Burleson & Company LLC bought a new position in shares of Walmart Inc. (NYSE:WMT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 871 shares of the retailer’s stock, valued at approximately $118,000.
Several other institutional investors have also made changes to their positions in the company. Telos Capital Management Inc. raised its holdings in shares of Walmart by 81.8% in the first quarter. Telos Capital Management Inc. now owns 16,144 shares of the retailer’s stock valued at $2,193,000 after buying an additional 7,265 shares during the last quarter. Greenleaf Trust increased its position in Walmart by 13.4% in the 1st quarter. Greenleaf Trust now owns 38,886 shares of the retailer’s stock valued at $5,282,000 after acquiring an additional 4,602 shares during the period. Manning & Napier Group LLC raised its stake in Walmart by 3.8% during the 1st quarter. Manning & Napier Group LLC now owns 535,199 shares of the retailer’s stock valued at $72,694,000 after acquiring an additional 19,672 shares during the last quarter. Bank of Nova Scotia lifted its position in Walmart by 7.7% during the 1st quarter. Bank of Nova Scotia now owns 1,206,574 shares of the retailer’s stock worth $163,889,000 after acquiring an additional 86,702 shares during the period. Finally, ExodusPoint Capital Management LP grew its stake in shares of Walmart by 12.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 58,616 shares of the retailer’s stock valued at $8,449,000 after purchasing an additional 6,378 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.
In other Walmart news, SVP David Chojnowski sold 5,946 shares of Walmart stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $142.16, for a total transaction of $845,283.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rachel L. Brand sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $142.18, for a total transaction of $1,066,350.00. Following the sale, the executive vice president now owns 248,687 shares of the company’s stock, valued at $35,358,317.66. The disclosure for this sale can be found here. Insiders sold a total of 9,235,353 shares of company stock worth $1,301,680,977 over the last ninety days. Corporate insiders own 50.43% of the company’s stock.
Walmart (NYSE:WMT) last issued its earnings results on Tuesday, May 18th. The retailer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.48. The business had revenue of $138.30 billion for the quarter, compared to analyst estimates of $131.53 billion. Walmart had a return on equity of 19.92% and a net margin of 2.18%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS. As a group, equities research analysts expect that Walmart Inc. will post 5.95 earnings per share for the current fiscal year.
Walmart declared that its Board of Directors has approved a share buyback program on Thursday, February 18th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the retailer to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently weighed in on WMT shares. Telsey Advisory Group increased their price target on Walmart from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, May 19th. Credit Suisse Group began coverage on shares of Walmart in a research report on Wednesday, May 19th. They set an “outperform” rating and a $150.00 price objective for the company. Citigroup lifted their target price on shares of Walmart from $172.00 to $179.00 and gave the company a “buy” rating in a report on Wednesday, May 19th. Raymond James increased their price target on shares of Walmart from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, May 25th. Finally, Royal Bank of Canada raised their price objective on shares of Walmart from $163.00 to $173.00 and gave the company an “outperform” rating in a research report on Monday, May 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $162.20.
Walmart Company Profile
Walmart Inc engages in the operation of retail, wholesale, and other units 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; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.
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