Pinnacle Advisory Group Inc. increased its position in shares of Walmart Inc. (NYSE:WMT) by 85.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,620 shares of the retailer’s stock after purchasing an additional 1,665 shares during the period. Pinnacle Advisory Group Inc.’s holdings in Walmart were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Telos Capital Management Inc. lifted its holdings in Walmart by 81.8% during the 1st quarter. Telos Capital Management Inc. now owns 16,144 shares of the retailer’s stock worth $2,193,000 after purchasing an additional 7,265 shares during the last quarter. Greenleaf Trust lifted its holdings in Walmart by 13.4% during the 1st quarter. Greenleaf Trust now owns 38,886 shares of the retailer’s stock worth $5,282,000 after purchasing an additional 4,602 shares during the last quarter. Manning & Napier Group LLC lifted its holdings in Walmart by 3.8% during the 1st quarter. Manning & Napier Group LLC now owns 535,199 shares of the retailer’s stock worth $72,694,000 after purchasing an additional 19,672 shares during the last quarter. Bank of Nova Scotia lifted its holdings 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 purchasing an additional 86,702 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its stake in Walmart by 12.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 58,616 shares of the retailer’s stock worth $8,449,000 after acquiring an additional 6,378 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:WMT opened at $139.88 on Friday. The firm has a market cap of $391.96 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 4.33 and a beta of 0.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.37. The company has a 50-day simple moving average of $140.25. Walmart Inc. has a 1 year low of $117.01 and a 1 year high of $153.66.
Walmart announced that its Board of Directors has approved a share repurchase program on Thursday, February 18th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the retailer to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
WMT has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Walmart from $163.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, May 24th. MKM Partners raised their price objective on Walmart from $141.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 25th. The Goldman Sachs Group restated a “buy” rating and set a $170.00 price objective on shares of Walmart in a research note on Tuesday, May 18th. Citigroup raised their price objective on Walmart from $172.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, May 19th. Finally, Telsey Advisory Group raised their price objective on Walmart from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $162.20.
In related news, Director S Robson Walton sold 483,836 shares of the business’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $132.40, for a total value of $64,059,886.40. Following the completion of the sale, the director now directly owns 3,215,991 shares of the company’s stock, valued at approximately $425,797,208.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Douglas Mcmillon sold 9,708 shares of the business’s stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $143.38, for a total value of $1,391,933.04. The disclosure for this sale can be found here. Insiders sold a total of 9,235,353 shares of company stock valued at $1,301,680,977 over the last ninety days. 50.43% of the stock is currently owned by corporate insiders.
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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