Legacy Capital Group California Inc. Boosts Stock Holdings in Walmart Inc. (NYSE:WMT)

Key Points

• Legacy Capital Group California Inc. increased its stake in Walmart by 17.0% during the first quarter, owning approximately $2.08 million worth of shares, making Walmart its 20th largest investment.
• Institutional investors collectively hold 26.76% of Walmart's stock, with notable increases in shares from other firms such as Brighton Jones LLC and Eagle Capital Management.
• Walmart's most recent earnings report surpassed estimates with earnings per share of $0.61, and analysts expect an average of $2.55 earnings per share for the current fiscal year.

Legacy Capital Group California Inc. grew its position in Walmart Inc. (NYSE:WMT - Free Report) by 17.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 23,750 shares of the retailer's stock after acquiring an additional 3,454 shares during the period. Walmart accounts for approximately 0.7% of Legacy Capital Group California Inc.'s investment portfolio, making the stock its 20th biggest position. Legacy Capital Group California Inc.'s holdings in Walmart were worth $2,085,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Whelan Financial raised its stake in shares of Walmart by 2.3% during the fourth quarter. Whelan Financial now owns 4,339 shares of the retailer's stock valued at $392,000 after acquiring an additional 97 shares during the last quarter. Bedel Financial Consulting Inc. increased its holdings in Walmart by 0.4% in the first quarter. Bedel Financial Consulting Inc. now owns 25,915 shares of the retailer's stock valued at $2,275,000 after purchasing an additional 102 shares during the period. Scott & Selber Inc. raised its position in Walmart by 3.7% during the 1st quarter. Scott & Selber Inc. now owns 2,920 shares of the retailer's stock worth $256,000 after purchasing an additional 105 shares during the last quarter. Capital Advisors Wealth Management LLC raised its position in Walmart by 1.4% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 7,794 shares of the retailer's stock worth $684,000 after purchasing an additional 105 shares during the last quarter. Finally, Lauterbach Financial Advisors LLC lifted its holdings in Walmart by 1.8% during the 1st quarter. Lauterbach Financial Advisors LLC now owns 5,885 shares of the retailer's stock worth $517,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 26.76% of the company's stock.

Insider Buying and Selling at Walmart

In related news, EVP John R. Furner sold 13,125 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $95.85, for a total value of $1,258,031.25. Following the sale, the executive vice president owned 945,434 shares in the company, valued at $90,619,848.90. This represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO C Douglas Mcmillon sold 29,148 shares of Walmart stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.58, for a total value of $2,815,113.84. Following the transaction, the chief executive officer owned 4,451,199 shares of the company's stock, valued at $429,896,799.42. The trade was a 0.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,112 shares of company stock valued at $14,080,073. Insiders own 45.58% of the company's stock.

Walmart Stock Up 4.0%

Shares of WMT traded up $3.96 on Wednesday, reaching $103.27. The stock had a trading volume of 23,730,095 shares, compared to its average volume of 13,905,739. 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 12-month low of $66.67 and a 12-month high of $105.30. The firm has a market capitalization of $824.14 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 4.78 and a beta of 0.66. The company has a 50-day simple moving average of $96.95 and a 200-day simple moving average of $95.16.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WMT shares. Truist Financial increased their price target on Walmart from $107.00 to $111.00 and gave the company a "buy" rating in a research note on Friday, May 16th. KeyCorp upped their target price on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Oppenheimer raised their price target on shares of Walmart from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Royal Bank Of Canada restated an "outperform" rating and issued a $103.00 price target (up previously from $102.00) on shares of Walmart in a research report on Monday, June 9th. Finally, DA Davidson reiterated a "buy" rating and set a $117.00 price objective on shares of Walmart in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price 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.