Benjamin Edwards Inc. Acquires 14,212 Shares of Walmart Inc. (NYSE:WMT)

Key Points

• Benjamin Edwards Inc. increased its holdings in Walmart by 1.9%, now owning approximately 765,342 shares valued at $67.19 million, making it the firm's 15th biggest holding.
• Walmart reported earnings of $0.61 per share for the last quarter, beating the consensus estimate and achieving revenue of $165.61 billion, an increase of 2.5% year-over-year.
• Several analysts raised their price targets for Walmart, with Truist Financial increasing its target from $107.00 to $111.00, reflecting a positive outlook for the company's stock performance.

Benjamin Edwards Inc. grew its position in Walmart Inc. (NYSE:WMT - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 765,342 shares of the retailer's stock after purchasing an additional 14,212 shares during the period. Walmart makes up approximately 0.9% of Benjamin Edwards Inc.'s investment portfolio, making the stock its 15th largest holding. Benjamin Edwards Inc.'s holdings in Walmart were worth $67,189,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Bear Mountain Capital Inc. boosted its position in Walmart by 98.2% during the first quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock valued at $32,000 after purchasing an additional 167 shares during the last quarter. EQ Wealth Advisors LLC acquired a new position in Walmart during the first quarter valued at approximately $35,000. Lipe & Dalton boosted its position in Walmart by 95.2% during the first quarter. Lipe & Dalton now owns 410 shares of the retailer's stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Nexus Investment Management ULC acquired a new position in Walmart during the first quarter valued at approximately $49,000. Finally, Vega Investment Solutions acquired a new position in Walmart during the fourth quarter valued at approximately $54,000. 26.76% of the stock is currently owned by institutional investors.

Walmart Price Performance

Shares of WMT traded up $0.65 during mid-day trading on Friday, reaching $103.77. The company had a trading volume of 12,392,140 shares, compared to its average volume of 14,088,264. The company's 50 day simple moving average is $97.30 and its 200 day simple moving average is $95.38. Walmart Inc. has a 1-year low of $67.14 and a 1-year high of $105.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78. The company has a market capitalization of $828.13 billion, a price-to-earnings ratio of 44.35, a P/E/G ratio of 4.99 and a beta of 0.66.

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

Insider Activity at Walmart

In related news, CEO C Douglas Mcmillon sold 19,416 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $95.58, for a total transaction of $1,855,781.28. Following the sale, the chief executive officer owned 4,412,398 shares of the company's stock, valued at $421,737,000.84. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the firm's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $95.14, for a total value of $1,248,712.50. Following the sale, the executive vice president directly owned 932,313 shares in the company, valued at approximately $88,700,258.82. This trade represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,112 shares of company stock worth $14,080,073 over the last 90 days. 45.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp increased their price target on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Telsey Advisory Group reissued an "outperform" rating and set a $115.00 price target on shares of Walmart in a research report on Monday, June 9th. Evercore ISI upped their price objective on Walmart from $105.00 to $107.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Mizuho upped their price objective on Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. Finally, Erste Group Bank upgraded Walmart from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $106.67.

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.