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Nuveen LLC Invests $2.53 Billion in Walmart Inc. (NYSE:WMT)

Walmart logo with Retail/Wholesale background

Key Points

  • Nuveen LLC has invested approximately $2.53 billion in Walmart, acquiring around 28.8 million shares, making Walmart its 19th largest holding.
  • Walmart is receiving positive attention from analysts, with several upgrades and an average target price of $106.67, indicating a consensus "Buy" rating.
  • Walmart reported better-than-expected earnings of $0.61 per share for the last quarter, surpassing analysts' estimates and showing a 2.5% increase in revenue compared to the previous year.
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Nuveen LLC purchased a new position in shares of Walmart Inc. (NYSE:WMT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 28,845,321 shares of the retailer's stock, valued at approximately $2,532,331,000. Walmart accounts for about 0.8% of Nuveen LLC's portfolio, making the stock its 19th biggest holding. Nuveen LLC owned about 0.36% of Walmart as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Campion Asset Management increased its position in Walmart by 48.2% during the first quarter. Campion Asset Management now owns 4,942 shares of the retailer's stock worth $434,000 after acquiring an additional 1,607 shares during the period. Cooper Financial Group raised its position in shares of Walmart by 2.3% in the 1st quarter. Cooper Financial Group now owns 48,048 shares of the retailer's stock valued at $4,218,000 after buying an additional 1,090 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Walmart by 3.4% in the 1st quarter. King Luther Capital Management Corp now owns 1,281,646 shares of the retailer's stock valued at $112,516,000 after buying an additional 42,643 shares in the last quarter. Biltmore Family Office LLC raised its position in shares of Walmart by 0.7% in the 1st quarter. Biltmore Family Office LLC now owns 19,481 shares of the retailer's stock valued at $1,715,000 after buying an additional 140 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Walmart in the 1st quarter valued at approximately $8,085,000. 26.76% of the stock is owned by institutional investors.

Walmart Price Performance

Shares of WMT traded up $0.65 during mid-day trading on Friday, hitting $103.77. 12,392,140 shares of the stock were exchanged, compared to its average volume of 13,978,248. The company has a market cap of $828.13 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 4.99 and a beta of 0.66. Walmart Inc. has a 52-week low of $67.14 and a 52-week high of $105.30. The firm has a 50-day moving average of $97.30 and a two-hundred day moving average of $95.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78.

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. Walmart had a return on equity of 21.76% and a net margin of 2.75%. The company had revenue of $165.61 billion for the quarter, compared to analyst estimates of $164.53 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. Walmart's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Walmart Inc. will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Daniel J. Bartlett sold 1,744 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $95.60, for a total transaction of $166,726.40. Following the transaction, the executive vice president owned 649,233 shares of the company's stock, valued at approximately $62,066,674.80. This represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO C Douglas Mcmillon sold 19,416 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $95.58, for a total value of $1,855,781.28. Following the transaction, the chief executive officer directly owned 4,412,398 shares in the company, valued at $421,737,000.84. The trade was a 0.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,112 shares of company stock valued at $14,080,073. Insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

WMT has been the subject of several analyst reports. Robert W. Baird boosted their target price on shares of Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Telsey Advisory Group restated an "outperform" rating and issued a $115.00 target price on shares of Walmart in a research report on Monday, June 9th. Mizuho boosted their target price on shares of Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, June 9th. Tigress Financial boosted their target price on shares of Walmart from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $106.67.

Read Our Latest Stock Analysis on WMT

Walmart Profile

(Free Report)

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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Institutional Ownership by Quarter for Walmart (NYSE:WMT)

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