Corient IA LLC Acquires Shares of 13,500 Walmart Inc. (NYSE:WMT)

Key Points

• Corient IA LLC has acquired 13,500 shares of Walmart Inc., valued at approximately $1,185,000, making it the 13th largest position in their portfolio.
• Walmart has recently seen price target increases from several analysts, with recommendations leaning towards a "buy" rating along with a consensus target price of $109.29.
• The company reported a quarterly earnings per share of $0.61, exceeding analysts' estimates, alongside revenue of $165.61 billion, marking a 2.5% year-over-year increase.

Corient IA LLC bought a new stake in shares of Walmart Inc. (NYSE:WMT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,500 shares of the retailer's stock, valued at approximately $1,185,000. Walmart accounts for 0.8% of Corient IA LLC's holdings, making the stock its 13th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Whelan Financial grew its position in Walmart by 2.3% in the fourth quarter. Whelan Financial now owns 4,339 shares of the retailer's stock worth $392,000 after acquiring an additional 97 shares in the last quarter. Bedel Financial Consulting Inc. lifted its stake in shares of Walmart by 0.4% in the 1st quarter. Bedel Financial Consulting Inc. now owns 25,915 shares of the retailer's stock valued at $2,275,000 after purchasing an additional 102 shares during the last quarter. Scott & Selber Inc. boosted its holdings in Walmart by 3.7% in the first quarter. Scott & Selber Inc. now owns 2,920 shares of the retailer's stock worth $256,000 after purchasing an additional 105 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its holdings in Walmart by 1.4% in the first quarter. Capital Advisors Wealth Management LLC now owns 7,794 shares of the retailer's stock worth $684,000 after purchasing an additional 105 shares in the last quarter. Finally, Lauterbach Financial Advisors LLC increased its position in Walmart by 1.8% during the first quarter. Lauterbach Financial Advisors LLC now owns 5,885 shares of the retailer's stock worth $517,000 after buying an additional 106 shares during the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on WMT. KeyCorp increased their price objective on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Wall Street Zen upgraded Walmart from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Truist Financial lifted 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. JPMorgan Chase & Co. upped their price objective on shares of Walmart from $112.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Tigress Financial raised their target price on shares of Walmart from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $109.29.

Walmart Stock Performance

Shares of NYSE WMT opened at $99.96 on Friday. The firm has a market capitalization of $797.72 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 4.80 and a beta of 0.66. Walmart Inc. has a one year low of $72.52 and a one year high of $105.30. The business has a fifty day simple moving average of $97.60 and a 200 day simple moving average of $95.58. 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 released its quarterly earnings data on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. The company had revenue of $165.61 billion during the quarter, compared to the consensus estimate of $164.53 billion. Walmart had a net margin of 2.75% and a return on equity of 21.76%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Sell-side analysts expect that Walmart Inc. will post 2.55 EPS for the current year.

Walmart Dividend Announcement

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

Insider Buying and Selling

In other Walmart news, 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 transaction of $2,716,000.00. Following the completion of the transaction, the executive vice president directly owned 1,064,455 shares of the company's stock, valued at approximately $103,252,135. This trade represents a 2.56% 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 link. Also, CEO C Douglas Mcmillon sold 29,148 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $96.58, for a total transaction of $2,815,113.84. Following the completion of the sale, the chief executive officer directly owned 4,451,199 shares in the company, valued at approximately $429,896,799.42. The trade was a 0.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,334 shares of company stock valued at $13,913,350. 0.10% of the stock is currently owned by corporate insiders.

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.

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