Riggs Asset Managment Co. Inc. Has $7.13 Million Stake in Walmart Inc. (NYSE:WMT)

Riggs Asset Managment Co. Inc. raised its holdings in shares of Walmart Inc. (NYSE:WMT - Free Report) by 7.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,211 shares of the retailer's stock after acquiring an additional 5,880 shares during the quarter. Walmart makes up 2.0% of Riggs Asset Managment Co. Inc.'s investment portfolio, making the stock its 10th largest position. Riggs Asset Managment Co. Inc.'s holdings in Walmart were worth $7,130,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. One Day In July LLC increased its position in Walmart by 10.2% during the 1st quarter. One Day In July LLC now owns 7,622 shares of the retailer's stock worth $669,000 after purchasing an additional 708 shares in the last quarter. Vickerman Investment Advisors Inc. boosted its position in Walmart by 2.4% during the first quarter. Vickerman Investment Advisors Inc. now owns 44,449 shares of the retailer's stock worth $3,902,000 after acquiring an additional 1,026 shares during the last quarter. Whelan Financial raised its holdings in Walmart by 17.7% in the 1st quarter. Whelan Financial now owns 5,107 shares of the retailer's stock valued at $448,000 after acquiring an additional 768 shares during the last quarter. Sharp Financial Services LLC grew its position in shares of Walmart by 6.4% in the first quarter. Sharp Financial Services LLC now owns 8,388 shares of the retailer's stock valued at $736,000 after purchasing an additional 506 shares during the period. Finally, Adell Harriman & Carpenter Inc. boosted its stake in Walmart by 3.2% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 164,353 shares of the retailer's stock worth $14,429,000 after buying an additional 5,064 shares during the last quarter. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Walmart Stock Up 0.7%

Shares of NYSE:WMT traded up $0.68 during trading on Friday, hitting $98.29. The company's stock had a trading volume of 7,686,204 shares, compared to its average volume of 18,068,909. Walmart Inc. has a fifty-two week low of $66.67 and a fifty-two week high of $105.30. The stock's 50-day moving average price is $97.14 and its two-hundred day moving average price is $94.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.78. The company has a market capitalization of $784.40 billion, a PE ratio of 42.00, a PEG ratio of 4.73 and a beta of 0.68.

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

Walmart Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 12th were issued a dividend of $0.235 per share. This represents a yield of 0.95%. The ex-dividend date of this dividend was Friday, May 9th. Walmart's dividend payout ratio is presently 40.17%.

Insider Transactions at Walmart

In related news, EVP John D. Rainey sold 2,200 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $99.00, for a total transaction of $217,800.00. Following the transaction, the executive vice president directly owned 630,518 shares in the company, valued at $62,421,282. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John R. Furner sold 13,125 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $95.85, for a total transaction of $1,258,031.25. Following the sale, the executive vice president owned 945,434 shares of the company's stock, valued at approximately $90,619,848.90. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,711 shares of company stock worth $13,710,319 in the last quarter. Insiders own 45.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WMT shares. Truist Financial boosted their target price on shares of Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a report on Friday, May 16th. Telsey Advisory Group restated an "outperform" rating and set a $115.00 price objective on shares of Walmart in a report on Monday, June 9th. Robert W. Baird lifted their target price on Walmart from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Mizuho boosted their price target on Walmart from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, June 9th. Finally, Evercore ISI upped their price target on Walmart from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Walmart currently has an average rating of "Moderate Buy" and an average price target of $106.67.

Walmart 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.