Commonwealth Equity Services LLC Boosts Stock Holdings in Walmart Inc. (NYSE:WMT)

Key Points

• Commonwealth Equity Services LLC increased its stake in Walmart by 3.1%, bringing its total holdings to over 2.9 million shares valued at approximately $256.3 million.
• Walmart outperformed earnings expectations with $0.61 EPS compared to the consensus estimate of $0.58 and reported quarterly revenue of $165.61 billion, exceeding expectations.
• Analysts have raised their price targets for Walmart, with an average target now at $106.67 and a consensus rating of "Moderate Buy."

Commonwealth Equity Services LLC increased its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,919,436 shares of the retailer's stock after purchasing an additional 88,907 shares during the period. Commonwealth Equity Services LLC's holdings in Walmart were worth $256,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fairfield Financial Advisors LTD grew its stake in shares of Walmart by 81.8% during the first quarter. Fairfield Financial Advisors LTD now owns 29,311 shares of the retailer's stock worth $2,573,000 after purchasing an additional 13,185 shares in the last quarter. Avalon Trust Co grew its stake in shares of Walmart by 143.3% during the first quarter. Avalon Trust Co now owns 4,744 shares of the retailer's stock worth $417,000 after purchasing an additional 2,794 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of Walmart by 3.4% during the first quarter. Manchester Capital Management LLC now owns 32,664 shares of the retailer's stock worth $2,868,000 after purchasing an additional 1,081 shares in the last quarter. Cheviot Value Management LLC acquired a new position in shares of Walmart during the first quarter worth $164,000. Finally, Liberty Wealth Management LLC lifted its position in Walmart by 2,241.3% in the first quarter. Liberty Wealth Management LLC now owns 151,693 shares of the retailer's stock valued at $13,317,000 after acquiring an additional 145,214 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company's stock.

Insiders Place Their Bets

In related news, EVP John D. Rainey sold 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total transaction of $216,568.00. Following the sale, the executive vice president owned 628,318 shares in the company, valued at approximately $61,851,623.92. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $95.14, for a total transaction of $1,248,712.50. Following the sale, the executive vice president 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. Over the last ninety days, insiders sold 143,912 shares of company stock valued at $13,863,813. Corporate insiders own 45.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WMT. Truist Financial boosted their price target on shares of Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Citigroup reissued a "buy" rating on shares of Walmart in a research report on Tuesday, May 6th. Stifel Nicolaus reduced their price target on shares of Walmart from $93.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Oppenheimer boosted their price target on shares of Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.67.

Walmart Price Performance

Walmart stock traded up $0.42 during mid-day trading on Friday, reaching $98.40. The company had a trading volume of 16,740,547 shares, compared to its average volume of 13,544,672. The stock's 50-day simple moving average is $96.86 and its 200-day simple moving average is $95.08. The company has a market capitalization of $785.27 billion, a P/E ratio of 42.05, a P/E/G ratio of 4.74 and a beta of 0.66. Walmart Inc. has a 1 year low of $66.67 and a 1 year high of $105.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22.

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

Walmart Company 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.