Stoneridge Investment Partners LLC Boosts Stock Position in Walmart Inc. $WMT

Key Points

• Stoneridge Investment Partners LLC increased its holdings in Walmart Inc. by 32.3% during the first quarter, owning a total of 18,394 shares valued at approximately $1.6 million.
• Several large investors also increased their stakes in Walmart, including Nuveen LLC, which acquired a position valued at $2.53 billion, and GAMMA Investing LLC, which raised its holdings by nearly 9,900%.
• Walmart's stock received multiple upgrades from analysts, with a consensus rating of "Buy" and an average price target of $109.89, reflecting positive confidence in the company's performance.

Stoneridge Investment Partners LLC boosted its holdings in Walmart Inc. (NYSE:WMT - Free Report) by 32.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,394 shares of the retailer's stock after acquiring an additional 4,489 shares during the period. Walmart accounts for about 1.4% of Stoneridge Investment Partners LLC's portfolio, making the stock its 26th largest holding. Stoneridge Investment Partners LLC's holdings in Walmart were worth $1,615,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WMT. Nuveen LLC acquired a new position in Walmart in the first quarter valued at approximately $2,532,331,000. GAMMA Investing LLC lifted its holdings in Walmart by 9,896.9% in the first quarter. GAMMA Investing LLC now owns 7,939,728 shares of the retailer's stock valued at $697,029,000 after acquiring an additional 7,860,306 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Walmart by 30.1% in the first quarter. Goldman Sachs Group Inc. now owns 33,292,749 shares of the retailer's stock valued at $2,922,770,000 after acquiring an additional 7,706,201 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Walmart by 527.1% in the first quarter. Wellington Management Group LLP now owns 6,739,038 shares of the retailer's stock valued at $591,620,000 after acquiring an additional 5,664,484 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in Walmart by 28,684.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 4,229,354 shares of the retailer's stock valued at $371,295,000 after acquiring an additional 4,214,661 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on WMT shares. Wall Street Zen raised Walmart from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. DA Davidson reissued a "buy" rating and issued a $117.00 target price on shares of Walmart in a research report on Friday, May 16th. Citigroup reissued a "buy" rating on shares of Walmart in a research report on Tuesday, May 6th. Sanford C. Bernstein reissued an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their target price on Walmart from $112.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $109.89.

Insider Buying and Selling at Walmart

In other news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $95.14, for a total transaction of $1,248,712.50. Following the completion of the sale, the executive vice president directly owned 932,313 shares of the company's stock, valued at approximately $88,700,258.82. The trade was a 1.39% 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, CEO C Douglas Mcmillon sold 19,416 shares of Walmart stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $95.58, for a total transaction of $1,855,781.28. Following the sale, the chief executive officer directly owned 4,412,398 shares of the company's stock, valued at approximately $421,737,000.84. This trade represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,989 shares of company stock worth $10,976,478. 0.10% of the stock is currently owned by company insiders.

Walmart Stock Performance

NYSE:WMT opened at $101.3140 on Wednesday. The company has a fifty day simple moving average of $97.74 and a two-hundred day simple moving average of $95.62. The company has a market cap of $808.53 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 4.84 and a beta of 0.66. 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 Inc. has a 52 week low of $73.72 and a 52 week high of $105.30.

Walmart Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.235 per share. This represents a dividend yield of 90.0%. The ex-dividend date of this dividend is Friday, August 15th. Walmart's payout ratio is 40.17%.

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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