Essex Savings Bank Buys 2,876 Shares of Walmart Inc. (NYSE:WMT)

Essex Savings Bank raised its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,649 shares of the retailer's stock after buying an additional 2,876 shares during the period. Walmart comprises 1.0% of Essex Savings Bank's portfolio, making the stock its 20th biggest position. Essex Savings Bank's holdings in Walmart were worth $4,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FPC Investment Advisory Inc. acquired a new stake in shares of Walmart in the fourth quarter valued at approximately $25,000. Horizon Financial Services LLC increased its stake in Walmart by 1,007.7% in the fourth quarter. Horizon Financial Services LLC now owns 288 shares of the retailer's stock valued at $26,000 after purchasing an additional 262 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of Walmart in the 4th quarter valued at $37,000. Mizuho Bank Ltd. bought a new stake in shares of Walmart in the fourth quarter worth about $41,000. Finally, Nexus Investment Management ULC acquired a new stake in Walmart during the 1st quarter worth approximately $49,000. 26.76% of the stock is owned by institutional investors and hedge funds.

Walmart Price Performance

Shares of WMT opened at $94.24 on Wednesday. The company's 50-day moving average is $96.13 and its 200-day moving average is $94.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.22. The firm has a market capitalization of $752.04 billion, a PE ratio of 40.27, a PEG ratio of 4.60 and a beta of 0.69. Walmart Inc. has a fifty-two week low of $66.55 and a fifty-two week high of $105.30.

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

Walmart Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 12th were paid a $0.235 dividend. The ex-dividend date was Friday, May 9th. This represents a yield of 0.95%. Walmart's dividend payout ratio (DPR) is presently 40.17%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Guggenheim reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Walmart in a research report on Monday, February 24th. Stifel Nicolaus dropped their price target on Walmart from $93.00 to $91.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Oppenheimer upped their price objective on Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Piper Sandler lifted their target price on Walmart from $93.00 to $118.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Evercore ISI upped their price target on Walmart from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Walmart has a consensus rating of "Moderate Buy" and a consensus price target of $106.50.

Insider Buying and Selling at Walmart

In other Walmart news, EVP John D. Rainey sold 2,200 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $99.00, for a total value of $217,800.00. Following the completion of the sale, the executive vice president now owns 630,518 shares of the company's stock, valued at $62,421,282. The trade was a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $85.63, for a total transaction of $2,493,888.12. Following the transaction, the chief executive officer now owns 3,972,517 shares in the company, valued at approximately $340,166,630.71. The trade was a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,294 shares of company stock valued at $12,656,659 in the last ninety days. 45.58% of the stock is currently owned by corporate insiders.

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.

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