Walmart Inc. Makes New Investment in Symbotic Inc. (NASDAQ:SYM)

Walmart Inc. purchased a new position in Symbotic Inc. (NASDAQ:SYM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,000,000 shares of the company's stock, valued at approximately $355,650,000. Symbotic comprises about 97.2% of Walmart Inc.'s holdings, making the stock its largest holding. Walmart Inc. owned about 2.55% of Symbotic at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SYM. JPMorgan Chase & Co. boosted its holdings in shares of Symbotic by 100.6% during the fourth quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company's stock worth $411,000 after purchasing an additional 3,110,075 shares during the period. Vanguard Group Inc. raised its holdings in Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after buying an additional 1,452,627 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Symbotic during the 4th quarter worth about $20,754,000. Hood River Capital Management LLC acquired a new position in shares of Symbotic during the 4th quarter valued at about $5,704,000. Finally, TCW Group Inc. raised its stake in shares of Symbotic by 51.7% in the 4th quarter. TCW Group Inc. now owns 582,955 shares of the company's stock valued at $13,822,000 after acquiring an additional 198,681 shares in the last quarter.

Symbotic Stock Performance

Symbotic stock traded down $0.12 on Monday, reaching $22.94. The company's stock had a trading volume of 915,255 shares, compared to its average volume of 1,932,481. Symbotic Inc. has a twelve month low of $16.32 and a twelve month high of $48.98. The company has a market cap of $13.50 billion, a price-to-earnings ratio of -327.67, a PEG ratio of 6.48 and a beta of 1.86. The business's fifty day moving average price is $21.20 and its 200 day moving average price is $25.90.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, equities analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other news, insider William M. Boyd III sold 2,660 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the transaction, the insider now directly owns 40,812 shares in the company, valued at approximately $1,126,411.20. The trade was a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Carol J. Hibbard sold 4,055 shares of Symbotic stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total transaction of $124,488.50. Following the transaction, the chief financial officer now directly owns 44,386 shares in the company, valued at $1,362,650.20. The trade was a 8.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,721 shares of company stock worth $1,772,384. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

SYM has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 price objective on shares of Symbotic in a report on Thursday, February 6th. Northland Securities increased their target price on Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. Oppenheimer began coverage on Symbotic in a research report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price target on the stock. Citigroup cut their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $37.20.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.