Granite Bay Wealth Management LLC Takes $220,000 Position in Walmart Inc. (NYSE:WMT)

Granite Bay Wealth Management LLC bought a new position in shares of Walmart Inc. (NYSE:WMT) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,436 shares of the retailer’s stock, valued at approximately $220,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Walmart by 3.3% during the third quarter. Geode Capital Management LLC now owns 87,617,409 shares of the retailer’s stock worth $7,048,465,000 after acquiring an additional 2,786,061 shares during the period. FMR LLC grew its stake in Walmart by 12.9% during the 3rd quarter. FMR LLC now owns 63,135,639 shares of the retailer’s stock worth $5,098,203,000 after purchasing an additional 7,200,004 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Walmart by 4.6% during the 3rd quarter. Fisher Asset Management LLC now owns 47,659,844 shares of the retailer’s stock worth $3,848,533,000 after purchasing an additional 2,107,197 shares during the period. Franklin Resources Inc. raised its position in Walmart by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 41,501,782 shares of the retailer’s stock valued at $3,392,658,000 after purchasing an additional 1,480,927 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Walmart by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 36,282,740 shares of the retailer’s stock valued at $2,456,704,000 after buying an additional 644,353 shares during the period. 26.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WMT has been the topic of a number of recent research reports. StockNews.com lowered shares of Walmart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Piper Sandler raised their price objective on shares of Walmart from $83.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, November 18th. TD Cowen lifted their price objective on shares of Walmart from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Melius Research assumed coverage on Walmart in a report on Monday, September 23rd. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Oppenheimer lifted their price target on Walmart from $81.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.08.

Insider Buying and Selling

In other Walmart news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $82.79, for a total value of $2,411,175.96. Following the completion of the transaction, the chief executive officer now owns 3,843,929 shares in the company, valued at approximately $318,238,881.91. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John R. Furner sold 13,125 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $92.60, for a total transaction of $1,215,375.00. Following the sale, the executive vice president now owns 566,794 shares in the company, valued at $52,485,124.40. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,347 shares of company stock valued at $12,311,491 over the last ninety days. Corporate insiders own 45.58% of the company’s stock.

Walmart Trading Down 1.7 %

NYSE:WMT opened at $91.39 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $90.56 and its 200-day simple moving average is $80.80. Walmart Inc. has a 12-month low of $53.44 and a 12-month high of $96.18. The firm has a market cap of $734.17 billion, a P/E ratio of 37.51, a PEG ratio of 4.47 and a beta of 0.55.

Walmart (NYSE:WMT) last announced its quarterly earnings data on Tuesday, November 19th. The retailer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Walmart had a net margin of 2.92% and a return on equity of 21.78%. The company had revenue of $169.59 billion for the quarter, compared to analysts’ expectations of $167.69 billion. During the same period in the previous year, the company posted $0.51 EPS. Walmart’s revenue was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Walmart Inc. will post 2.47 EPS for the current year.

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.