AGF Management Ltd. Has $22.81 Million Stock Holdings in Walmart Inc. (NYSE:WMT)

Key Points

• AGF Management Ltd. significantly increased its stake in Walmart Inc. by 535.9% during the first quarter, owning 259,875 shares valued at approximately $22.8 million after acquiring an additional 219,009 shares.
• Walmart's stock currently has an average price target of $106.67, with thirty-one analysts recommending a buy rating.
• The company declared a $0.235 dividend to be paid on September 2, offering a dividend yield of 90%, with an upcoming ex-dividend date on August 15.

AGF Management Ltd. increased its stake in Walmart Inc. (NYSE:WMT - Free Report) by 535.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 259,875 shares of the retailer's stock after buying an additional 219,009 shares during the quarter. AGF Management Ltd.'s holdings in Walmart were worth $22,814,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Operose Advisors LLC grew its stake in shares of Walmart by 319.7% in the first quarter. Operose Advisors LLC now owns 319 shares of the retailer's stock valued at $28,000 after buying an additional 243 shares in the last quarter. Bear Mountain Capital Inc. grew its stake in shares of Walmart by 98.2% in the first quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock valued at $32,000 after buying an additional 167 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in shares of Walmart in the first quarter valued at about $35,000. Lipe & Dalton grew its stake in shares of Walmart by 95.2% in the first quarter. Lipe & Dalton now owns 410 shares of the retailer's stock valued at $36,000 after buying an additional 200 shares in the last quarter. Finally, Nexus Investment Management ULC acquired a new stake in shares of Walmart in the first quarter valued at about $49,000. Institutional investors and hedge funds own 26.76% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on WMT. Evercore ISI increased their price target on Walmart from $107.00 to $108.00 and gave the company an "outperform" rating in a report on Tuesday. Robert W. Baird increased their price target on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, May 16th. DA Davidson reissued a "buy" rating and issued a $117.00 price target on shares of Walmart in a report on Friday, May 16th. Telsey Advisory Group reissued an "outperform" rating and issued a $115.00 price target on shares of Walmart in a report on Monday, June 9th. Finally, Erste Group Bank raised Walmart from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Walmart currently has a consensus rating of "Buy" and a consensus target price of $106.70.

Walmart Stock Performance

WMT traded down $0.25 during trading hours on Tuesday, hitting $103.68. The company's stock had a trading volume of 17,913,175 shares, compared to its average volume of 13,932,130. Walmart Inc. has a fifty-two week low of $67.14 and a fifty-two week high of $105.30. The firm has a market capitalization of $827.41 billion, a PE ratio of 44.31, a PEG ratio of 5.00 and a beta of 0.66. The company has a 50-day simple moving average of $97.46 and a 200 day simple moving average of $95.51. The company has a current ratio of 0.78, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47.

Walmart (NYSE:WMT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The company had revenue of $165.61 billion for the quarter, compared to analysts' expectations of $164.53 billion. During the same period last year, the firm earned $0.60 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.235 dividend. This represents a dividend yield of 90.0%. The ex-dividend date is Friday, August 15th. Walmart's payout ratio is presently 40.17%.

Insider Buying and Selling

In related news, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $98.44, for a total value of $216,568.00. Following the transaction, the executive vice president directly owned 628,318 shares in the company, valued at $61,851,623.92. The trade was a 0.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kathryn J. Mclay sold 28,000 shares of Walmart stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $97.00, for a total value of $2,716,000.00. Following the completion of the transaction, the executive vice president owned 1,064,455 shares in the company, valued at $103,252,135. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,112 shares of company stock valued at $14,080,073. Insiders own 0.10% of the company's stock.

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.