Walmart Inc. (NYSE:WMT) Shares Acquired by Drive Wealth Management LLC

Key Points

• Drive Wealth Management LLC increased its holdings in Walmart Inc. by 68.2% during the first quarter, owning 28,356 shares valued at approximately $2.5 million.
• Analysts have set an average target price of $106.67 for Walmart stock, with multiple firms reissuing an "outperform" rating.
• Walmart reported a quarterly earnings per share of $0.61, outperforming estimates, and continued to pay a dividend of $0.235 per share

Drive Wealth Management LLC boosted its position in Walmart Inc. (NYSE:WMT - Free Report) by 68.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,356 shares of the retailer's stock after buying an additional 11,497 shares during the period. Drive Wealth Management LLC's holdings in Walmart were worth $2,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Horizon Financial Services LLC grew its stake in shares of Walmart by 1,007.7% during the 4th quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock worth $26,000 after purchasing an additional 262 shares during the period. Bear Mountain Capital Inc. lifted its position in shares of Walmart by 98.2% during the 1st 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 purchased a new position in shares of Walmart during the 1st quarter valued at approximately $35,000. Lipe & Dalton lifted its position in shares of Walmart by 95.2% during the 1st 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, Mizuho Bank Ltd. purchased a new position in shares of Walmart during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 26.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WMT shares. Oppenheimer increased their target price on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Tigress Financial increased their price objective on Walmart from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised Walmart from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Mizuho raised their target price on Walmart from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, June 9th. Finally, UBS Group cut their target price on Walmart from $112.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.67.

Insider Buying and Selling at Walmart

In other news, EVP John R. Furner sold 13,125 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $88,700,258.82. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Douglas Mcmillon sold 19,416 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $97.19, for a total value of $1,887,041.04. Following the sale, the chief executive officer directly owned 4,431,783 shares in the company, valued at $430,724,989.77. This trade represents a 0.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,696 shares of company stock worth $12,222,245. 45.58% of the stock is currently owned by corporate insiders.

Walmart Stock Up 0.9%

Shares of WMT traded up $0.85 during midday trading on Friday, hitting $97.45. The company had a trading volume of 12,845,633 shares, compared to its average volume of 13,524,539. The company's 50-day simple moving average is $96.76 and its 200-day simple moving average is $94.81. 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 firm has a market capitalization of $777.72 billion, a P/E ratio of 41.65, a P/E/G ratio of 4.65 and a beta of 0.68. Walmart Inc. has a 1 year low of $66.67 and a 1 year high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $165.61 billion during the quarter, compared to analysts' expectations of $164.53 billion. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. 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 disclosed a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 12th were paid a $0.235 dividend. This represents a dividend yield of 0.95%. The ex-dividend date was Friday, May 9th. Walmart's payout ratio is presently 40.17%.

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.