Westfield Capital Management Co. LP Invests $6.14 Million in Walmart Inc. (NYSE:WMT)

Key Points

• Westfield Capital Management Co. LP has invested approximately $6.14 million in Walmart by acquiring 69,966 shares during the first quarter.
• A number of hedge funds, including Bear Mountain Capital Inc. and Lipe & Dalton, have significantly increased their stakes in Walmart, with 26.76% of the stock now owned by institutional investors.
• Walmart's stock has received mostly positive analyst ratings, with a consensus price target of $106.67 and the majority of analysts recommending a "buy" or "outperform" rating.

Westfield Capital Management Co. LP acquired a new stake in Walmart Inc. (NYSE:WMT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 69,966 shares of the retailer's stock, valued at approximately $6,142,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. boosted 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 purchased a new stake in Walmart during the first quarter worth $35,000. Lipe & Dalton boosted its position in Walmart by 95.2% during the 1st quarter. Lipe & Dalton now owns 410 shares of the retailer's stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. Nexus Investment Management ULC purchased a new position in shares of Walmart in the 1st quarter valued at $49,000. Finally, Vega Investment Solutions bought a new position in shares of Walmart in the 4th quarter worth $54,000. 26.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WMT has been the topic of several analyst reports. KeyCorp lifted their target price on Walmart from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Walmart in a research report on Monday, June 9th. Evercore ISI increased their price objective on Walmart from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Walmart from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Raymond James Financial lowered their price target on Walmart from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $106.67.

Insiders Place Their Bets

In other Walmart news, EVP Kathryn J. Mclay sold 4,000 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $95.14, for a total transaction 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 $100,511,128.70. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Furner sold 13,125 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $95.14, for a total value of $1,248,712.50. Following the completion of the transaction, the executive vice president directly owned 932,313 shares in the company, valued at approximately $88,700,258.82. This trade represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,112 shares of company stock worth $14,080,073. 45.58% of the stock is currently owned by company insiders.

Walmart Price Performance

Walmart stock opened at $99.49 on Tuesday. The company has a fifty day simple moving average of $96.92 and a 200-day simple moving average of $95.13. The company has a quick ratio of 0.22, a current ratio of 0.78 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $793.95 billion, a price-to-earnings ratio of 42.52, a PEG ratio of 4.74 and a beta of 0.66. Walmart Inc. has a 52-week low of $66.67 and a 52-week high of $105.30.

Walmart (NYSE:WMT - Get Free Report) last issued its earnings results 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. The business had revenue of $165.61 billion for 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 business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. On average, equities analysts anticipate that Walmart Inc. will post 2.55 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.