Walmart Inc. (NYSE:WMT) Holdings Raised by Cove Private Wealth LLC

Key Points

• Cove Private Wealth LLC increased its stake in Walmart by 40.5%, acquiring a total of 11,171 shares valued at approximately $981,000.
• Insiders at Walmart, including EVP Daniel J. Bartlett and EVP Kathryn J. Mclay, sold shares amounting to approximately $547,286 in recent transactions.
• Walmart reported a quarterly earnings per share of $0.61, surpassing analysts' expectations, with a net revenue of $165.61 billion, reflecting a 2.5% year-over-year increase.

Cove Private Wealth LLC lifted its stake in shares of Walmart Inc. (NYSE:WMT - Free Report) by 40.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,171 shares of the retailer's stock after purchasing an additional 3,221 shares during the quarter. Cove Private Wealth LLC's holdings in Walmart were worth $981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WMT. Bear Mountain Capital Inc. raised its stake in shares of Walmart by 98.2% during the first quarter. Bear Mountain Capital Inc. now owns 337 shares of the retailer's stock valued at $32,000 after purchasing an additional 167 shares in the last quarter. EQ Wealth Advisors LLC bought a new stake in Walmart in the first quarter worth about $35,000. Lipe & Dalton raised its position in Walmart by 95.2% in the first quarter. Lipe & Dalton now owns 410 shares of the retailer's stock worth $36,000 after acquiring an additional 200 shares in the last quarter. Nexus Investment Management ULC bought a new stake in Walmart in the first quarter worth about $49,000. Finally, Vega Investment Solutions bought a new stake in Walmart in the fourth quarter worth about $54,000. 26.76% of the stock is currently owned by institutional investors.

Insider Transactions at Walmart

In related news, EVP Daniel J. Bartlett sold 1,744 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $95.60, for a total value of $166,726.40. Following the completion of the sale, the executive vice president directly owned 649,233 shares in the company, valued at approximately $62,066,674.80. The trade was a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathryn J. Mclay sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.14, for a total value of $380,560.00. Following the completion of the sale, the executive vice president owned 1,056,455 shares of the company's stock, valued at approximately $100,511,128.70. This trade represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,112 shares of company stock worth $14,080,073. 0.10% of the stock is currently owned by company insiders.

Walmart Trading Up 0.6%

Shares of NYSE WMT opened at $103.77 on Monday. The stock has a market cap of $828.13 billion, a price-to-earnings ratio of 44.35, a PEG ratio of 4.99 and a beta of 0.66. The business has a 50 day simple moving average of $97.30 and a 200 day simple moving average of $95.39. Walmart Inc. has a 52 week low of $67.14 and a 52 week high of $105.30. 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 announced its quarterly earnings results on Thursday, May 15th. The retailer reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The business 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%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, research analysts predict that Walmart Inc. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup reiterated a "buy" rating on shares of Walmart in a research report on Tuesday, May 6th. Truist Financial boosted their price target on shares of Walmart from $107.00 to $111.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $103.00 price target (up from $102.00) on shares of Walmart in a research report on Monday, June 9th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Walmart in a research report on Monday, May 5th. Finally, KeyCorp boosted their price target on shares of Walmart from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $106.67.

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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