period. Walmart accounts for 0.9% of CNB Bank’s portfolio, making the stock its 26th biggest holding. CNB Bank’s holdings in Walmart were worth $1,877,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Walmart by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock worth $7,048,465,000 after buying an additional 2,786,061 shares during the period. FMR LLC boosted its stake in shares of Walmart by 12.9% in the third quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock worth $5,098,203,000 after acquiring an additional 7,200,004 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Walmart by 4.6% in the third quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock worth $3,848,533,000 after acquiring an additional 2,107,197 shares during the period. Franklin Resources Inc. grew its position in shares of Walmart by 3.7% during the third quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer’s stock worth $3,392,658,000 after purchasing an additional 1,480,927 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Walmart by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock worth $2,456,704,000 after purchasing an additional 644,353 shares in the last quarter. 26.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WMT. Morgan Stanley raised their target price on shares of Walmart from $89.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Truist Financial raised their price objective on Walmart from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI boosted their target price on Walmart from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. TD Cowen raised their price target on Walmart from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird upped their price objective on Walmart from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.49.

Walmart Trading Up 0.8 %

Walmart stock opened at $92.02 on Friday. 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 has a market cap of $739.19 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 4.41 and a beta of 0.55. The stock has a 50-day moving average of $91.01 and a two-hundred day moving average of $81.10. Walmart Inc. has a one year low of $53.44 and a one year high of $96.18.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The firm had revenue of $169.59 billion during the quarter, compared to analyst estimates of $167.69 billion. During the same period last year, the firm posted $0.51 EPS. Walmart’s revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Walmart Inc. will post 2.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO C Douglas Mcmillon sold 29,124 shares of Walmart stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $82.79, for a total transaction of $2,411,175.96. Following the completion of the sale, the chief executive officer now owns 3,843,929 shares of the company’s stock, valued at $318,238,881.91. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel J. Bartlett sold 1,830 shares of the 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 approximately $41,956,404.35. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,177 shares of company stock valued at $12,478,149 over the last ninety days. 45.58% of the stock is currently owned by insiders.

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.