Frank Rimerman Advisors LLC Grows Stock Position in Walmart Inc. (NYSE:WMT)

Key Points

• Frank Rimerman Advisors LLC increased its holdings in Walmart Inc. by 5.5%, totaling 60,077 shares valued at approximately $5.27 million.
• Multiple institutional investors, including GAMMA Investing LLC and Goldman Sachs Group Inc., have significantly raised their stakes in Walmart during the 1st quarter, indicating robust institutional interest.
• Walmart's recent earnings beat analysts' estimates with $0.61 earnings per share and revenue of $165.61 billion, reflecting a 2.5% increase over the prior year.

Frank Rimerman Advisors LLC increased its holdings in Walmart Inc. (NYSE:WMT - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,077 shares of the retailer's stock after buying an additional 3,121 shares during the period. Frank Rimerman Advisors LLC's holdings in Walmart were worth $5,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC raised its stake in Walmart by 9,896.9% in the 1st quarter. GAMMA Investing LLC now owns 7,939,728 shares of the retailer's stock valued at $697,029,000 after purchasing an additional 7,860,306 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Walmart by 30.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,292,749 shares of the retailer's stock valued at $2,922,770,000 after purchasing an additional 7,706,201 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in Walmart by 28,684.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 4,229,354 shares of the retailer's stock valued at $371,295,000 after purchasing an additional 4,214,661 shares during the last quarter. Northern Trust Corp raised its stake in Walmart by 8.9% in the 4th quarter. Northern Trust Corp now owns 43,641,936 shares of the retailer's stock valued at $3,943,049,000 after purchasing an additional 3,550,037 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Walmart by 33.4% in the 1st quarter. Deutsche Bank AG now owns 13,683,991 shares of the retailer's stock valued at $1,201,318,000 after purchasing an additional 3,427,615 shares during the last quarter. 26.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WMT has been the subject of several analyst reports. DA Davidson reissued a "buy" rating and issued a $117.00 target price on shares of Walmart in a research note on Friday, May 16th. Evercore ISI upped their price objective on shares of Walmart from $105.00 to $107.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. KeyCorp upped their price objective on shares of Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Walmart in a research note on Monday, June 9th. Finally, Robert W. Baird upped their price objective on shares of Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $106.67.

Walmart Stock Up 0.6%

NYSE WMT opened at $103.77 on Friday. The stock has a market cap of $828.13 billion, a PE ratio of 44.35, a P/E/G ratio of 4.96 and a beta of 0.66. Walmart Inc. has a fifty-two week low of $67.14 and a fifty-two week high of $105.30. The business has a 50 day moving average price of $97.30 and a two-hundred day moving average price of $95.37. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47.

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, topping analysts' consensus estimates of $0.58 by $0.03. The firm 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%. Walmart's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, sell-side analysts predict that Walmart Inc. will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO C Douglas Mcmillon sold 29,148 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 4,451,199 shares in the company, valued at approximately $429,896,799.42. This represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John D. Rainey sold 2,200 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $98.44, for a total value of $216,568.00. Following the transaction, the executive vice president owned 628,318 shares of the company's stock, valued at approximately $61,851,623.92. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,112 shares of company stock worth $14,080,073 in the last 90 days. 45.58% of the stock is owned by 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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