SouthState Bank Corp Grows Stock Holdings in Walmart Inc. $WMT

SouthState Bank Corp grew its stake in Walmart Inc. (NASDAQ:WMT - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 265,896 shares of the retailer's stock after acquiring an additional 10,018 shares during the quarter. Walmart accounts for 1.5% of SouthState Bank Corp's portfolio, making the stock its 12th biggest holding. SouthState Bank Corp's holdings in Walmart were worth $33,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Entrust Financial LLC bought a new position in Walmart in the 4th quarter valued at approximately $27,000. Merkkuri Wealth Advisors LLC purchased a new position in Walmart in the first quarter worth about $29,000. Beacon Financial Strategies CORP purchased a new position in shares of Walmart in the fourth quarter worth approximately $30,000. Bay Harbor Wealth Management LLC grew its position in shares of Walmart by 57.4% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 288 shares of the retailer's stock valued at $32,000 after acquiring an additional 105 shares during the period. Finally, Clayton Financial Group LLC grew its holdings in Walmart by 193.0% during the fourth quarter. Clayton Financial Group LLC now owns 293 shares of the retailer's stock valued at $33,000 after purchasing an additional 193 shares during the period. Hedge funds and other institutional investors own 26.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WMT shares. TD Cowen reiterated a "buy" rating and issued a $150.00 price target (up from $145.00) on shares of Walmart in a research report on Thursday, May 7th. Truist Financial set a $140.00 price target on Walmart in a report on Thursday, May 21st. Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a research note on Monday, June 8th. Guggenheim boosted their target price on Walmart from $120.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Finally, Morgan Stanley upped their price target on shares of Walmart from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $138.85.

Key Walmart News

Here are the key news stories impacting Walmart this week:

• Positive Sentiment: Walmart continues to benefit from strong momentum in higher-margin businesses such as advertising, membership, and e-commerce, which are growing faster than its core store operations and supporting the long-term growth story. Where Will Walmart Stock Be in 5 Years?
• Positive Sentiment: Walmart just announced its 53rd dividend increase, reinforcing its appeal as a defensive, income-producing stock for investors looking for steady cash returns. Walmart just declared its 53rd dividend increase
• Positive Sentiment: Recent coverage also highlights Walmart+ membership growth and faster delivery as drivers of recurring revenue and deeper customer engagement, which could help sustain sales momentum. Can Walmart+ Membership Keep WMT's Growth Momentum Alive?

Insider Activity at Walmart

In other Walmart news, EVP David W. Guggina sold 11,978 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $119.82, for a total value of $1,435,203.96. Following the completion of the sale, the executive vice president directly owned 125,067 shares in the company, valued at approximately $14,985,527.94. This trade represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director C Douglas Mcmillon sold 19,416 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $118.63, for a total transaction of $2,303,320.08. Following the completion of the transaction, the director directly owned 4,174,579 shares of the company's stock, valued at $495,230,306.77. The trade was a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 103,170 shares of company stock worth $12,692,133 over the last ninety days. Corporate insiders own 0.09% of the company's stock.

Walmart Trading Down 0.9%

Shares of NASDAQ:WMT opened at $113.70 on Wednesday. The business's fifty day simple moving average is $119.80 and its 200-day simple moving average is $122.07. Walmart Inc. has a 12-month low of $94.43 and a 12-month high of $135.15. The company has a current ratio of 0.77, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $904.83 billion, a PE ratio of 39.89, a P/E/G ratio of 4.28 and a beta of 0.60.

Walmart (NASDAQ:WMT - Get Free Report) last announced its earnings results on Thursday, May 21st. The retailer reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. The business had revenue of $177.75 billion during the quarter, compared to the consensus estimate of $174.84 billion. Walmart had a net margin of 3.13% and a return on equity of 21.25%. The firm's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. Walmart has set its FY 2027 guidance at 2.750-2.850 EPS and its Q2 2027 guidance at 0.720-0.740 EPS. As a group, equities research analysts predict that Walmart Inc. will post 2.89 earnings per share for the current fiscal year.

Walmart Profile

Walmart is a multinational retail corporation that operates a broad portfolio of store formats and digital services. Its core business includes large-format supercenters, discount department stores, neighborhood grocery stores and a membership warehouse chain, Sam’s Club. The company’s merchandising mix covers groceries, household goods, apparel, electronics and pharmacy services, supplemented by private-label products and category-specific offerings. Walmart pairs its physical store network with online platforms and mobile applications to provide omnichannel shopping, fulfillment and delivery options for consumers and businesses.

The company was founded by Sam Walton, who opened the first store in Rogers, Arkansas in 1962; it is headquartered in Bentonville, Arkansas.

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