OVERSEA CHINESE BANKING Corp Ltd Purchases 6,689 Shares of Walmart Inc. (NYSE:WMT)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Walmart by 3.5%, acquiring an additional 6,689 shares, bringing its total holdings to 197,873 shares valued at approximately $17.37 million.
• Several institutional investors are actively trading Walmart stocks, with Bear Mountain Capital Inc. growing its position by 98.2% in the first quarter, while other firms have also made significant acquisitions.
• Walmart's stock has received a series of optimistic reassessments from analysts, with target prices raised to as high as $115 by multiple firms, indicating a consensus rating of “Moderate Buy”.

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Walmart Inc. (NYSE:WMT - Free Report) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,873 shares of the retailer's stock after purchasing an additional 6,689 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Walmart were worth $17,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bear Mountain Capital Inc. grew its position in Walmart by 98.2% during the first quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock worth $32,000 after buying an additional 167 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in Walmart during the first quarter worth approximately $35,000. Lipe & Dalton boosted its holdings in shares of Walmart by 95.2% in the 1st quarter. Lipe & Dalton now owns 410 shares of the retailer's stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Walmart in the 4th quarter valued at $41,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of Walmart in the 1st quarter valued at $49,000. Institutional investors and hedge funds own 26.76% of the company's stock.

Insider Buying and Selling

In other Walmart news, EVP John D. Rainey sold 2,200 shares of Walmart stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $98.44, for a total transaction of $216,568.00. Following the completion of the transaction, the executive vice president owned 628,318 shares in the company, valued at approximately $61,851,623.92. The trade was a 0.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathryn J. Mclay sold 28,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $97.00, for a total value of $2,716,000.00. Following the completion of the transaction, the executive vice president owned 1,064,455 shares in the company, valued at $103,252,135. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,912 shares of company stock worth $13,863,813 over the last 90 days. Company insiders own 45.58% of the company's stock.

Wall Street Analysts Forecast Growth

WMT has been the topic of a number of research analyst reports. Oppenheimer raised their target price on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Mizuho raised their target price on Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, June 9th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Walmart in a report on Monday, June 9th. Stifel Nicolaus reduced their target price on Walmart from $93.00 to $91.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Evercore ISI raised their target price on Walmart from $105.00 to $107.00 and gave the company an "outperform" rating in a 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $106.67.

Walmart Price Performance

WMT stock opened at $98.40 on Friday. The company has a market capitalization of $785.27 billion, a P/E ratio of 42.05, a price-to-earnings-growth ratio of 4.72 and a beta of 0.66. 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 Inc. has a 52-week low of $66.67 and a 52-week high of $105.30. The business has a 50-day simple moving average of $96.86 and a two-hundred day simple moving average of $95.03.

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

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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